Workations on the Rise: Should Your Employees' Travel Expenses Be Covered?

Workation is a relatively new term given to the process of combining a vacation with work. There’s already a growing ecosystem of digital nomads who carry their laptops to the beach, sauna, mountain top, and other scenic locations. Well, you get the idea!

It’s different from freelancing or WFH because its primary focus lies on travelling and working from anywhere. The question is - if your employees plan a workation, should you be covering the expenses? Let’s find out!

An Argument for Remote Work

While a lot of people are working from home right, even before COVID-19, almost 70% of employees around the world worked remotely at least once per week. Out of these, 53% worked from home almost half the week.

These statistics, along with the fact that employees have been working remotely for over a year now, clearly show that remote work isn’t complicated. In fact, it may soon become the norm! However, workation benefits can only be understood once they’ve come into practice.

Solving the Productivity Dilemma

Now, you may be inclined to think that employees might not be as productive when working from outside the office. However, that’s not true. As per a Stanford study, remote employees turned out to be 13% more productive than employees working physically from the office.

Furthermore, employees who worked remotely also spent more time with customers than on office routines. If your business is considering going remote, you may want to take a look at workations and see how they might benefit you and your employees in the long run.

Increasing Employee Retention

One of the best things about paying for employee workations is that your company has a perk like no other! It might help you in hiring the best talent, as well as in employee retention. Companies can employ various business travel innovations to help employees plan workations and estimate business travel expenses.

The Cost Benefit Analysis

It’s a universal truth that if you don’t have to manage employees in the office, you’re able to significantly cut down expenses. You’ll no longer require massive infrastructure and breakout areas, and you’ll save on electricity, activity arrangements, and more.

Every remote employee reduced company costs by thousands of dollars, and remote employees themselves saved money on fuel, food, coffee, and clothes. If companies use even half the money they save to sponsor employee workations, they might just exponentially increase their ‘best place to work’ rankings.

Here’s How to Do It!

If you’re interested in covering your employees’ travel expenses, you need a robust business management tool that not only has a vast inventory of hotels, flights, and other transportations options, but also includes an approval system, central payment method, booking modification support, a record of employee travel history, and more.

myBiz, backed by MakeMyTrip, is one such business travel booking and management platform that includes all the above-stated features, along with options like gift cards, downloadable travel expense reports, business travel policy integration, and 24-hour customer support.

If you wish to learn how myBiz can help you and your employees plan workations...

Sign Up with myBiz!