Thirty percent of companies cut back on business travel in 2010 in order to economize. But for 37% of those that did, the strategy might have been penny-wise and pound-foolish. That’s the percentage of respondents who told CareerBuilder.com pollsters that traveling less on business had a negative effect on business performance.
When asked how fewer business trips affected their bottom lines:
- 12% said it had resulted in less effective
- 11% reported fewer sales
- 10% found poorer execution on internal business initiatives
- 8% thought customer loyalty had taken a hit.
Don’t expect change any time soon. With the cost of air travel outpacing inflation due to high fuel costs, 77% of firms polled said business travel this year would be about the same as it was in 2010.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/14794/is-less-business-travel-hurting-business "