Natural, Man-Made Disasters Prompt MNCs to Formulate Crisis Policies

by CFO Innovation Asia Staff, 09 May 2011

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Management Risk Management

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crisis policies disasters ECA International man-made disasters natural disasters risk managment

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Recent human and natural disasters have caused 60 percent of those without a policy on crisis procedure to now put together a protocol for managing their staff when issues such as those seen in North Africa and the Middle East and Japan occur, finds a survey by ECA International.

Only 51 percent of multinational companies have a formal crisis policy, says the survey.

ECA recently undertook a 'spot' survey of 150 multinational companies – short in length and short in turnaround – to find out what measures companies take to in a crisis, both in terms of practical measures and compensation. Other findings of the survey, which also looked at common practices for managing location allowances under normal circumstances, show that some companies adjust location premia by up to 30 percent when disaster strikes.

MORE ARTICLES ON RISK MANAGEMENT

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