While companies understand the benefits of corporate travel, a disconnect between what travelers want and company policies still exists, according to a Lola.com report.
Corporate travelers prioritize productivity and flexibility above all else when it comes to their journeys, according to a Thursday report from Lola.com. Some 1.3 million people travel for business every day in the US, making corporate travel a key part of the modern business landscape, the report noted. Virtually all organizations (94%) said corporate travel creates business opportunities, and allows workers to meet new partners, connect with investors, and maintain business relationships, the report found.
"Business travel remains an important part of the corporate world, but traveler preferences are constantly changing," Mike Baker, director of marketing at Lola.com, said in a press release. "The stereotype of business class flights to three-martini client lunches are fading, replaced by a new class of corporate travelers who value productivity and flexibility above all else."
SEE: Travel and business expense policy (Tech Pro Research)
In terms of top travel pain points, of the 1,500 professionals responsible for managing employee travel surveyed cited the following:
1. The amount of time it takes to adjust bookings and travel arrangements (50%)
2. The time spent gathering receipts and creating expense reports (44%)
3. Difficulty booking travel on behalf of someone else (38%)
These challenges change and evolve as companies grow, the report noted.
There is also a disconnect between how business travelers want to book their trips and company policies, according to the report. Nearly three-fourths (72%) of corporate travelers said they prefer to book their own trips, but only 62% of companies give employees that option. And 89% of travelers want visibility into their travel options, while 79% of companies provide it, the report found.
To learn more about how to improve corporate travel, check out the TechRepublic business pro's guide to hassle-free travel.
- IT budgeting: A cheat sheet (TechRepublic)
- What is blockchain? Understanding the technology and the revolution (TechRepublic download)
- Vendor relationship management checklist (Tech Pro Research)
- Tech Budgets 2019: A CXO's Guide (ZDNet)
- 6 ways to delete yourself from the internet (CNET)
- Best to-do list apps for managing tasks on any platform (Download.com)
- CXO: More must-read coverage (TechRepublic on Flipboard)