Improve Your ROI with These Travel Trends

We’ve learned to work remotely over the past few years as we never have before, but in-person connections with team members, industry colleagues and clients are still a critical component to business success. Oxford Economics research reports an average $9.50 ROI for every $1 spent on business travel. Pair that with data through the last recessions that show sectors that continued to travel through downturns posted higher growth in profits, and the data supports travel spending is worth the budget. With restrictions finally subsiding, expect to see a bigger return to business travel in 2023. The US Travel Association forecasts estimate a return to at least 90% of the business travel rates we saw in 2019 for the new year. To help you make the most of your company’s travel expenditures, consider the following:

Team Retreats and Gatherings Build Loyalty

Many of us have team members that work remotely, and we can get a lot done from our home offices via zoom calls. But there is something about the connections we build when we meet face to face that bolsters understanding, builds team bonding and unlocks the creativity that comes with group brainstorming sessions.

Planning in a January retreat for your internal team is a particularly good way to find business success for the coming year. Take the time to focus on what worked and what didn’t this past year. Re-evaluate your long-term goals and build team buy-in and solid strategies for your new focus.

Consider scheduling in-person meetings with your key clients at regular intervals this next year as well. Reconnect and ensure the relationship is growing in the right direction. You’ll find you have frank conversations in person that wouldn’t happen over Zoom.

Bleisure Builds in Employee Perks

When we send our teams out on work travel and schedule them for long hours with little to no downtime, work travel becomes a burden. Build your travel schedules to allow some time for your team to explore in the evenings, and even tack on a vacation day or two to the start or end of the trip to enjoy the new places they’re visiting. With these small adjustments, business travel will become a perk rather than a punishment.

Consider ways you can help your employees bring their families along on the trip as well. For business trips that are particularly long or send an employee to multiple locations in a row, it could end up being more affordable to send a spouse to visit for a portion of the trip than paying for your employee to fly home and back every weekend.

By allowing your employee the time to explore new locations, you can help unlock creativity and rejuvenate your employee’s passion for your business. Bleisure travel was up significantly last year, and the trend is looking to continue.

Alternative Accommodations Allow More Engaged Work

Younger generations are now fully engaged in the workforce, but have different needs and expectations than older generations headed out on business travel. Millenials and Gen Zers often prefer to stay further out of the city center in boutique hotels or home-like rentals. These locations give them more of a feel for the place they are visiting.

There’s a benefit to the company in this too. The nature of these accommodations affords them more space to work outside office hours or away from client locations. You’ll find your employees are more productive because they have the space to focus on the work at hand.

Consider locations that offer leisure activities nearby or having transportation arrangements for them to get to and from business endeavors and off-duty activities. While they might not enjoy being in the city center as much as previous generations, the do want access to things to do in their downtime!

Sustainability Plans Reduce Environment Impact and Are a Great Talking Point

Travel is good for business. Between internal trainings, incentives and rewards, conferences and tradeshows, sales and marketing initiatives, and meetings with clients, there are many reasons to get out there. But travel does have an impact on the environment.

Take into account the heightened attention on sustainability issues among the public, and you’ve got some good reasons to make a plan. Creating a travel plan that considers sustainability can be a great way to help your bottom line and add a great area of conversation for you to engage with your target market. Sustainable efforts can include route efficiency, location selections, efficient ground transportation and more.

Your Ground Transportation Makes a World of Difference

No matter how far you’re going, you’ll need ground transportation at the beginning, end and in between. Your team can focus on the business at hand when they don’t have to worry about navigating the crowded lines for a car rental or getting lost on unfamiliar roads. Avoiding parking issues and the added time it takes means more time can be spent building relationships.

Hiring a chauffeured service for your ground transportation needs will not only eliminate these burdens, but also provides a very efficient use of your time and environmental resources – as chauffeur companies have teams of staff planning out the most efficient route for their fleets each day.

From roadshows, high-level meetings, events and conferences, regular and ongoing crew transportation and everything in between, the team at Executive Transportation is here to help you make the most of your trips with quick, easy booking and reliable, high-quality service. Learn more about our corporate transportation services offered nationwide or call to discuss your needs today.