Corporate Travel Policies Embrace the Sharing Economy

More and more business travelers are relying on the sharing economy, and their companies appear to be taking notice.

According to a recent survey from expense management and invoice automation solutions provider Chrome River Technologies, nearly eight out of 10 (78 percent) medium-to-large companies allow their employees to utilize ride-hailing services like Uber and Lyft to get around for work.

Meanwhile, nearly seven out of 10 (68 percent) allow their employees to use home-sharing services like Airbnb while traveling for business.

The online survey of 100 chief financial officers, controllers and treasurers at 100 U.S.-based companies with a minimum of 1,000 employees found that fewer than one-quarter of companies outright ban their workers from using sharing services.

Only 17 percent don't allow employees to use ride-hailing services, while 24 percent prevent employees from booking accommodations through home-sharing platforms.

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However, with only 13 percent mandating ride-sharing apps and 12 percent demanding employees book through home-sharing services, it's even less likely for a company to require road warriors to utilize sharing services.

A majority of corporate travel policies provide employees the freedom to choose, with 48 percent allowing business travelers to use Uber and other ride-hailing services without mandating it. Four out of 10 companies have similar policies regarding accommodation-sharing websites.

"Corporate travel and expense policies should be agile enough to address the ever-changing nature of business travel. It’s refreshing to see that larger organizations have already incorporated sharing economy services into their policies," said Chrome River CEO, Alan Rich, in a statement. 

Fewer than one-quarter of U.S. companies have no policy regarding emerging sharing economy services.

READ MORE: How Technology Has Transformed Business Travel

The rise in corporate rules and regulations pertaining to the sharing economy mirrors a rise in usage among today's travelers. While road warriors and leisure travelers alike have grown more familiar with sharing services, survey results show that users remain somewhat untrusting of the new resources.

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