Name some travel metrics that you would like to see improved for this year. Ideas typically fall into categories like this:
- A specific way to measure savings for domestic, international, or overall travel.
- Online or overall travel program adoption.
- A better handle on hotel and car costs and averages.
- Meeting travel cost assessments.
- The results of supplier deals.
- A drill down on many other expenses like ground transportation (taxi, Uber, sedan, meals, etc.).
- Satisfaction with your travel program or its parts.
- The quality of data, for example, how often the right project or department code is provided.
- Compliance in a few key areas.
Travel Management Companies have a wide range of travel data to share on these topics and can and do share it often. This is travel-rear-view-mirror data that can be used to set up a dashboard. While it may be important to you as the person in charge of travel, how is travel impacting other departments and how will travel be impacted by other departments? You should think bigger and there is more that you may want to consider for this new year.
How can we bring better results to our organizations by adding a few of these considerations to our dashboards? Examples may include:
- How is your policy on cabin class effecting employee retention? Does HR know?
- How is travel anarchy effecting staffing time and costs in finance to manage expense reports and process credit card statements? How is this impacting them?
- Does the travel program and its policies and procedures fall into alignment with the culture of our organization for managing large line items like Travel & Expense?
- Where is travel going to reduce or increase based on our business plan for 2015?
- Will the sales team travel more or less?
- Are we completing one project and adding some that will effect demand? Are certain projects increasing or decreasing in demand?
- Will our team be traveling to riskier parts of the world, do we think that travel is riskier overall, or will travel to risky parts of the world decrease and what should we do to comply with our duty of care commitments to employees? Does legal think all of our processes and procedures comply with our risk tolerance for doing business?
So what will be important to travel and the company’s business plan for 2015? Which of all of these items belong in your dashboard? Let’s face it, we are all stretched and want to leverage our time by making the minimal investment to get the maximum return. So really assessing what can and should be in your dashboard can help leverage your time and deliver results that you can focus on for the maximum impact. Data is not better by the pound. Its quality over quantity. “Measuring what matters” can bring improved results for the new year!
What will be the most important data for you to measure this year?