Why Travel Risk Management is so important
Having a comprehensive travel policy in place and partnering with a travel management company are valuable steps towards optimising corporate travel. However, it's also crucial to consider the risk management and safety aspects of business travel.
Even with a well-structured travel program, organisations should give thoughtful attention to protecting the well-being of their employees while they are traveling for work. Implementing robust risk management protocols and monitoring travellers' safety is an essential complement to the cost-saving and operational benefits of a travel policy.
By addressing both the logistical and the risk mitigation components of business travel, organizations can ensure their travel program is truly holistic and responsive to the full scope of their employees' needs when traveling on behalf of the company.
Organisations must be prepared
The unpredictable nature of the modern world means that organisations must be prepared to address a wide range of potential threats to the safety, security, and well-being of their traveling employees. These threats can range from minor disruptions like flight delays or illnesses to major crises such as natural disasters or labour action that may cause service disruptions.
At best, such incidents can negatively impact productivity and efficiency. At worst, they may put employees in harm's way. While the most severe scenarios are relatively rare, organisations and their leadership have a fundamental duty of care to mitigate travel-related risks as much as possible. By proactively implementing robust risk management protocols, companies can reduce the likelihood of their travelling staff being exposed to dangerous or compromising situations.
Comprehensive travel risk management is an essential component of a holistic corporate travel program, protecting both the organization's interests and the welfare of its mobile workforce.
Travel Risk Management vs Duty of Care
Travel risk management is a proactive, comprehensive approach focused on identifying, assessing, and mitigating the diverse risks that travelling employees may encounter. It involves implementing measures to protect both the organisation and its mobile workforce, outlining consistent protocols to keep travellers safe from potential harm.
Developing and executing an effective travel risk management plan requires collaboration between multiple organisational stakeholders, including procurement, travel, human resources, legal, and management. By anticipating and planning for a range of travel-related threats, companies can fulfil their duty of care obligations.
Duty of care is a moral and legal responsibility that companies have to ensure the security, safety, and well-being of their employees, contractors, and their families when they are traveling for business purposes. As global business travel continues to grow, especially to emerging markets, the importance of robust duty of care practices has increased significantly.
Duty of care is not limited to high-risk travel scenarios - it is a critical component of any responsible corporate travel program. While travel risk management focuses on the specific mitigation strategies, duty of care represents the overarching obligation that organisations have to protect their mobile workforce.
Why are specialists important in helping manage travel risks?
Ensuring the safety and security of travelling employees is a shared responsibility across the entire organisation. While companies can leverage the expertise of a travel management company (TMC) to help fulfil this duty, the ultimate obligation rests with the organisation itself. A reputable TMC can play a valuable role in corporate travel security by assisting the organisation in analyzing its travel program and understanding the specific risks associated with the destinations where employees are traveling. This allows the company to put appropriate health and safety precautions in place based on the threat level of each location.
However, the organization cannot simply outsource its travel security responsibilities to the TMC. It is still incumbent upon the company, through cross-functional collaboration, to develop and implement a comprehensive travel risk management strategy. This includes establishing clear policies, protocols, and emergency response plans to protect the well-being of the mobile workforce.
By working closely with their TMC partner, organisations can gain vital insights and support. But the ultimate accountability for corporate travel security rests with the company's leadership and its duty of care to employees. A shared, proactive approach is essential to mitigating travel-related risks and safeguarding the organisation's most valuable asset - its people.