Travel managers say traveler security is just as important to their corporate programs as savings and cost control, according to a recent survey by BCD Travel. Yet only half of travel managers surveyed conduct pre-trip risk assessments. And even fewer—just over 40%—offer risk awareness and mitigation training for employees before they go on the road, the survey shows.
A new paper from BCD Travel breaks down the survey results, delves into today’s travel risks and offers step-by-step guidance for companies struggling to manage those risks. Travel Risk Management: Keeping Business Travelers Safe and Secure explains how to create a corporate travel risk management program, including advice on how to involve the right people, what data to collect, how to communicate to travelers and more. The paper offers real-world case studies on how companies like IKEA have successfully created travel risk management programs.
Top 3 corporate travel risk management challenges
1. Poorly defined ownership of travel risk in the company
2. Lack of senior management support
3. Weak travel policy compliance
Source: Travel managers survey, BCD Travel, November 2014
“Everyone knows on some level that business travelers face a degree of risk—particularly when traveling to an unfamiliar place where people speak another language,” said Claudia Unger, director of Research & Intelligence for BCD Travel. “Now an increasing number of businesses realize that they can lessen or avoid legal and financial consequences by proactively working ahead of time to reduce employee risks during a business trips.”
Conducted in November of 2014, the survey of 510 travel managers finds that traveler safety ranks in importance ahead of efficiency, traveler satisfaction and environmental and social impact. Travel managers say challenges around creating a successful travel risk management program include:
- Uncertainty about what good travel risk management looks like
- Data privacy concerns
- Failure to share needed risk-related information
- Failure to track employees and assess their risk vulnerability
- Lack of employee engagement
“Companies of all sizes now understand that business travel risks are not confined to specific destinations” said Torsten Kriedt, BCD Travel vice president of Corporate Intelligence and Product Planning. “At the same time, risk management has become a board-level issue as legislation and market scrutiny set the bar for the required standard of care.
“The good news is that a wide range of resources and affordable services are available to help companies meet their travel risk management obligations,” Kriedt said. “Whether your travel program sends a handful of geologists to politically unstable regions or sends thousands of account managers and salespeople all over the world, we can provide just the right solutions needed to keep business travelers safe and secure.”
Want to know more about how to create a strong travel risk management program for your company?
Talk to your account manager and download our white paper “Travel Risk Management: Keeping Business Travelers Safe and Secure”.
