5 Scenarios Your Travel Policy Should Cover

Technological innovations and cultural shifts continue to change the business travel experience. Keep your travel policy relevant by updating it to cover these five increasingly common scenarios.

Note: Consult with your legal advisor and insurance representative to make sure your travel policy protects the company’s liability and traveler safety appropriately.

1. Bleisure Travel

Calculating accurate budgets is understandably a top priority for finance executives! It can also be more challenging than expected. While you know many company expenses inside and out, the travel industry may fall outside your expertise.

Combining business and leisure travel is increasingly popular, possibly due to increased integration between work and home life. Telecommuting rates have doubled in the last 10 years, and mobile technology makes work accessible nearly everywhere. No wonder it feels more natural to blend business and pleasure!

These sample travel policy provisions can keep boundaries clear:

2. Airplane Seating

Just because an employee is on a business trip doesn’t automatically mean flying business class.

TravelBank’s algorithm uses economy class tickets as a default, but you may want to specify travel policy exceptions:

3. Alternative Lodging

The sharing economy is full of options that rival more traditional hotel and transport companies, for a lower price. The key is ensuring that business travelers aren’t compromising security for the sake of the best deal.

First, double-check your insurance coverage and liability. You may want to offer Airbnb approval “when hotel costs are prohibitive,” or only with verified “superhosts.”

One feature Airbnb offers is a “For Work” filter for search results. This limits listings to:

4. Ridesharing

Services like Uber and Lyft can be convenient alternatives to a bus or taxi, or they can be much more expensive, thanks to surge pricing.

To minimize overspending and maximize safety, consider these travel policy guidelines:

5. Security

Your policy should address your legal and moral “duty of care” when business travelers may encounter:

Even comparatively commonplace risks can be addressed in your travel policy: