by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Mice Net : October 2009
mice.net 67 news "Internal company meetings also offer a range of benefits to company performance. Corporate executives most frequently cited idea sharing, better communication, and staff morale as a significant impact of internal meetings." Investing in human capital Business executives and travellers also affirmed a strong relationship between travel and employee performance and satisfaction. The majority of business travellers identified internal company travel as key to professional development (66 per cent), job performance (58 per cent), and morale (56 per cent). And more than 40 per cent of travellers perceive a strong relationship between travel and staff retention. "Corporate executives confirm the connection between travel employee performance and morale. Internal meetings receive the highest marks with 73 per cent of executives indicating a significant impact on employee performance and 66 per cent confirming the importance of travel to employee morale. "And nearly 80 per cent of executives indicate that incentive travel has a significant impact on employee morale and job satisfaction. More than 70 per cent believe that incentive travel has a real impact on employee performance." No go, no grow The analysis was extended to estimate the impact on corporate performance if a company eliminated business travel for two years (2010 and 2011). The chart (at right) shows the declines in profits which would be realized by an average US company. In the first year of a complete shut-down of travel, the company experiences a profit decline of 12 per cent instead of a five per cent increase. The negative impact on profits peaks in the year after the two year travel hiatus. It then takes several years after travel is reinstated for profits to stabilize. "This has critical implications for business leaders facing decisions about their investment in business travel." To download the report visit www.ustravel.org/resources/PDFs/ROI/9-03- 09_Oxford_Economics.pdf. Business Travel Spend % of total travel budget Trip type % of travel budget Return on $1 of investment Average Median of responses Customer meetings 34% $15 --19.99 Conferences 10% $4--5.99 Trade shows 10% $4--5.99 Incentives 5% $4+ All other 42% NA Total sales return for each dollar of investment on travel Median of responses $10 -- 14.99 Corporate Executives: ROI of Business Travel Other 2% Internal meetings 11% Sales meetings 34% Conferences 10% Trade shows 10% Incentives 5% Internal training 7% Client office work 22% US Profits: alternative scenarios % of growth Source: Oxford Economics Alternative scenario: no business travel 2010 & 2011 Baseline forecast 2006 2008 2010 2012 2014