CapRelo Blog

Develop Policies to Mitigate Risk and Manage Business Travel

Posted by Amy Mergler on Thu, Nov 09, 2017

Back view of businessman at airport with suitcase in hand.jpegIt’s in every company’s best interest to minimize the potential risk associated with business travel. This is best done by developing effective processes to manage business travel and involves the following steps:

  • €Create a dedicated business travel management function. This ensures that the available resources are invested solely in the research, development and management of business travelers.
  • €Create effective policies and processes. For each country, develop policies and processes that govern the various types of business travel and duration of visits. These should be based on up-to-date information about the various visa requirements, tax regulations, payroll issues and privacy policies.
  • €Leverage technology to track employees’ travel data and streamline processes. It’s the employer’s responsibility to ensure that all relevant business travel data is accurately monitored and reported. The wide array of reporting responsibilities makes it challenging to ensure all employee activity is correctly tracked and reported. Fortunately, there are a number of excellent enterprise tools on the market that enable organizations or relocation management companies to automatically track employee travel, as well as evaluate immigration, tax and payroll compliance. Moreover, these tools are constantly updated, which eliminates the possibility of acting on outdated information. By utilizing these automated data tracking solutions and reporting processes, employers can minimize the odds of inaccuracies, omissions or non-compliance issues. It also unburdens employees, who are then free to concentrate on the business at hand.
  • €Integrate the business travel management function into the global mobility program. Develop a range of packages for business travel, each with their own processes, expense budgets and traveler support systems. Include travel eligibility and requirement checklists to minimize complications and make the process as smooth as possible.
  • €Inform managers and employees. Once all necessary policies and processes are in place, develop training sessions to inform managers and traveling employees about the new program and the various packages. Create a business travel information center where managers and employees can look up current information about destinations.

Download Our Guide to Managing Business Travelers

Topics: business travlers, policy development

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