Posted in: In this week's e-newsletter, Latest news & views, T&E
Everyone’s looking to trim spending where they can these days. But will that translate into fewer expense reports?
Not for most companies, according to new research from the Association of Corporate Travel Executives.
In a recent survey, only one-third of companies said they planned to to cut back on business travel in the coming year. For those who are spending less, they plan to trim:
- internal meetings (cited by 39%)
- international travel (16%), and
- training trips (9%).
Of course, some business travel is considered so essential (sales calls, industry conferences, etc.) that companies may feel they can’t afford not to send employees on the road. If that’s the case at your company, consider taking a second look at spending guidelines and related policies. Outling what is and isn’t reimbursable is the best way to rein in road warriors’ spending.
Do you expect your company to tighten the travel budget this year?