Usually lower than £5 per transaction, rounding discounts are frequently used by independent travel agents to compete with high street rivals – but the reductions eventually impact businesses’ bottom line.

"Stop the rounding discount – sell them [clients] yourself and your customer service,” Woodall-Johnston told Hays IG members during the group’s annual conference on Saturday (4 March).

“The customer is not going to walk away for a £1 discount.”

According to Woodall-Johnston, cutting down on unnecessary rebates will help with some of the challenges the sector is facing, including higher national living wage rates and increasing energy costs. 

It will also bring the group’s margins to a minimum of 11% for the whole 2023.

“Really small, marginal changes make such a big difference to the bottom line,” he added.

Agents should also focus more on diversifying their business, as well as utilise promo codes, said Woodall-Johnston. 

The Hays chief has nevertheless reiterated the company’s commitment to its independent members, echoing the words of Dame Irene Hays. 

Irene Hays said earlier on Saturday that the independent group was a real “partnership for profit". “We focus on helping our partner members to be the most profitable they can be,” she said. 

“The opportunities, at this current point in time, are immense and I have never been more committed to the Independence Group.”