Safe and efficient business travel is the lifeblood of any successful corporate travel program and the companies that rely on it to thrive. Make your company’s travel program more dynamic and goal-oriented by adding corporate travel risk management (TRM) services. With comprehensive TRM, employees can confidently pursue opportunities wherever they arise across the globe with help from a travel program designed for traveler well-being and success.
What is Travel Risk Management?
Travel risk management (TRM) is a holistic system of travel management and risk reduction designed to integrate strategic emergency and efficiency contingencies into corporate travel programs. Incorporate the knowledge of experienced travel advisors, leverage advanced travel data, and promote travel safety best practices at the policy level with TRM.
Unpredictable and high-risk travel conditions can range from widespread events such as social and political unrest and natural disasters to personal crises such as health and family emergencies. When employees know their travel program has their back, they carry the resulting peace of mind into every business situation.
What is Duty of Care?
Duty of care refers to the responsibility of a company and its travel managers to promote the safety and success of their employees when traveling for business. TTT’s digital duty of care platform enables monitoring of a traveler’s status as well as the potentially risky conditions they face with sophisticated travel restriction monitoring, risk alerts, and heightened risk warnings.
Why a Travel Risk Management Program?
For travel programs of any budget or structure, from regional businesses fighting for market share to Fortune 500 companies working to maintain success across continents, there are clear economic and human benefits to TRM. With enhanced safety protocols and powerful risk management analysis tools, large and growing travel management programs can gain the predictability and continuity they need to succeed.
Any travel program can benefit from proactive assessment and risk mitigation designed for a range of fluctuating travel conditions for travel that’s safer and more streamlined, especially when the unexpected occurs. Leverage the knowledge of experienced travel management professionals and up-to-the-minute insights delivered to the palm of your hand by the latest digital travel tools.
Just as one-size-fits-all solutions don’t fit your business travel program’s individual needs and goals, the benefits of TRM can depend on the risks your program is exposed to. These can include regions of the world most impacted by global pandemics as well as generational weather events.
How does TRM Benefit Travelers?
Travelers are likely to see immediate benefits from TRM through a more comprehensive and precise system of travel that brings more continuity and predictability. No matter where they go, travelers and travel managers can rest assured they have access to the most recent reliable information as well as the logistical support needed to make sound travel decisions.
How does TRM Benefit Travel Managers?
An organization’s travel managers often wear many hats, with the day-to-day operations of a company’s travel program often constituting one responsibility among many. And that’s when everything is running smoothly. Unexpected small and large-scale travel disruptions can quickly push the economic health of your travel program off course, swallowing already thin margins, on top of putting employee well-being at risk. Building a responsive and resilient travel program takes foresight and adaptability by managers who have the tools to efficiently track and monitor complex travel landscapes.
How does TRM Benefit Companies?
Growing travel programs are subject to a variety of risks, and can expose a company to reputational harm when duty of care is not satisfactorily met. According to some interpretations of OSHA regulations, US law requires that businesses take steps to protect employees in the workplace, even if that workplace is overseas.
It is also in your business’s best interest to attract and retain the best talent, and the protection and comfort offered by a travel program enhanced with TRM acts as an attractive fringe benefit.
Together, The Travel Team’s tools and expertise provide coordinated end-to-end travel program management services including risk monitoring, expense management, travel planning, and online booking support.