Eight Out Of Ten Global Companies Had Effective Risk Management Plans Following Brussels

by Anna Gleksman
Eight Out Of Ten Global Companies Had Effective Risk Management Plans Following Brussels

The skyline of Brussels. Photo: Cayla.

Only 72% of global companies have a risk management plan in place, and of those, just 81% found their plan to be effective after the bombings in Brussels last week, say 300 travel managers from 20 countries surveyed last week by the Global Business Travel Association.

“While 80% would normally be seen as a great success rate, when lives are at stake, we need to do better,” said GBTA COO and executive director Michael W. McCormick. “With 28% reporting their company either doesn’t have a risk management plan in place or they are unsure if there is one, and 13% who found their plans ineffective after the Brussels attacks, there is clearly still work to do.”

“Because every company is so different, it can be difficult to prescribe a blanket approach” to developing a risk-management plan, GBTA vice president of research Jeanne Liu told TMR. But, she noted, “the first step is to get educated, and GBTA has numerous resources on risk management and how to build and implement plans that work for your organization.”

For the travel industry, the good news in the poll is that even after the latest attack 90% of travel managers felt their company’s travel in Europe will not change, or only moderately change. “We live in a global economy and even when faced with terror, we cannot live in fear,” McCormick said. “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 your business can make prudent decisions about its travel program.”

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