Roundtable event: Business travellers
As return on investment continues to influence assignment decisions, many of K2 Corporate Mobility’s clients report a drive towards shorter assignments for business critical moves. This has for many companies, led to growth in short term and commuter populations.
Tracking short term business travellers
Global business travellers can be notoriously difficult to track. Without a centralised travel provider, companies struggle to monitor the international movements of their frequent travellers- relying on reception sign in logs, time reporting systems or expense management systems for visibility of travel behaviours.
Policies vary and are often loosely implemented, so on Friday 24th April 2015, K2 Corporate Mobility hosted a roundtable meeting in association with Emigra and Baker Tilly to discuss the risks presented by this population.
We invited attendees to collaborate and discuss their successful management of business travellers and short term assignees- including the awareness of potential threats in their industries. The event brought together mobility experts working in insurance, financial services, IT and the legal sector- encouraging cross industry discussion and a sharing of ideas.
5 Key findings: Roundtable event, April 2015
- Business travel can pose as a valid reputational risk to the business. Effective communication of policies ensures that senior management understand the reputational risk associated with poor travel management, and drive teams to implement it.
- Financial penalties for non-compliance can be severe, and simply ‘trying’ to be compliant is not deemed to be enough by HMRC or other regulatory authorities.
- There is a need for technology to support the tracking of business travellers – many companies adopt a number of different initiatives to help with this process including tracking via global receptions and their chosen travel provider.
- There is a need for all internal process to be “championed” by the business leaders to ensure initial uptake and ongoing compliance.
- Global travel creates a critical business need for solid infrastructure, process design, formal tracking solutions and operating models.
As always, it was good to get around the table and compare notes with other companies. Whilst we don’t always find the magic answer to our questions and problems, it’s comforting to know that everyone is experiencing the same issues!
I thought the day was well-organised, the speakers were very knowledgeable, and the pace was just right for me (breaks at the right time, and not too long a day). I also thought the size of the group was good. Sometimes, when the groups are really large, people reluctant to share their views.
Financial Services Attendee
The event was an excellent, interactive opportunity to find out more about short term business travellers and challenges that come with their assignments in terms of tax and immigration.
Consultancy Services Attendee
Upcoming round table event: Policy design and implementation
On 10th September 2015, K2 Corporate Mobility will host a roundtable to discuss policy design and implementation. The full day event will be held in London, UK, and limited to 15 participants. If you would like to join this even or have any questions around Business Travellers, please click here.
About this event: 'Tracking short term business travellers' was a half day roundtable event, hosted by K2 Corporate Mobility in association with Baker Tilly and Emigra.
About the author: Tony Stone, K2 Corporate Mobility
Tony Stone represents K2 Corporate Mobility in the UK and EMEA, leading roundtable and networking events. With a wide network of mobility professionals, Tony ensures that our events are topical and driven by client demand.
IMAGE RIGHTS: K2 Corporate Mobility, Patrick Hutton (2015). Policy presentation.