Why risk management practices are critical to business travel policies

Posted on Sep 09, 2014

As the economy slowly builds back up after the recession, more businesses are investing in sending employees on international trips, assignments and other destinations for work. While sending corporate travelers overseas could help improve business operations and better global connections with partners and sister companies, many organizations neglect protecting employees when they are traveling, the National Law Review reported.

Businesses need to educate employees on risk management strategies before they travel abroad

Even though several companies do have some sort of risk management strategy for their organization, many fall short of instituting a successful plan before an incident happens when it could have been prevented in the first place, the source cited.

Travel policies for businesses can easily be put on the back burner for many institutions. According to a Business Travel News 2013 survey, which asked 180 travel and meetings management experts what portions of their risk management plan were successfully handled in their firm's travel polices, nearly 20 percent admitted "none."

Creating a mass education course for all employees

While some companies might only send a few workers for international work each year, businesses should still educate all employees on crisis planning and other risk mitigation strategies when traveling, the National Law Review reported. Business executives have to make sure they aren't excluding themselves when it comes to travel training. Organizations need to train every one of their employees and even those who work remotely.

According to the National Law Review, here are a few things businesses should include when crafting a proactive risk management policy:

  • Have simple communication protocols that are easy to understand and to enforce when workers are abroad.
  • Policies should be fully tailored to each specific department and employee in the organization to know the exact needs of corporate travelers.
  • Plan out strategies for both employees and travel security departments on any medical or health emergency while workers are abroad.

IT security to protect company assets

One of the newest risk management strategies for workers traveling to foreign countries is increasing their IT security. According to Business Travel News, workers are easily susceptible to vicious Malware and other harmful computer viruses when freely using Wi-Fi while abroad. More risk management plans are including computer security to protect company assets by outlining pre-trip tips for employees before they enter a new area.

As the focus shifts toward protecting company assets and the safety of employees, businesses should look into creating a successful risk management plan.

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