Companies’ risk management plans under the spotlight
BTN News
Thursday, 31 March 2016
Some 72 per cent of global travel buyers report that their company has a risk management plan in place, according to a poll conducted by the Global Business Travel Association (GBTA).
In addition, 81 per cent said they found their company’s risk management plan to be effective directly following the terror attacks in Brussels.
“Risk is a part of doing business and in the past year we have seen duty of care rise to the forefront as the number one issue for our members, so it is not surprising to see so many have risk management plans in place,” said Michael McCormick, executive director and coo for GBTA.
“Still, with 28 per cent reporting their company either doesn’t have a risk management plan in place or they are unsure if there is one and 13 per cent who said they found their plans ineffective after the Brussels attacks, there is clearly still work to do. While 80 per cent would normally be seen as a great success rate, when lives are at stake, we need to do better.”
In addition, 90 per cent of travel buyers said their company’s travel within Europe would see no change, or would only be slightly or moderately limited.
“We live in a global economy and even when faced with terror, we cannot live in fear,” McCormick continued. “Businesses still need to do business and people will still need to travel, so it is imperative to plan, prepare and stay informed so that business can make prudent decisions about travel programs.”
Companies’ risk management plans under the spotlight
BTN News
Thursday, 31 March 2016
Some 72 per cent of global travel buyers report that their company has a risk management plan in place, according to a poll conducted by the Global Business Travel Association (GBTA).
In addition, 81 per cent said they found their company’s risk management plan to be effective directly following the terror attacks in Brussels.
“Risk is a part of doing business and in the past year we have seen duty of care rise to the forefront as the number one issue for our members, so it is not surprising to see so many have risk management plans in place,” said Michael McCormick, executive director and coo for GBTA.
“Still, with 28 per cent reporting their company either doesn’t have a risk management plan in place or they are unsure if there is one and 13 per cent who said they found their plans ineffective after the Brussels attacks, there is clearly still work to do. While 80 per cent would normally be seen as a great success rate, when lives are at stake, we need to do better.”
In addition, 90 per cent of travel buyers said their company’s travel within Europe would see no change, or would only be slightly or moderately limited.
“We live in a global economy and even when faced with terror, we cannot live in fear,” McCormick continued. “Businesses still need to do business and people will still need to travel, so it is imperative to plan, prepare and stay informed so that business can make prudent decisions about travel programs.”
