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Why you need a Corporate Travel Incentive Program?

Corporate Incentive Travel Program

A corporate travel incentive program is a strategic approach to encourage employees to make better travel choices by rewarding them. This program seamlessly integrates with the company’s travel and expense management software, providing employees with a user-friendly platform to book their tickets.

This process of gamifying savings has multiple benefits. Read this blog to know why you should implement a corporate travel incentive program.

1. Drive Cost-Conscious Behavior

In an incentive program, when an employee books a ticket, the software presents them with multiple travel packages to choose from. In addition, the system displays the cost savings associated with selecting a lower-priced package. 

For instance, the software suggests three travel packages quoted at $600, $700, and $850. If the employee selects the $600 package, the difference between the chosen package and the highest-priced package (i.e., $250) is calculated. 

These savings are then divided between the company and the employee based on percentages that the company defines beforehand. This reward motivates the employee to make cost-conscious decisions, saving the company money.

2. Encourage Early Bookings

One common behavior among employees is the tendency to delay booking their tickets until the last minute. This can result in increased costs for the company due to rising ticket prices as the departure date approaches. 

When multiple employees book tickets at the last minute, the financial impact can be significant for the company. However, a well-designed corporate travel incentive program can address this issue by motivating employees to book their tickets early.

A business travel incentive program can encourage proper planning of the trip. For example, employees who book their tickets well in advance can earn a larger portion of the savings as an incentive, while those who book at the last minute may receive a smaller portion of the savings. 

This creates a win-win situation where employees are rewarded for booking early, and the company can save on overall travel costs.

3. Promote Policy Compliance

Employees may make out-of-policy bookings if they are not fully aware of the company’s travel policy or if their personal preferences do not align with it. 

However, booking outside of the company’s travel policy can increase the risks that employees may face during travel. For example, if an employee books a hotel that has not been vetted by the company, it may pose safety concerns for the employee.

To avoid such risks and ensure compliance, a corporate travel incentive program can be helpful. By offering employees incentives, rewards, or bonuses for adhering to guidelines, the program encourages employees to make bookings that are in line with the company’s policy.

4. Reduce the Frequency of Changes

Employees tend to make changes in their travel bookings if they don’t plan their trip carefully or they want to shift the dates for personal reasons. This can be costly for the company, especially if the tickets are non-refundable. 

However, implementing a corporate travel incentive program can help solve this issue by rewarding employees for adhering to their original travel plans and avoiding unnecessary changes.

The incentive program can discourage frequent changes in travel bookings by offering incentives or rewards for sticking to the original itinerary. For example, employees who book their flights and hotels well in advance and do not make any changes can earn points or receive bonuses as an incentive. 

5. Promote Opting for Preferred Vendor

Employees often have personal preferences when it comes to airlines, hotels, or car rental companies, which may not align with the preferred travel vendor program of their company. These preferences could be based on brand loyalty or familiarity with specific services.

Furthermore, employees may not perceive a direct benefit or incentive for using preferred travel vendors. If the advantages of using a preferred travel vendor are not clearly communicated or do not meet the employees’ needs, they may be less likely to opt for them.

Choosing preferred travel vendors can bring significant benefits to the company, as these vendors often offer higher discounts, additional perks, and greater reliability. To encourage employees to opt for preferred vendors, a corporate travel incentive program can be implemented, which rewards employees with a portion of the savings or provides them with additional perks during their stay.

6. Improve Software Adoption Rate

When implementing a new business travel management software in a company, it’s common for employees to feel hesitant or resistant to using it. In order to drive adoption and encourage employees to make bookings through the new software, integrating a corporate travel incentive program can be a powerful strategy. 

By linking the incentive program directly to the software, employees can experience the benefits of the program only when they use the software for their bookings, creating a strong incentive for adoption. 

Additionally, providing regular updates and reminders about the benefits and features of the software, as well as the rewards available through the incentive program, can keep employees engaged and motivated to use the software.

7. Boost Employee Morale and Satisfaction

Implementing a business travel incentive program that gamifies the process of business travel bookings can have a significant positive impact on employee morale and satisfaction. 

When employees are rewarded for making cost-conscious choices that result in savings for the company, they feel recognized and appreciated, leading to increased job satisfaction.

The inclusion of elements such as high scores, leaderboards, and bonuses can also enhance employee engagement with the program. A healthy sense of competition among employees to earn points, achieve top rankings on leaderboards, and receive bonuses can create excitement and motivation to participate actively in the program. 

Implement a Corporate Travel Incentive Program

A corporate travel incentive program has multiple benefits. However, implementing it efficiently requires a business travel management software solution.

ITILITE is an advanced corporate travel management platform that can help you gamify travel bookings and lead to cost savings for your business. The software suggests personalized packages for your employees and shows the savings they get on booking an economical package. Moreover, you can configure the ratio of savings given to employees according to your requirements.

To know more about this program, book a demo now.

Discover a simpler way to manage corporate travel

Corporate travel management can be extremely daunting. Getting travelers to stick to budgets while booking travel, monitoring spends or finding support for travelers – there is always something that needs to be done. That’s why we built a solution that makes corporate travel management simpler.

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Simplify your travel and expense management process!

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