What are the Concerns of Executive Stakeholders for Business Travel?
Executive-level stakeholders are grappling with multiple concerns about their internal managed travel programs while keeping a watchful eye on a wide variety of outside developments that could impede domestic and international business travel in the next 12 months.
Research through surveying of business leaders for internal concerns, revealed key trends into what is strongly monitored and controlled among four key stakeholder groups— C-suite, finance, procurement, and HR executives. There are various reports and data sets needed to fulfill responsibilities, and ensure satisfactory involvement in, and impact on, their managed travel programs. The focus of each contributor fluctuates depending on their job function and involvement with business travel. Nevertheless, there are also clear concerns that are central to all roles. Key insights gathered from executive stakeholders include:
- What cost-avoidance and cost control tactics are considered extremely effective for managing travel expenses. The top answers, from 76% of respondents, include: enforcing business travel policy compliance and proactively educating travelers about booking preferred suppliers.
- Metrics identifying the importance of traveler safety and satisfaction in the business travel experience, and a breakdown of where these concerns lie domestically vs. Internationally.
- Top reports and data sets that are prioritized for different stakeholders - the impact of employee travel on company performance, quantifiable ROI on travel spend, and accurate and timely reporting to name a few.
- Precise breakdowns of responses, organized by department - as every role in a company varies, as do the priorities amidst leaders regarding their top concerns and focuses. When measuring response popularity for different stakeholder values, answers can differ up to 25%.
Get the full list of top concerns and all the reports and data sets by downloading the report. You will learn more about how executive stakeholders manage travel concerns and potential threats.
