Travel Risk Management in Corporate Travel

In the spirit of open market and prosper, companies increasingly assume and encourage globalization and the movement of workers to conduct business or expatriation thereof. The obligations of the companies in this situation extend beyond the borders of their home countries, covering staff and facilities that are overseas. The Duty of Care concept, known as the duty of protection, is used to discuss the obligations of any company towards the workers moving for work. The company is responsible for managing any risks that their employee might find and ensure their safety on the trip. All businesses have a legal responsibility to their employees in these movements.

Business Trip

Business Trip

The travel risk management

Any factor that must be considered in relation to the safety of the traveling is integrated into the travel risk management plan. To place an efficient risk management, intervention specialist suppliers, for example, insurance companies specialized in travel, are necessary. The growth of travel involves developing, by the company, most comprehensive travel policies and, above all, to encompass all risk situations that may incur. In this situation the importance of developing a Travel Risk Management plan manifests in employee travels, analyzing those contingencies that may arise in this type of travel. According to consultants, one must perform different actions to develop a plan of complete risk management:

Corporate Travel

Corporate Travel

Assign a person or persons responsible for setting the TRM. It may be company staff in collaboration with the travel agency that organizes movement or an insurance company specializing in travel.

Identify risks your worker may run into

Evaluate risk exposure by workers

Find, mitigate and control risks that your employee may encounter

Communicate and educate travelers about the risk and the actions and procedures that must be performed in these cases

Audit and monitor the program to be successful, analyzing the results and adapting objectives to each situation you can find the employee in

Organizing travel agencies play a key role in the implementation of risk management programs. They are the ones who know and manage the risks of travel efficiently. The TRM should be within the corporate travel policy, so you can see about the workers with any questions they may have about it besides knowing their responsibilities to a crisis.

Travel photos: Levo League, Andy Rennie.

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