U
.S. unemployment rates reached
a fifty-year low in 2018, and
while that’s great for employees,
it’s not always good news for employers.
Well-qualified candidates are now so
hard to find, recruiters often refer to
them as unicorns. Competition is fierce
and temptation abounds, so what can
you do to attract and retain the best and
brightest? Forget the ping pong table
and snack cart, give them something
meaningful that will make them want to
stick around: a great travel policy. Flaunt
it during interviews and you might just
catch yourself a unicorn.
36% of hiring
managers report
candidates are
asking to see the
company’s travel
policy during the
interview process
Work/life balance is hugely important
for workers these days, and for those
required to spend time on the road, travel
policies are increasingly a make-or-break
consideration. They no longer want to
spend hours waiting in crowded airports
for bad connections or stay in out-of-
the-way hotels because that’s what their
travel policy dictates. They want a policy
that puts their comfort and well-being
above nickels and dimes. In fact, travel
policies have become so important, that
according to the Association of Corporate
Travel Executives, 36% of hiring managers
report candidates are asking to see the
company’s travel policy during the
interview process.
WHAT ARE EMPLOYEES
LOOKING FOR IN A
TRAVEL POLICY?
∙ ∙ A traveler-centric policy that reduces
the hassle and stress of travel
∙ ∙ Enough flexibility and autonomy to
accommodate personal preferences
∙ ∙ 24/7 travel managers who step in
when unforeseen circumstances arise
∙ ∙ Online and mobile platforms
that make bookings and expense
reporting easy
∙ ∙ Thoughtful Duty of Care policies that
help ensure safety and security
Happy employees work harder, are
more loyal and more productive, but
rewriting your travel policy to attract
and retain top talent also makes smart
financial sense. According to the Society
for Human Resource Management,
finding and training new employees costs
the equivalent of six to nine months of
their salary. That’s $35,000 to $52,500
for an employee that makes $70,000
a year. Nonstop flights, business class
tickets and hotels with wellness amenities
may be more expensive than the low-
cost alternatives, but look at the bigger
picture and you might find they’re a
sound investment.
But how do you give employees what
they want without breaking the bank?
First, don’t throw the baby out with the
bathwater. According to a survey by
Business Travel News, the least satisfied
travelers were the ones whose company
had few travel regulations or none at all.
Remember, traveler-centric policies aren’t
free-for-alls of first-class flights and five-
star hotels, they’re about finding that
sweet spot between controlling costs and
keeping your travelers happy. A good
travel management company will work
with you to develop a travel management
program that does both. It could become
the most powerful recruiting tool you
never knew you had.
Elevating the Art of Business Travel
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