Guide to Travel Risk Management for Small Businesses

Guide to Travel Risk Management for Small Businesses by GTI TravelMore and more people are traveling for business these days, and employers have the daunting responsibility of keeping their employees safe. Risk can come in many forms—terror attacks, natural disasters, infectious diseases and lost passports to name a few. Ensuring that your employees’ business travel runs as smoothly as possible and providing adequate resources if something does happen can improve productivity and save your company money. Smaller businesses have unique needs, and this guide to travel risk management for small businesses can help you make sure all of your bases are covered.

1. Create or Update Your Company’s Travel Policy

If you do not have a travel policy in place, it is vital to develop one and disseminate it to your employees. It may seem overwhelming, but using a travel management company that can assess your needs and help you come up with a formal travel policy makes it much easier to keep your employees safe when they’re on the road.

Many small businesses have employees who are like family, and getting their input on what should be included in your travel policy will help you create and improve a comprehensive policy as your business and the world changes.

If you already have a business travel policy in place, it’s important to review and update it frequently. Keeping your policy up-to-date and creating well-defined guidelines for your company’s travel policy can actually help you prevent a crisis from happening; and your employees will better understand their responsibilities and the procedures they are required to follow in case of an emergency.

2. Be Prepared

Having well-defined plans and processes in place can also help you effectively mitigate the impact of risks associated with corporate travel. Business travel management companies that provide tools, services and solutions for your company’s business travelers before they embark on a trip can also reduce the financial impact on your travel budget when problems do arise. The top corporate travel agencies have immediate access to travel warnings and real-time global happenings. They can provide 24/7 assistance with issues such as lost passports, travel changes, or any crisis that may arise. Having a crisis management plan in place will give your employees a sense of security while they are traveling and improve their overall morale and productivity, which can lower the stress levels of everyone involved.

3. Know Where Your Employees Are

Access to a fast and efficient system that both you and your small business travel agency can utilize will enable you to immediately identify any business travelers who may be affected by incidents such as natural disasters, terror attacks and a multitude of other circumstances. If you have fair warning about a situation such as a weather event, you may even be able to get your employee out before disaster strikes.

Working with a travel management company that can help you develop and manage travel risk management for your small business will save you money in the long run and ensure that your employees have all the resources they need. The peace of mind that comes with knowing your employees and your organization are protected can help your business thrive.