How to Reduce Corporate Exposure with a Travel Risk Management ...

As the world changes and businesses continue to send representatives to further and further points on the map and into areas that have unstable political or civil issues, travel risk management becomes important in an effort to protect companies and employees from undue exposure. Two of the most important elements of travel risk management include foreseeable risk and duty of care. Ignorance of these two items produces more risk exposure to companies and travelers than any other hazard. A full understanding and adoption of travel risk management that includes education for employees on the duty of care and on the part of travel managers to understand foreseeable risk is paramount to protect their company.

Foreseeable risk can easily be explained by looking at a surfer who surfs in water that is known to have sharks. The higher than normal chance of a shark attack represents a very easy to determine foreseeable risk for the surfer. A traveler in a taxi has an expectation that the cab and its equipment is in good working order, so there is no reasonable foreseeable risk when the seat belt faisl and an injury is incurred. The expectation of reasonable training, working equipment and driver skill eliminates this seatbelt failure as a foreseeable risk for the passenger.

Employee interaction on behalf of the company, regardless of whether they are interacting with other employees or the public describes the definition of duty of care. Actions, in this case, speak louder than words as only the action of the employee can be considered and not their intent, as long as their

actions are what reasonable and prudent person would take they are safe from negligent claims. Any deviation from this norm can be considered negligent and expose the company and the traveler to risk. Acting on behalf of a company does not provide an exclusion for the actions of an individual.

There are numerous risks that must be considered by companies before they send their employees on business trips and these risks continue to grow with each passing year. Ensuring that the traveler is aware of corporate policies regarding travel and appropriate actions while traveling on behalf of the company as well as understanding that the business is responsible for the actions of that employee. As new countries emerge as business destinations the risk of putting certain people into these regions must be addressed. Areas that are affected by social and political strife and upheaval must be monitored more closely than ever. In many cases choosing picking the traveler and matching them to specific regions can reduce the amount of prejudice and danger that employees are exposed to when traveling.

Travel risk management continues to be an expanding area as additional areas of concern become known or are challenged. Ensuring that your human resources and travel managers keep current on these trends can reduce your risk as well as to help manage future risks. Risk and Travel Management in advance and training business travelers on these policies is the beginning step to reducing your risk exposure.

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Source: http://stop-right-there.com/40095/how-to-reduce-corporate-exposure-with-a-travel-risk-management-plan/

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