Traveler safety (40%) is the No. 1 priority for small to medium-size companies (SMEs), according to a new survey from Corporate Traveler, a TMC; and the GBTA. Safety was followed by cost savings (19%); traveler experience and technology integration (each at 11%); policy compliance (8%); and reporting and sustainability (each at 5%). The survey revealed the top priorities and biggest challenges for companies when it comes to business travel, the most important factors when evaluating a TMC, and more.

Findings are based on an online survey conducted from June 17-20, 2024. The survey targeted stakeholders involved in managing business travel at US-based SMEs with an annual travel spend between $200,000 and $10 million.

A deeper analysis showed that traveler safety was listed in the top three by 69% of respondents, while cost savings was listed in the top three by 57% of respondents, further indicating the importance of these priorities in today’s changing business travel environment.

John Van den Heuvel, president, Corporate Traveler USA, said that as the business travel world continues to evolve, “we’re pleased to have worked with GBTA to develop this report, which reflects the true voice of today’s business traveler and the SME community across the country.” He said the company believes the findings in the survey “will now provide companies with similar actionable insights to successfully navigate the shifts in the industry, while also enabling them to flourish and drive their business forward.”

Suzanne Neufang, CEO of GBTA, said the research addresses the increasing challenges faced by SMEs in managing their business travel programs. “Underscoring the importance of traveler safety, cost savings and increased efficiencies,” she said, “these insights will help inform companies as they seek innovative strategies to navigate these complexities.”

The survey revealed that the biggest pain point, by a significant margin, is the cost of travel (63%). Other issues associated with business travel include understanding the ROI and measuring success (38%), employee traveler tracking (37%), manual processes (37%), and the lack of data/reporting (35%).

Other highlights of the survey include:

• Since spending on business travel remains a significant cost for SMEs, companies are testing various strategies that can help achieve cost savings. Two-thirds of companies are implementing budget-friendly options (65%), while more than half of companies are working with travel management solutions (52%). Additional strategies include revising and reinforcing policy adherence (43%), negotiating lower vendor contracts (42%), or reducing employee travel (35%).
• Despite this increased focus on cost savings, there are still internal and external factors that companies encounter that make implementing these budget-friendly options a bit more difficult. Travel to expensive/high-cost areas (57%) is the most common obstacle, followed by employee behavior (45%), as some employees prioritize comfort or convenience over savings when on the road. Add-ons and extra fees (40%), such as checked bags, priority boarding or hotel room services, often pose a challenge as well.
• With the continued shift in the way travel is being approached, the majority of survey respondents indicate that their company is currently evaluating a TMC (71%), with the availability of travel (86%) being the most important factor in making this decision, followed by customer service (84%) and value/cost savings (82%). The biggest challenge for companies when evaluating a TMC is balancing fees and value (67%), followed by the issue of demonstrating ROI (50%), and identifying the right evaluation criteria (45%).