Third white paper in Incentives Move Business series
Incentive planners face a wide array of potential risks in incentive travel and motivational events. These risks may include weather or natural disasters, government or labour unrest, transportation disruption, medical emergencies, acts of terrorism or violence, among others. When motivational events are impacted by these challenges, the effects can vary greatly and the frequent reaction is to resort to legal action. As a result, mitigating risk is a vital consideration that should be addressed early in the program planning stage.
The Site International Foundation has released its latest white paper, Risk Assessment/Management for Incentive Events, third in the Incentives Move Business series, to provide a process for incentive practitioners to use to develop a plan to manage or mitigate risk.
“The white paper emphasizes that managing risk is important to all members of the supply chain, and is a key differentiator app lied by customers when selecting suppliers,” stated Site International Foundation President Jane Schuldt, CITE, CIS. “Ensuring that proper risk assessment has been performed and appropriate risk management plans have been put in place at all levels is a new fact of life, and makes sense.”
Risk management is an especially important consideration for destination-centered suppliers, particularly for the inevitable natural or man-made disaster. Some companies are budgeting for at least one disaster every decade, which may not be enough. Planners also must assess the risks involved in the activities that are included in a program. On a practical level, evaluating risk and planning how to manage it frequently plays a major role in whether a program is acceptable to a client’s legal department. So, suppliers who proactively plan for and address this challenge have a keen advantage in their service offering.
To download Risk Assessment/Management of Incentive Events and the other shite papers in the Incentives Move Business series, please visit siteglobal.com.
The Site International Foundation would like to thank the following sponsors for their generous support of this white paper: Bishop-McCann, InterContinental Hotels Group (IHG) and Spectra.