In your experience, why do some companies not have a corporate travel risk assessment and management policy in place?

The simple reasons that some companies still do not have corporate travel risk assessment and management policies in place is that they fail to understand the value of increasing the return on investment by having better travel management systems and the fact that travel managers, travel management companies and providers don’t include the simple service inclusion of risk with cost at the time of enquiry or booking. This goes for online systems too. If all companies understood equally that a single step or process included with their already existing travel procurement or booking systems was inclusive of travel risk assessments and management, at the time of enquiry/booking, where personalised to the individual traveller/journey and could consolidate expenditure and costs into their one process, you would see less than 1% of businesses not utilising the more contemporary approach to integrated travel and risk management.

A simple test for any business to evaluate if they adequately capture, measure and subsequently manage the risk of travel is to have them produce the personal risk rating declared or captured at the point of approval or payment. If they can’t product a personal, tailored management assessment for that traveller, journey and destination that varies from others within their business travelling the same route, then they simply don’t have a travel health, safety, security and risk management. We find more businesses fall into the unprepared category when using this measurement but it is the only way to demonstrate compliance and effectiveness as opposed to “yes, we purchase this product annually which means we are covered”.

Regardless of whether they want to or not, or whether the company informed them or not but travel managers are health, safety and security risk managers. Most however don’t have the education or training to adequately manage risk, which in turn means it gets left out of their daily routine and travel booking habits which contributes significantly to a company being inadequately prepared and exposed.

 

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