As the consulting industry faces pressure to trim expense travel whereas maintaining a high level of service, short term flats have emerged as a number one price-saver with all the perks of a number one hotel and then some.
The current economic climate and up to date public scrutiny of travel and entertainment spending has placed corporate travel on the chopping block. The U.S. corporate travel market fell fifteen p.c in 2009, an estimated trade loss of $85 billion, in line with PhoCusWright, a world travel analysis firm based mostly in Sherman, Conn.
In the consulting business where travel may be a vital component to the business, consulting companies find themselves in a very juggling act between meeting purchasers’ demands and keeping billable expense travel underneath control. At the same time, most consultants still visit a lot of than one hundred fifty days per year and constantly struggle to take care of the work-life balance. Some 85 percent of recruiters have seen candidates reject a job provide because of it would not embrace enough work-life balance, in keeping with a recent survey by the Association of Executive Search Consultants. Some ninety percent of recruiters say work-life balance concerns are additional vital currently than they were five years ago.
Today, consulting firms should establish and cling to a piece-life balance policy to amass and retain world-class consulting talent. That includes providing travel accommodations that feel more like living and less like work. Company housing has emerged to better manage extended trip because of consulting comes. Businesses that prescribe short term apartments for their travelers will understand savings of up to 15 p.c. over typical hotel accommodations. What’s additional, consultants will get pleasure from more comforts of home additionally to high-quality amenities they expect throughout extensive travel.
Clients Push Back on Expense Travel
About 0.5 of experts surveyed report that shoppers are pushing back on expense travel, according to a study by Consulting Magazine. Nearly one-third of consultant’s report that purchasers are setting limitations on expense travel as half of engagement contracts. Roughly one in 5 experts say that clients are asking them to move less or find ways in which to pay less on traveling. It is simply too early to know whether these new pressures will continue after the economy improves. However, consultants ought to be prepared to continue to limit or curtail their expense travel for the foreseeable future.