In an era of increasing workforce shortages, calculating the total impact frequent travel has on valued employees is important.
Corporate travel management programs are missing key concerns voiced by executives on the road. Days away from family and countless extra hours on the road harms employee retention.
According to CAPA’s Blue Swan Daily, only 6% of companies track the impact of travel on retention. Research clearly highlights there are gaps in what is important to business travelers and what their companies measure and use to lessen their trip friction. Companies could save money in recruitment and retention by tracking traveler experiences, and adjusting strategy accordingly.
The new calculation on corporate travel costs should take into account that travelers average nearly four hours navigating the airport both before and after the flight in addition to the actual flight time. Factoring delays and cancellations, a recent study has shown airline travel could be between six and 10 hours per trip.
Companies are already looking at travel calculations and concluding airline delays and circuitous routing, which actually cost them far more than understood. Adding in the fact that it costs more to recruit than to retain a valued employee, the case for flying private is not only cost-effective but good for competitiveness, profitability and employee satisfaction.
Companies are now using a mix of private and airline travel because they are including other factors in their travel cost-benefit analysis. They know more than half of business aviation flying is for mid-level customer service and sales personnel and more than 61% of companies using business aviation have only one aircraft and less than 500 employees, illustrating the value for small companies.
Companies using private aviation are far more successful at retaining employees than those who don’t. Consult with a PJS representative to find out how flying privately for business can benefit your organization.