As Australia's $167 billion tech industry continues to grow, so does the need for global mobility.
The country’s tech ecosystems are both smart and dynamic, supporting global giants like Meta, Salesforce, and many other tech ‘unicorns’. In Australia, we have much to be proud of, as our capital cities boast impressive tech hubs where universities and governments collaborate with businesses to drive innovation.
With many tech professionals frequently travelling for business, whether to explore new markets, meet clients, or attend conferences, the importance of robust travel risk management has never been more critical. In an industry renowned for its innovation and rapid pace, safeguarding traveling employees is as vital as protecting intellectual property and other assets.
The growing need for travel risk management
Australia’s tech sector contributes significantly to the economy, and international travel plays a key role in maintaining its competitive edge. However, business travel is not without risks. From health threats to geopolitical instability and environmental disasters, the global landscape is unpredictable, presenting a “fragmenting world”.
In 2024, International SOS saw a 14% increase in international travel among technology clients and a 53% rise in monthly alerts issued to businesses, signalling the growing risks associated with global travel. As employees venture across borders, these risks must be carefully managed.
According to KPMG’s "Top 4 Issues Facing Australian Business Leaders in 2024," geopolitical disruptions concern 50% of leaders, while 35% identify cybersecurity risks as a major challenge for the coming years. With international travel becoming increasingly complex, Australian tech companies must ensure their travel risk strategies are up to date to protect their most valuable asset - their people.
Organisations have the duty of care to ensure that employees are safe, informed, and supported throughout their journeys. For tech companies, these risks are particularly pressing as they expand into new markets and manage sensitive data across borders.
With global risks on the rise, travel risk management must go beyond the basics. Companies need to implement strategies that address not only traditional risks like health and safety but also newer concerns such as workforce resilience and permacrises.
Aligning your travel risk management strategy with ISO 31030
An essential step for tech companies is aligning their travel risk strategy with the ISO 31030 standard. Whether you’re overseeing a mobile workforce or planning business travel, understanding ISO 31030 is your passport to peace of mind.
ISO 31030 provides a global framework for managing travel risks, offering best practices for assessing, mitigating, and responding to risks associated with business travel. This standard was developed to help organisations navigate the complexities of modern travel risks.
In an era where organisations face “permacrises”, a constant state of potential disruptions, ISO 31030 serves as a transformative tool for modern risk management. It guides businesses through a structured, step-by-step approach to assessing travel risks and implementing protective measures, ensuring that mobile workforces remain safe and secure.
Why ISO 31030 matters
By aligning with ISO 31030, companies can:
- Improve travel risk assessments by evaluating health, security, and cyber threats.
- Enhance decision-making during crises, empowering leadership, and employees.
- Streamline compliance with global best practices, ensuring that travel policies meet international standards.
- With this framework, tech organisations can adapt their travel risk strategies to meet the demands of an unpredictable world while maintaining business continuity and protecting employee well-being.
Practical steps for implementing ISO 31030
Implementing ISO 31030 doesn’t have to be daunting. At International SOS, we guide organisations through each phase of adoption, helping to:
- Understand the travel environment and set clear risk management goals.
- Identify potential risks and weaknesses in your current travel plans.
- Put in place safeguards like health support, crisis plans, and employee training.
- Continuously check and update your travel risk management process to stay effective.
A well-executed travel risk management strategy goes beyond mitigating threats. It empowers employees to make informed decisions, enhances confidence in handling incidents, and improves organisational resilience. By embracing a culture of safety and compliance, tech companies can also attract and retain top talent, ensuring long-term business success.
With the increase in travel and alerts we’ve seen this year, it’s clear that the risks are evolving - and businesses must evolve with them. By leveraging tools like our benchmarking assessment and aligning with ISO 31030, you can ensure that your organisation is prepared to face these challenges head-on, safeguarding both your people and your business.
With the support of International SOS’s training programs, schools will be well-prepared to implement these new practices, ensuring safer, more enjoyable experiences for everyone involved.