Central Indiana, Indianapolis, IN

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Strategies for Reimbursing Staff for Travel Amid High Gas Prices

  • 1.  Strategies for Reimbursing Staff for Travel Amid High Gas Prices

    Posted 05-25-2022 14:53
    I'm interested in learning if companies are making changes to how they reimburse staff for travel with increasing inflation and gas prices. We're a midwestern GC/CM. Typically, we reimburse mileage based on the IRS recommended rate. I've seen some articles that suggest fuel equals about 30% of that total rate with depreciation, insurance, and maintenance comprising the balance. With gas prices continuing to rise have you made any adjustments to how much you reimburse or have adopted other strategies to keep employees traveling to their jobsite and meetings without feeling like they're losing money to travel? 

    Appreciate your thoughts,
    michael

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    Michael Preyss
    Chief Financial Officer
    Garmong Construction Services
    Indianapolis IN
    (317) 682-1001
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