Posted by: Paul Millican
In every business, travel is essential – whether it’s for a meeting, an important conference or simply networking, every business has travel costs. Fortunately, there are certain cost management tactics you can employ to ensure everyone in your business gets to where they need to be, without damaging your bottom line.
If you’re an employer who subsidises or entirely expenses an employee’s train commute, you’ll notice the cost mounting – higher train fairs and monthly season tickets are to blame most of the time. The solution isn’t necessarily to stop allowing the fare on expenses, but instead considering alternatives, such as an annual ticket, rather than a monthly. Some rail companies are also running a scheme whereby an employer pays for the annual ticket, and the employee pays it back in small instalments from their wages. This saves both you and your employee money in the long-term.
When it comes to conferences, client meetings in other cities and large scale events up and down the country, you may find that air travel is the most cost-effective means of transport, versus train, when all costs are considered. It’s surprising, isn’t it? But as previously mentioned, rising train prices – and not mentioning peak/off-peak rules – are making the added expense hit hard. Instead, try last minute flight deals or tickets booked in advance; both can save a business a hefty amount on their travel bill.
Is it time to review how much travelling to meetings is costing? The first step here is to consider whether or not it’s actually essential that you travel. If not, then it’s entirely possible to use conferencing calling as an alternative. Don’t panic! Thankfully, we live in an exciting world of innovation in the communications sector, so traditional conference calls are becoming a thing of the past. Instead, save on the phone bill (and the chaos) by trying VOIP software such as Skype or Google Hangouts. Alternatively, if it’s travel for training, a webinar may be the way forward – cutting travel costs and allowing an even greater number of attendees.
Where travel is unavoidable, there are plenty of great tactics to reducing the costs. And in situations where travel can be replaced by technology, it’s always best to take a chance with innovation – you’ll be surprised by the savings! Overall, there’s a way to manage just about any cost, and if you’re worried about any of the figures, simply get in touch to discuss a business health check.