What is a corporate travel policy?
A corporate travel policy is a set of guidelines used by a company to ensure employees and travel managers book corporate travel that is compliant, safe, and in accordance with in-house standards. The policy is used to outline the approach to key protocols like which airlines and rail companies should be used, which vehicles can be rented, and the lodging a business traveler should use.
What is covered in a corporate travel policy?
Most policies will typically cover the following areas, but that will of course vary from one company to the next:
- Code of conduct
- Credit card usage
- Travel approval processes
- General travel arrangements
- Air travel
- Rail travel
- Vehicle rental
- Meal allowances
- “Bleisure” travel and personal time
- Expense reports
How does a corporate travel policy ensure compliance?
As the rates of corporate travel continue to increase rapidly, many businesses face the challenge of booking travel that is compliant with the tax and immigration laws of various territories. By offering clear guidance and protocols, a Corporate Travel Policy is a powerful tool to ensure that corporate travel is compliant.
How does a corporate travel policy save money?
An accurate corporate travel policy can empower travelers within a business to book their own travel. This helps to both save time and reduce the costs that are associated with a large team of travel managers.
How do I write a corporate travel policy?
Creating a corporate travel policy can be a complex undertaking. There are a lot of areas to consider and the policy must be consistent, clear, and technically correct.
If you would like guidance on writing your Corporate Travel Policy, be sure to download our free ebook to get a step-by-step guide on the process.
Are Corporate Travel Policies unique to each company?
Yes. Each policy needs to address the unique needs and circumstances surrounding each business. There is no such thing as a one-size-fits-all Corporate Travel Policy.
Which department creates the Corporate Travel Policy?
Creating a Corporate Travel Policy can be a complex and time-consuming task that requires input from various departments within a business. The HR and Finance departments in particular will play a key role in the development of the policy.