I'll be waiting for a vaccine which I am on the list for the next trail for the Oxford one.
But will clients want me to visit or where will I meet them if they are not in the office.... |
The reopening of Borders will not reopen many corporate travel wallets including mine.
MS Teams works for many but not all things. Flying will not return to pre covid levels of discretionary, jump on a plane, travel. The slashing of corporate travel budgets is already here for Conferences, done attend by Zoom. Trade shows, send 2 not 10. Discretionary Meetings, Use Teams. internal international meetings Ditto. Customer visits driven by customer. A top leader in Europe recently told me "I could do my job without leaving my loft apartment in London every again" = Savings as long as they hit plan |
Originally Posted by GLOBALFLYERCT
(Post 32648369)
Savings as long as they hit plan
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WFH? I have for the last five months, thanks to the virus restrictions, been living out of two Samsonite spinners and at least two different hotel rooms a week. @ 49 flight segments to date and six more scheduled in the next ten days. I can tell you that airplanes are filling and airports are slowly coming to life. Most flights are inexpensive all it takes is a need or a desire to go. I am more than willing to share my travels and workload, any takers?
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I think the purpose of the travel will impact when it returns. Some of that will in turn be impacted by work at home. Think of sales for instance. We are work from home where possible and approved by the supervisor. Most purchasing decision makers are working at home, at least a lot of the time. We have restrictions on how many people can be in a space, as do most other places around here (maybe all of them are). So it seems that sales calls are at least largely reduced. Most of my travel before the pandemic was probably for conferences. At least many of the large conferences are changed to virtual well into next year. You can’t readily say in December that you want a 20,000 person conference to happen in February. That decision has probably already been made. Sure, I know of one I usually go to in January that last time I heard was up in the air whether in would be on site, and I’m sure there are others as well. But I also know larger, later in the year conferences that already went virtual. Many hotels, speakers, conference space, buses for attendees for each big conference That doesn’t happen fast.
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Originally Posted by GLOBALFLYERCT
(Post 32648369)
A top leader in Europe recently told me "I could do my job without leaving my loft apartment in London every again" = Savings as long as they hit plan
This is a great time to cut unnecessary business travel. All that pointless travelling around the globe just because "we always did it that way" is gone. However, in all those instances where personal contact brings revenue, we'll see travel restoring as soon as feasible (this can already be seen in Europe) because even if some companies insist on videconferences, they will be quickly replaced by those who will use their willingness to travel to their advantage. |
Originally Posted by gruimed
(Post 32647210)
Currently many large corporations ban biz travel till June 2021. Undust your crystal ball - when do you think biz travel will resume?
https://www.businesstraveller.com/bu...til-2024-iata/ |
Originally Posted by gruimed
(Post 32647444)
In theory. In practice for many companies it would not be so easy to get rid of their offices.
https://www.sfgate.com/business/arti...e-15525421.php My wife’s company already terminated lease of 2 floors from 3 they had. Even with reduced office space of 3x, on the remaining floor it is occupied only by 20%. They will be WFH and no business travel till end of 2021. |
Originally Posted by gruimed
(Post 32647790)
...if you don't have kids
I absolutely love WFH and never want to go back. The flexibility has made me more productive than ever. Microsoft Teams has been fantastic. Our company won't allow non-essential travel at least until next year. Essential travel is done via NetJets. The Phenom 300 is nice, but I still prefer the Citation X. |
My Boss has a good ball (crystal!)?
September 2019 - Boss announces new incentives to reduce travel costs:
Achieve all targets within Bonus Matrix in Q4 & Q1 but reducing domestic / international flights / hotels wherever possible to zero, then 30% of travel costs saved will be added to individual bonus. About 50% of Senior Execs took advantage, achieving targets, resulting in significant increase in personal bonus. Others felt that targets could not be achieved by predominantly WFH, and therefore lost out. From the start of April, with everyone WFH and no client visits, sales are more or less on target. Those that lost out are now pleading with the Boss to reimplement the travel savings from October this year - although he has categorically stated it will not be repeated, and that all travel budgets until April 2021 are now zero. Travel Budgets for FY 21/22 are likely to be only 15% of pre Covid-19. An immediate saving of +/- $4m. |
Originally Posted by CO-PLAT
(Post 32648996)
I find this bizarre (I don't have kids).
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Originally Posted by gruimed
(Post 32647210)
Currently many large corporations ban biz travel till June 2021. Undust your crystal ball - when do you think biz travel will resume?
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Here, I work for a corporation with an annual revenue of EUR 100bn.
At the moment business travel is roughly 1% of what we had in 2019. Basically, business travel (domestic and international) is banned, because no one wants to take the risk to get infected during a trip and infect fellow colleagues. Our 2019 after work events during a workshop could be considered as a superspreader event in 2020. Employees and managers are getting more and more used in running workshops via remote tools. And with each workshop these remote tools are getting better (or are better used). IT has significantly increased bandwidth. Once a Covid-19 vaccine is deemed to be safe, effective and has been distributed (I assume this will happen in Q2 2021 at the earliest), I predict that business travel will kick off again - however, in 2022 I expect that business travel will reach 20-30% of the 2019-levels. Management will still dissuade colleagues from travelling, because it has been shown that remote workshops work ... and remote workshops save lots of travel time and costs. Mind you - in our business we have only a very few sales people who need to travel around the world. |
Originally Posted by gruimed
(Post 32649183)
This may sound patronising, but you really don't have a clue what you are talking about :). Can you imagine working with constant (like every 15 minutes) interruptions? No, you can't :).
I struggle to get 5 minutes between interruptions ! |
Conventions will start being allowed on March/April 2021, assuming vaccines start being deployed in Jan/February. I think between March and June is a good bet
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