Since the consulting industry faces stress to trim travel expenses while maintaining a high level of support, short term apartments have surfaced as a leading cost-saver with the perks of a leading resort - and then some.
The present economic climate and recent public examination of travel and amusement spending has placed business travel on the chopping prevent. The U. S. corporate and business travel market fell fifteen percent in 2009, an estimated business loss of $85 billion, based on PhoCusWright, a global travel investigation firm based in Sherman, Conn.
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In the consulting industry wherever travel is a vital aspect of the business, consulting firms finish up in a juggling act among meeting clients' demands as well as keeping billable travel costs under control. At the same time, most experts still travel more than one hundred fifty days per year and continuously struggle to maintain work-life stability.
Some 85 percent associated with recruiters have seen candidates deny a job offer because it more than likely include enough work-life equilibrium, according to a recent survey through the Association of Executive Lookup Consultants. Some 90 % of recruiters say work-life balance considerations are more essential now than they were 5 years ago.
Today, consulting companies must establish and stick to a work-life balance plan in order to acquire and maintain world-class consulting talent. Which includes providing travel accommodations which feel more like living and fewer like work. Corporate real estate has emerged as a way to much better manage extended travel because of consulting projects.
Companies that will prescribe short term apartments for his or her travelers can realize cost savings of up to 15 percent more than typical hotel accommodations. Even greater, consultants can enjoy more conveniences of home in addition to top quality amenities they expect throughout extended travel.
Clients Test their limits on Travel Expenses
About 50 % of consultants surveyed statement that clients are pressing back on travel expenditures, according to a survey through Consulting magazine. Nearly a third of consultants report in which clients are setting restrictions on travel expenses included in engagement contracts. Roughly every fifth consultants say that clients tend to be asking them to travel much less or find ways to invest less on traveling.
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It really is too early to know whether these types of new pressures will carry on after the economy improves. But consultants should be prepared to still limit or curtail their own travel expenses for the near future.