July 16, 2024

TravelPerk study highlights human benefits of business travel

Business travel helps organisations attract and retain talent and keeps employees motivated and engaged, according to a study published today by TravelPerk.

TravelPerk’s 65-page ‘Value of Business Travel‘ report found the benefits of travelling for work “go beyond financial performance, with the human benefit of business travel proving to drive significant value for both companies and their people”.

“Business travellers reported increased productivity, as well as higher likelihood of staying in their current job, directly reducing company attrition rates,” it says.

Furthermore, travelling for work helps with an individual’s career development by increasing interactions with colleagues, increasing knowledge and experience, and giving more opportunities to meet partners and customers.

It also helps to increase an employee’s visibility in the company and leads to more interactions with senior team, according to the study.

The TravelPerk report is based on a survey of 4,600 business travellers and 625 travel managers and admins who use the TravelPerk platform plus the views of 2,000 companies outside of its customer base, including 540 C-suite leaders. The three survey audiences were polled in the US, UK, Spain and Germany.

The research also found:

  • 75% of HR decision-makers surveyed said advertising business travel opportunities in job descriptions makes the role more attractive
  • 63% of business travellers say traveling for work makes them more likely to stay in their current job. This is even higher amongst Gen Z, where 76% say business travel influences their decision to stay with their employer
  • 79% Gen Z business travellers want to travel for work to explore new places, compared to 72% of Millennial’s (typically 27–42 years old) and 60% of Gen X (typically 43–59 years old)
  • 34% of Gen Z employees are keen on prioritising wellbeing, with 34% saying they’d like to be able to expense a wellbeing activity i.e. yoga, exercise class, and 41% saying they’d like their company to allow them to extend trip time.

The study examined how changes in the workplace are leading to a greater need for in-person meetings.

Based on the responses, 85% of fully-remote employees have participated in company get-togethers of one night or more within the past year.

This number falls to 78% of those who work in-office 1–2 days per week, 68% of employees who are in-office 3–4 days per week, and 69% of employees who are in the office full-time.

“Humans aren’t designed to interact only online and we’re actually seeing more investment in social employee travel experiences such as offsites and get togethers, particularly from remote and hybrid companies,” says TravelPerk CEO Avi Meir in the report.

The report also looks at the use of AI in a business and how it will impact business travel.

“AI tools can transform how anyone does business, but how you adopt its capabilities is crucial,” says Meir.

“We’ve always focused on a human-first approach to implementing AI at TravelPerk, automating back-end tasks so our people have more time to interact with colleagues, customers and partners. This is a game-changer to engage teams and build a positive future in a tech-first world, and I’m not the only leader who shares this view.”

The report was launched at an event in London this week where the findings were discussed by Meir and a panel of other experts, including TravelPerk CFO Roy Hefer, Tom Richardson, Vice President International at Personio, James Keating, CMO at Pleo and Chris Male, Senior Manager, Procurement at JustEat.

The panel was moderated by Bev Fearis, Editor of The Business Travel Magazine.

travelperk.com

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