Understanding Corporate Travel Risk Management

Tourists walking around Dam Square in Amsterdam.
European Highlights: Barcelona, Nice & Amsterdam
February 6, 2020
Tips for Developing a Corporate Travel Policy
February 14, 2020
Show all

Understanding Corporate Travel Risk Management

A plane landing

Running a business of any size comes with some risks involved. When you add travel to the equation, it’s difficult to predict the challenges that may be presented ahead. With a travel management company you have experienced travel risk management solutions, so you won’t be moving forward with blinders on. 

Thanks to a solid foundation in corporate travel risk management, Forest Travel helps you obtain an understanding of the obstacles your business may face moving forward. Here are just a few ways you can be prepared.

1. Establish a Corporate Travel Policy

Many travel risk assessment advisors would agree that a great starting point is simply consulting your corporate travel policy. Don’t have one? Be prepared to seek some basic advice and put one in place for your team. 

business risk management meeting

The main purpose of a travel policy is to standardize your company travel practices and expenses. Your basic policy should include safety and security expectations. Establishing a corporate travel policy means your employees embark on business travel as informed members of your company. 

2. Know Destination Risks

Each location your employees travel has unforeseen risks – but some areas are more prone to problems than others. Travel risk assessment means outlining potential snags and coming up with a plan to handle them. Heading to an area where a certain disease is more prevalent? Is petty theft more common than normal? Hiring a travel management company can help you navigate each location before departure. 

3. Insurance for Employees

When it comes to travel, you can never have too much insurance. Working with an established and reliable insurance company can be a gamechanger for your team on the ground. When faced with an injury, malady or theft, the last thing anyone wants is to have to navigate time-consuming bureaucracy in order to solve the problem – or be unable to access help when they need it. Make sure worldwide assistance is readily available 24 hours a day.

4. Basic Training

two women and man working

Be prepared to provide some training before departure as part of a pre-emptive travel risk management solution. Perhaps employees will consult a travel doctor and get updated vaccinations and advice in the months before they travel. Or maybe preventative eating habits are a part of your preparation. Be prepared to communicate any increased risks to employee health and wellbeing before departure.

5. Duty of Care

Your business could face liability issues if you do not provide duty of care to your employees when they travel. Although each country differs on this standard, a bit of research means your company is informed of basic expectations. Taking care of your employees is the right thing to do. Make sure you’ve familiarized yourself with travel risk management solutions when it comes to your business trips, or hire a reputable company to do the research for you.
Ready to embark on your next trip? Consult Forest Travel and be aware of the risks involved. Contact one of our consultants to help you provide your employees with the ultimate travel plan.

Author Image

Jhonny Stathopoulou

Vice President of Sales

Jhonny is an innovative travel professional with experience leading teams. He is dedicated to high-level customer relations, while an expert in financial management, and operations. Jhonny’s passion for traveling matches his professional experience.