Whether it is security, environmental, or health-related risk, companies are adopting innovative ways to tackle risk factors. Duty of care obligations to corporate travelers have never looked more different, and these days, have become prerequisites for each travel program. In the past few years, the pandemic has emphasized the importance of having a business travel risk management program. This article comprises the steps to build an effective travel risk management program for businesses.
1. Define policies and procedures
Companies have a duty of care obligation to their employees to facilitate safe corporate trips and travel plans. The success of the safe travel program depends on how well a company crafts its travel security policies and procedures and communicates them to its employees. From details on regional restrictions to what employees can do in an emergency, a business travel policy should cover all these details adequately.
2. Access real-time data for informing travel decisions
Organizations on guesswork should not make decisions related to corporate travel safety and well-being. Ensuring that companies have access to real-time information informing travel-based decisions is an integral part of creating an effective business travel risk management program. Many travel management companies offer data and information businesses need to make safe, reliable, and practical travel decisions.
3. Provide relevant pre-travel training to the corporate travelers
Not only company managers but also employees should complete pre-trip training to keep themselves safe during the trips. From material covering emergencies and crises to basic on-the-road skills and safety and health training, companies should make sure to train and update employees as a crucial part of any travel risk management program, specifically when traveling to high-risk destinations.
4. Develop a travel risk assessment framework
When traveling to higher-risk destinations, it is essential for companies to develop a solid assessment framework for evaluating traveler safety. Political instabilities, the potential for natural disasters, regional endemic diseases, crime rates, and country-level requirements are some potential threats that employees might face when traveling to a particular region. Make sure to assess all these security concerns while creating a travel risk management program.
5. Formulate a communication and support plan for employees involved in incidents during a business trip
It is essential for the employees to know who to contact and how to access support in case they get involved in an incident during their business trip. From unexpected hotel cancellations to serious health emergencies, every crucial aspect should be covered in a crisis management plan. Also, employees should know how they could report any incidents and what their employers would do to support them.
As a business grows, traveling to different parts of the world becomes more of a fixture. however, with business trips, different risks are involved, and it is important to create a business travel risk management program to manage these risks. Following these five steps will help in building an efficient and effective travel risk management program.