Last Updated on: November 25, 2024 at 6:58 am
As companies prepare for 2025, the need to strategically manage and optimizing HR and travel budgets has never been more critical. A recent webinar, hosted by two industry leaders, Omni HR and TruTrip, covered actionable insights on data-driven budgeting, cost optimization, compliance challenges, dan balancing employee experience with cost efficiency.
If you missed it, don’t worry—here are the key highlights from the webinar to help you stay ahead in planning your HR and travel budgets for 2025.
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One of the key takeaways from the webinar was the importance of data in budget planning. Sani emphasized that data transparency allows companies to understand their travel patterns and make informed decisions.
“What we’re trying to achieve is transparency around what your organization’s current state of travel looks like—either for this year or last year—and what that could mean for the upcoming year,” said Sani. “Data points give managers a better understanding of the current state of travel and where it could go over the next few years.”
Lee echoed these sentiments, highlighting how data can be combined with employee feedback for smarter decision-making.
“From an HR perspective, having data is half the battle won. Employees often know where cost efficiencies and pain points lie,” Lee noted. “Combining quantitative data with qualitative feedback can help HR make smarter resource allocations.”
Both experts agreed on specific data points to prioritize in budget planning. Sani stressed the importance of booking windows and travel policies.
“The closer you book to the travel date, the higher the cost. There’s usually a sweet spot for bookings—like a 53-day range for flights—that avoids last-minute price spikes,” Sani explained.
Lee added another layer, emphasizing tiered policies and lead times.
“Monitoring lead times is critical. We’ve implemented reminders in our HR systems, notifying employees to book six, three, and one month in advance. This prevents last-minute bookings, which can significantly increase costs,” Lee shared.
Striking the right balance between cost efficiency and employee satisfaction was a recurring theme. Both speakers stressed the importance of thoughtful policies that cater to diverse needs.
“It’s about balancing employee experience with business objectives,” Sani remarked. “For long-haul flights, does it make sense to pay for premium economy or ensure they arrive a day early to rest?”
Lee provided additional perspective on tiered policies and flexible options.
“For high-impact trips—like major sales pitches—you might want to prioritize employee comforts, such as fewer layovers or better hotels. On the other hand, for routine travel, stricter budget controls may be sufficient,” he said.
With 2025 approaching, compliance challenges are evolving, from sustainability regulations to data privacy concerns. Sani highlighted the growing importance of environmental compliance.
“Companies may soon be required to report on their CO2 emissions or offset their carbon footprints more transparently. Having a clear audit trail and tools to measure your environmental impact will be critical,” Sani stated.
Lee pointed out the need for robust data protection policies.
“Data privacy is a big issue. Companies must handle sensitive employee data—like itineraries and credit card details—with care. Non-compliance can result in significant fines,” Lee warned.
The insights shared by Sani and Lee underscore the importance of a strategic, data-driven approach to budget planning. Organizations should focus on:
As Sani aptly summarized, “At the end of the day, it’s about striking a balance between cost savings, productivity, and employee satisfaction. By analyzing data, gathering feedback, and aligning with business objectives, you can create policies that work for everyone.”
With the right strategies and tools in place, companies can confidently navigate their HR and travel budgets for 2025 while fostering a supportive and efficient workplace environment.
Omni HR and TruTrip are passionate about helping companies stay ahead. With their expertise, they provide integrated tools and actionable insights tailored to your business needs. Feel free to consult with their teams for guidance on navigating 2025 with confidence.
We also have some exciting news to share! TruTrip is offering a three-month free trial for TruTrip’s standard plan exclusively for Omni HR users, so you can experience the platform’s full potential firsthand. And if you’re a TruTrip client, you can enjoy a 15% discount on OmniHR’s annual plans.
This offer is valid until December 31st, so don’t miss out—contact the sales teams at Omni HR or TruTrip today to learn more.
TruTrip menyederhanakan pemesanan, manajemen, dan pelaporan untuk perjalanan bisnis tanpa kerumitan.