Ingredients of a Good Travel & Expense Policy Sarabjeet Kaur Global Groupware Solutions Ltd. January 20, 2012
What is a Good Travel & Expense Policy ?
Guiding Principals of a Travel & Expense Policy
6 C’s for the Foundation of a Good Travel & Expense Policy <ul><li>Culture </li></ul><ul><li>Content </li></ul><ul><li>Com...
Culture <ul><li>An organization’s culture is reflected in all of its operating policies and procedures, including its busi...
Content <ul><li>Critical topics need to be included in order to maximize the effectiveness of the policy </li></ul><ul><li...
. <ul><li>The essentials topics covered in the content are :- </li></ul><ul><li>Travel Arrangements </li></ul><ul><li>Lodg...
Comprehensiveness <ul><li>Comprehensiveness is the degree of detail provided under each head </li></ul><ul><li>It gives tr...
Communication <ul><li>Communication measures the extent of T&E policy distribution </li></ul><ul><li>It measures how effec...
Control <ul><li>Control measures the strength and effectiveness of specific policy language </li></ul><ul><li>It also meas...
Compliance <ul><li>Compliance measures how well the travelers are following the policy </li></ul><ul><li>It ensures that y...
Policy Summary TRAVEL COMPLIANCE High level of Control Comprehensive  Information Effective Communication Appropriate Cult...
Benefits of a Good Travel & Expense Policy <ul><li>Increases the effectiveness of implementation. </li></ul><ul><li>Help i...
So to Summarize… <ul><li>Understand the company culture and requirement  </li></ul><ul><li>Prepare a policy manual that co...
<ul><li>Refine the policy </li></ul><ul><li>Communicate the new policy with the effective date stating the reasons for cha...
 
Thank you! Write to me at gunjan.garg@employwise.com Access our webinars and other HR resources at: http://www.employwise....
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Employ wise webinar ingredients of a good travel & expense policy

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Employ wise webinar ingredients of a good travel & expense policy

  1. 1. Ingredients of a Good Travel & Expense Policy Sarabjeet Kaur Global Groupware Solutions Ltd. January 20, 2012
  2. 2. What is a Good Travel & Expense Policy ?
  3. 3. Guiding Principals of a Travel & Expense Policy
  4. 4. 6 C’s for the Foundation of a Good Travel & Expense Policy <ul><li>Culture </li></ul><ul><li>Content </li></ul><ul><li>Comprehensiveness </li></ul><ul><li>Communication </li></ul><ul><li>Control </li></ul><ul><li>Compliance </li></ul>
  5. 5. Culture <ul><li>An organization’s culture is reflected in all of its operating policies and procedures, including its business T&E policy. </li></ul><ul><li>Decision makers in travel management are required to have an intuitive grasp of their company’s culture as it determines the traveling lifestyle of people. </li></ul><ul><li>It can be considered as relaxed or restrictive. </li></ul>
  6. 6. Content <ul><li>Critical topics need to be included in order to maximize the effectiveness of the policy </li></ul><ul><li>General issues include </li></ul><ul><li>Purpose of policy </li></ul><ul><li>Scope of policy </li></ul><ul><li>Enforcement of policy </li></ul><ul><li>Responsibilities </li></ul>
  7. 7. . <ul><li>The essentials topics covered in the content are :- </li></ul><ul><li>Travel Arrangements </li></ul><ul><li>Lodging </li></ul><ul><li>Conveyance or other transportation </li></ul><ul><li>Meals/Entertainment </li></ul><ul><li>Other Expenses </li></ul><ul><li>Purpose of travel &expense </li></ul><ul><li>Payment Methods </li></ul><ul><li>Expense Reporting </li></ul><ul><li>Process of filing the expense </li></ul>
  8. 8. Comprehensiveness <ul><li>Comprehensiveness is the degree of detail provided under each head </li></ul><ul><li>It gives travelers and expense approvers the information needed to follow the T&E policy and control expenses </li></ul><ul><li>It ensures a tangible record of all ongoing travel management objectives </li></ul><ul><li>For example a T&E policy is incomplete if it misses on general guidelines, language enforcement, deviations etc. </li></ul>
  9. 9. Communication <ul><li>Communication measures the extent of T&E policy distribution </li></ul><ul><li>It measures how effectively the policy is updated </li></ul><ul><li>Communication is also the measure of awareness of knowledge of the T& E policy </li></ul><ul><li>It involves the all the parties involved like travelers, travel arrangers, expense approvers, payers, newly hired employees, all booking agencies involved etc. </li></ul>
  10. 10. Control <ul><li>Control measures the strength and effectiveness of specific policy language </li></ul><ul><li>It also measures methods in place for monitoring compliance </li></ul><ul><li>Enforcement strategies used in dealing with non-compliance </li></ul>
  11. 11. Compliance <ul><li>Compliance measures how well the travelers are following the policy </li></ul><ul><li>It ensures that your company achieves the financial and administrative benefits expected with a best-in-class T&E policy </li></ul><ul><li>It is the ultimate measure of overall Travel & Expense policy </li></ul>
  12. 12. Policy Summary TRAVEL COMPLIANCE High level of Control Comprehensive Information Effective Communication Appropriate Culture Recommended Topics
  13. 13. Benefits of a Good Travel & Expense Policy <ul><li>Increases the effectiveness of implementation. </li></ul><ul><li>Help in lowering direct T&E costs. </li></ul><ul><li>Help travelers understand management’s expectations. </li></ul><ul><li>Cost reduction. </li></ul><ul><li>Maximize use of preferred vendors. </li></ul><ul><li>Used for monitoring, budgeting and forecasting. </li></ul><ul><li>Proper review </li></ul>
  14. 14. So to Summarize… <ul><li>Understand the company culture and requirement </li></ul><ul><li>Prepare a policy manual that covers all the guidelines for employee travel </li></ul><ul><li>Detail the entire process </li></ul><ul><li>Include acceptable price ranges and acceptable costs </li></ul><ul><li>Communicate the policy to all the employees in the organization </li></ul><ul><li>Proper review and amendments of the policy from time to time. </li></ul>
  15. 15. <ul><li>Refine the policy </li></ul><ul><li>Communicate the new policy with the effective date stating the reasons for change </li></ul><ul><li>Take necessary feedback from employees </li></ul>
  16. 17. Thank you! Write to me at gunjan.garg@employwise.com Access our webinars and other HR resources at: http://www.employwise.com/cafe-hr.html

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