With the economy turning around and more companies investing in corporate travel, businesses have to be aware of the risks involved with sending their assets across borders. According to the World Health Organization, there are more than 900 million international trips embarked every year.
Global travel may expose corporate travelers to several of these risks, and the exposure of which can be minimized by instituting forward-thinking risk identification strategies.
A recent study, performed by the Global Business Travel Association, surveyed more than 250 corporate travel professionals and found that, despite a slip in business trip volume between 2012 to 2013, experts forecast trip totals to rise 1.6 percent in 2014. The amount of business trips in 2014 is expected to be around 459.2 million, according to the report.
A Best Western Small Business Travel survey discovered that of 400 U.S. small-business owners with travel plans, at least 89 percent expected to have as many or more trips at the end of 2013 compared to the fourth quarter of 2012.
Global travel can bring a plethora of risks and how an organization cares - successfully or unsuccessfully - for their assets can have long-term consequences. Seasoned travelers may not think twice when entering a new country since they have done it many times before. Employees that have this mind set may be putting themselves and the company in serious danger.
Corporate security departments should educate their travelers about what type of dangers are involved depending on the travel location and how companies can best mitigate those risks. Being able to keep travelers up to date with detailed information on a destination's risk environment could help increase situational awareness for employees on what dangers to avoid.
Businesses should promote stricter dress-codes for travelers as workers typically receive more genuine service, reported Forbes. Looking the part of an often-traveled person could reduce risks if a problem did arise for worker in a foreign country.
Not only do corporate travelers have to understand the possible risks, they should understand cultural etiquette, possible natural disasters, military activities, and weather and road conditions in their destination area.
Companies are finding that employing an incident command system can help alert businesses about the possible risks for travelers. Global security is growing harder to oversee, and corporations with business travelers need to understand the importance of risk identification solutions.