How to Write a Corporate Travel Policy
Last week we brought our readers some information on the benefits that your business will gain by implementing a Corporate Travel Policy. We promised that this week we’d take a look at some of the items to include in your Policy so that you can make sure your Policy contains all the information necessary to make sure your company’s corporate travel is convenient and cost-efficient.
- The Corporate Travel Policy should contain a section on how to book trips, and how far in advance reservations for flights and hotels should be made.
- If your company has contracts or discount arrangement with specific suppliers (airlines, hotels, car rental agencies, etc.) for travel, the Policy should state the requirement to book via these organisations.
- The Policy should clearly define what kind of seats may be booked on flights – economy, premier economy, business class, etc. Be specific on what type of amenities (such as checked luggage, in-flight meals, etc.) will be covered by travel expenses.
- Specify the type of accommodation that may be booked in hotels – whether travel expenses are limited to standard rooms. You also need to state which incidental accommodation expenses are allowable – this includes amenities such as in-room Wi-Fi, valet parking, room service, hotel laundry services, etc.
- The Policy should contain clear details on the daily allowance for meals, tips and any incidental expenses. You should also consider here whether alcohol will be paid for by the company – perhaps specifying that the company will only cover the costs of alcohol when entertaining clients or business associates.
- The Policy should clearly explain how travel costs should be paid for (whether through a corporate account, the employee’s own personal credit card, or a mix of both) and how travellers should submit their expense claims for reimbursement. This section should include what type of forms and receipts will be required, along with a deadline for submission and the length of time it will take for the traveller to be reimbursed.