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Travel Risk Management Today’s Challenges in a Risky Environment (C) iJET International, Inc. All rights reserved.

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Presentation on theme: "Travel Risk Management Today’s Challenges in a Risky Environment (C) iJET International, Inc. All rights reserved."— Presentation transcript:

1 Travel Risk Management Today’s Challenges in a Risky Environment (C) iJET International, Inc. All rights reserved.

2 iJET.com (C) iJET International, Inc. All rights reserved. WHY WORRY? 2 UNPREDICTABLE RISKS CRIME & CORRUPTION UNKNOWNS Political Environmental Cultural Geographical Other TRAVEL INCREASES VULNERABILITY DUTY OF CARE REGULATORY REQUIREMENTS INCREASING GLOBAL REQUIREMENTS INCREASED CORPORATE EXPOSURE REPUTATION LITIGATION LAWS Health Safety Privacy Other FINES & COMPENSATION

3 iJET.com (C) iJET International, Inc. All rights reserved. Defining “Duty of Care” The requirement to do everything “reasonably practical” to protect the health and safety of employees Legal, ethical and moral responsibility of an organization Duty to provide a safe work environment – this extends to hotels, airlines, rental vehicle, ground transportation, etc. “Standard of Care” – if others in your industry or like- sized company are doing something to protect their staff, then your company can be held liable for not doing it 3

4 iJET.com (C) iJET International, Inc. All rights reserved. 86% of travelers believe that their firm has a legal obligation to support them while abroad 50% + would consider taking legal action in the event of an emergency being mishandled 38% of travelers said they never do any research on the country they visit 78% of travelers said they never carry an emergency phone number 4

5 iJET.com (C) iJET International, Inc. All rights reserved. Disruptions Impact the Entire Enterprise Driving cost: Lost revenue Mitigation Liability Response/recovery Control and compliance 5

6 iJET.com (C) iJET International, Inc. All rights reserved. Travel Risk Management Program 6 Proactive Plans Practice/Update Around the clock resources Real Time Event Monitoring Mandatory Training Integrated Travel Policies Country Reports Culture Information Local Resources Pre Trip Planning Education & Awareness Crisis Management & Response Plans 24/7/365 Assistance & Monitoring

7 (C) iJET International, Inc. All rights reserved. It’s a dangerous world

8 iJET.com (C) iJET International, Inc. All rights reserved. Due to the unrest in Egpyt, on February 1, 2011 the U.S. Department of State ordered the departure of all non-emergency U.S. government personnel and family members from Egypt. The airports were flooded with more than an estimated 15,000 people trying to leave the country. Flights were cancelled or delayed and some airlines stopped servicing the country altogether. 8

9 iJET.com (C) iJET International, Inc. All rights reserved. Japanese earthquake caused more than 30,000 deaths and temporarily disrupted business throughout the region. 9 Source: various media reports

10 iJET.com (C) iJET International, Inc. All rights reserved. In the aftermath of the 2010 Volcano Eyjafjallajökull eruption, an estimated 60% of corporations affected by this disaster allegedly spent their entire contingency budgets for the year by the beginning of the second quarter 2010. 10 Source: “Survey Sees Need to Better Manage Risk of Global Biz Travelers” by Michael Billing; Travel Market Report (August 30, 2010)

11 iJET.com (C) iJET International, Inc. All rights reserved. 65% of international travelers report a health problem during their trip Of these, 8% will seek medical care while traveling or immediately upon return 11 Source: Global Business Travel Association

12 iJET.com (C) iJET International, Inc. All rights reserved. The New Reality: 12 Global business = Increased exposure to risk

13 iJET.com (C) iJET International, Inc. All rights reserved. Control Costs through Planning Apply the risk management approach to control costs 13

14 iJET.com (C) iJET International, Inc. All rights reserved. Tracking your Employees 14 If an incident occurs, how long would it take to determine how many travelers you have within the area? If an incident occurs, who do your travelers call? Need to consider: Ground transportation Hotel Sojourn trips

15 iJET.com (C) iJET International, Inc. All rights reserved. Your program must: Identify and evaluate the risk Identify your resources Set an acceptable level of risk Develop a plan for mitigating the risk Educate and communicate the plan Monitor and benchmark the results 15


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