Travel Risk Management: What it is, and why and how it should be addressed?

Travel risk management is not just an option required by company executives flying to war-torn countries, although it may well involve this. Whenever your staff travel on business, to whichever destination and for whatever purpose, they face a host of risks of many types.

These risks may not be limited to ones that threaten their personal safety. They may also impact on the reputation or profitability of your company. This article explains what travel risk management entails; what kinds of organisation is it useful for; what risks can be mitigated; and how a good corporate investigation services company offering travel risk management should be sourced.

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Travel Risk Management

Assessing travel risks is an essential part of overall security risk management

You have a duty of care to your employees. For many companies, this is limited to aspects such as health and safety in the workplace, ensuring tripping hazards are removed, and safe methods of manual handling are employed, for instance. Some companies’ teams, though, face greater risks, because their roles extend to overseas travel. However, whether they are travelling to Birmingham, Europe or further afield, your staff are still your responsibility while they are away.

International travel risk assessment is becoming increasingly important in an unstable world where terrorist incidents can happen anywhere without warning, even in countries that are deemed safe for travel by the Foreign Office. So apart from your duty of care, what other motivators are there for considering travel risk management? Well, sound business travel risk assessment policies can help you recruit and retain the best quality and calibre of staff, because they will understand that their security is important to you. It also shows that you are a responsible employer, which mitigates against your company’s reputation being damaged if members of your team are involved in an incident. Additionally, it helps demonstrate to insurers that you have taken all reasonable steps to protect staff. And finally, it gives employees and their families greater peace of mind, which overall contributes to their ability to do the job well. They can concentrate on the objectives set for the trip and be more productive if they do not have to exert excess time and energy worrying about their own personal safety.

Travel Risk Management

What steps are entailed in a good
travel risk assessment?

Before risks can be managed or mitigated, they need to be assessed for their likelihood and impact if they occur. When carrying out a travel risk assessment, many factors should be taken into account. Firstly, what are the company’s objectives in carrying out the journey? Next, it’s a case of determining in detail what hazards the traveller may be exposed to; what risks these pose; and what plan of action is in place to manage them. For successful travel risk management, this involves gathering details about the individual(s) on the trip (their medical history and level of experience, for instance). Also necessary is information on their itinerary for the journey, their destination, and the kinds of activities they will be involved in while away.

The destination is a key factor, as many potential hazards are determined by the country or even region within that being visited. Risks might include diseases specific to that part of the world, issues related to security such as the likelihood of terrorist attacks, and cultural and social differences. Environmental risks must also be taken into account, such as proximity to an earthquake region or humidity and high levels of air pollution, which might aggravate existing conditions such as asthma, for instance. It’s also vital to have details of what level of assistance is available at the destination if things do go wrong. Every trip and every individual requires its own risk assessment: there’s no such thing as a standard, because there are so many variables. Also important to note is that risks can change on a minute-by-minute basis, so real-time information is essential.

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Travel Risk Management

Travel Risk Management

What skills and experience should you look for in travel risk
management companies?

You may have some of these procedures in place already, or you may not have thought of it at all. One way that everyone concerned can have peace of mind is by hiring the services of one of the professional travel risk management companies on the market. These types of business are well practised in identifying and managing travel risks and will tailor their services to your own, unique business and the member(s) of staff involved.

They will have expertise in foreign travel and contacts they can rely on for up-to-date information on changing situations in the destination country. However, don’t just settle for a company that carries out a pre-travel risk assessment and mitigates risks before departure. Your staff are vulnerable all the time they are away, so you should also look for a firm that will continue to monitor the situation in the target country for the duration of their stay, and will be able to assist if things do go wrong. If members of staff are traveling to a location where danger is ever-present, then they may need specific training in handling risks they might face on a daily basis. They may even need on-the-ground close protection from a bodyguard, so your chosen firm should be able to accommodate these aspects too. There can be no one-size-fits-all approach to managing risk. Risk assessment and management during corporate travel should be an established feature of your duty of care policy. If you think your company would benefit from a sound and reasoned travel risk management plan, you need to speak to Millbank Solutions LTD.

Travel Risk Management

Peace of mind with effective
travel risk management

No-one wants the worst-case scenario to happen; but very often when it does, it is because of inadequate planning and management of the risks from the outset. Truly comprehensive travel risk management is complex with so many variables involved and can be difficult for businesses of all sizes to achieve cost-effectively. So why not delegate to the team of experts at Millbank Solutions LTD?

Our travel planning experience is second-to-none, and our attention to detail is meticulous. For peace of mind for you and the assurance for your staff that you take their personal safety and well-being seriously, call us today on +44 (0) 191 909 7007.

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