Travel and expense policy

Happay28 Oct, 2022Business

According to HubSpot's 2019 Travel and Expense Management Trends Report, only 72 percent of firms have a written policy for managing employee travel and related expenses. The cost of business travel is the second highest expense an organisation must bear, after compensation. Employees are expected to adhere to the firm's travel and expense standards when representing the company. Standard components of an organization's travel policy for employees include per diem (a daily stipend for travel), allowed modes of transportation, and the maximum amount that can be spent on such trips.