Millennials in the workforce prefer experiences over other forms of compensation. This generation would rather travel to new places and try new things than toil away in a cubicle and receive an annual bonus check.

This is good news for companies that are eager to attract young talent without resorting to stratospheric salaries. But placing a greater priority on business travel creates a different set of cost concerns.

Millennials have proven to be more willing than older generations to splurge on the company dime when traveling. Because many consider business travel as a working vacation, they are generally less interested in traveling frugally.

This puts smaller companies and startups in a difficult spot. Making business travel a regular p...