Work Staycations should be embraced by TMCs
Written by Kelly Lai on 14 Sep 2021
For many Travel Management Companies (TMCs), the idea of encouraging clients not to travel might seem absurd. However, the work staycation could be the new travel category offered by innovative TMCs. With those embracing the work staycation opening up new revenue streams, increasing customer satisfaction, and serving the climate-conscious demands of their clients.
With the shift in working habits due to to COVID, combined with the impact on emissions, we are seeing more and more companies like Zurich Insurance Group make big commitments to reducing travel emissions (70% in this case). This places a whole new emphasis and pressure on the travel industry to create innovative approaches and solutions to balancing an effective travel programme with emissions reductions.
What is a Work Staycation?
A work staycation is a work trip where you never leave your home.
This might sound odd, but remember that many work trips are for ‘soft’ reasons. They are for networking between teams, team away days, context switching so projects can finish, white-boarding sessions, to name a few.
The idea of a work staycation is that you setup your ‘trip’ so that you may enjoy many of the same soft benefits of travel, while not clocking up either the travel time or CO2e emissions.
How does a TMC drive revenue from a Work Staycation?
Right now it’s a wild-west, but we believe innovative TMCs will soon start setting up Work Staycation packages. A one day typical team bonding package might look something like this:
Breakfast & coffee delivered (sure, it’s no hotel buffet, but maybe that’s for the better).
Miro day-passes so teammates can collaboratively brainstorm ideas (drop us an email if you’re curious how we do this at Thrust Carbon).
A cocktail masterclass presented by a professional, so everyone can make their favourite beverage at home.
Issue hotel loyalty points. Enable your staycationers to receive the real travel rewards and incentives that go alongside travel.
How much should a TMC charge for a Work Staycation?
There’s no right or wrong answer. Ideally though, you should have multiple price points (just like airlines have for economy, business & first), with entry level options and c-suite options. In general though, a TMC could add a 20+% markup to the services offered.
Can’t a corporate just organise a Work Staycation themselves?
Can’t a corporate just use Expedia themselves? They are short on time, and they don’t need/want the added responsibility of organising this themselves. Just with travel, they also need help crafting a policy, to ensure the work staycation is not abused and falls within budget.
How can a TMC get started offering Work Staycations?
Research what a work staycation would look like, and create two or three sample packages.
Speak to your clients. Get some real feedback. After a year of constant Zooming, they are probably as eager as you are to be offered something different.
Add it to your sales process. In a world where many TMCs look alike, you will have something truly original to set you apart.
Looking for work staycation advice? Thrust Advisory works with some of the world’s most respected brands and TMCs to help them decarbonise. Book a free 1-hour consultation where we can whiteboard what work staycations look like for your business.