How to make business travel into talent attraction and retention strategies

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How to make business travel into talent attraction and retention strategies

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Get attract and retain talent in your company it is an essential factor when looking for growth and achieving a prominent place in the market. After all, the differential of any successful company is having a team of employees engaged, motivated and involved. It is at that moment that their talent attraction and retention strategies need to stand out.

According to the report of the Hay Group, 64% of companies have difficulty retaining employees. Among some of the factors that contribute to this percentage is, mainly, the use of exclusively financial methods as a means of motivating employees.

In addition, many companies end up giving less importance to attracting and retaining talent because they think that these strategies will require large extra investments. And this is a huge mistake. There are several ways to invest in these strategies without spending an extra cent. At corporate travel, for example, are great tools for those moments, and the best, are already planned within your operating budget.

In order to help you solve this challenge, the VExpenses prepared this material to guide you when using business trips to your advantage in attracting and retaining talent for your company.

How does attracting and retaining talent impact my company's success?

There are two main reasons why you should be concerned about having a talent attraction and retention strategy strong. The first point that you should always pay attention to is that the image of any company on the market is just the reflection of whoever is in it. That is, if you have a highly trained team, the impression you will leave on the market it is pure excellence.

The second point relates to the competitiveness of the market. Nowadays, companies are increasingly demanding, which in turn need to prove their differentials every day. And, having highly trained people in its staff, is what makes it possible to meet all demands with the necessary excellence.

UA good team of employees, who are engaged, motivated and involved with the organization's issues, tends to be responsible for improving processes, solving challenges and achieving good results.

For these and other reasons, attracting and retaining talent is a strategy that must be within the scope of your company's growth plan, with special emphasis. After all, in addition to being responsible for delivering quality products and services, your employees are the biggest – and best – ambassadors of your marcThe.

How can business travel be used as a strategy for attracting and retaining talent?

With the entry of millenials in the job market style=”font-weight: 400;”>, the traditional way of doing business had to be modified. Nowadays, the companies with the greatest market forces are also those with the most disruptive managements. That’s why, as we said earlier, purely financial rewards are no longer enough to attract and retain talent within the company.

However, corporate travel for work, despite being a practice in the traditional way of business, it still survives today and can be used as a very effective talent attraction and retention tool and that fits the demands of the modern world. Like? We will tell you how you can make this fitting below:

1. Offer travel as an opportunity for growth

Potentially talented employees are usually restless. They always want to achieve more, present a higher quality of services and be recognized as references in the market for this.

Thus, in order to increase the chances of this type of employee remaining, it is need to offer opportunities for personal growth and professional prominence.

Show employees that they will have opportunities to grow within the company. It is at this point that business travel comes in as strong instrument in your favor. Offer them to your employees as incentives for new projects, as promotions or even as a remuneration package. When stimulated, people can produce more and increase the company's income.

2. Promote it as an investment in training

Between sales negotiations and prospects, the corporate travel they may also have other goals, such as participating in training. These trainings can be either offered directly by the company, or participation in events and courses they may offer insights useful for business development.

Offer training for your team it is also very well regarded by employees, who see it as a opportunity to develop your skills. In addition, an employee who feels that the company is investing in it and offering an opportunity for the future, engages and contributes much more to the business activities.

Identify those potential talents within your team and consider offering them training that adds both to his career and to the company's activities. Thus, both the employee himself and the other co-workers will be stimulated, the first directly, and the others through example.

3. Travel can be one of the benefits of the career path

One way to retain talent is, without a doubt, to have an organizational structure that allows growth. After all, promoting the career of employees who are already on your team, instead of opening new vacancies, is a way of valuing the work of your team.

For this reason, it is important to share with employees future vision, establishing the challenges of each one so that it is achieved. It is important to show him how his career can contribute to the company, and to determine the specific and objective activities that will delimit each step of his professional growth.

For example: the career plan of a member of the commercial team includes reaching a stage where he can start doingr business trips to negotiate with prospects. Here, corporate travel will be the biggest stimulus and the major milestone of the stage.

Remember that people are not so engaged in everyday tasks. Hence the importance of establishing a purpose to which your employees can engage.

4. Use business travel as recognition awards

In addition to the growing need for new challenges, the new generation of employees constantly needs encouragement and the feeling that they are important to the organization. Lack of feedback it's a great demotivator, so don't hesitate to reward your team's talents.

There are several ways to make it clear that the person is useful, necessary and indispensable to the company. You can make her understand that the results make her relevant to the business, by assigning a task, setting a goal and offering a trip or other type of bonus. Anything that makes her feel that you have confidence in your work.

Corporate travel works as good incentives in this regard. After all, you will be assigning her an important opportunity to serve as a company representative to third parties. A great opportunity to demonstrate your confidence in your collaborator's skills.

Now that you know how to develop a practical and effective talent attraction and retention strategy, it's time to get down to business and reduce turnover within your company!

This article was written by Carolina Crumo, the marketing team of VExpenses, an expense reimbursement management platform that already helps companies in Brazil and Latin America to reduce by up to 88% the cost and time spent in the expense reimbursement process of employees.

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