At a glance
- Zurich infographic details the risk scenarios around the upcoming Brazil football tournament for UK businesses
- Despite the risks, the tournament in Brazil is likely to be a major opportunity for many UK businesses
- A robust risk management plan can help businesses prepare for tournament
Sports fans are in for a treat as the world’s greatest footballing spectacle heads to Brazil over the next month. However, for companies back in the UK, as well as executives heading out to Brazil to mix business with pleasure, the 32-day tournament could pose added business risks.
“The international tournament can be seen as both an opportunity and risk for businesses,” said Philip Coley, Senior Strategic Risk Consultant at Zurich.
In light of this, Zurich has produced an infographic that details some scenarios that could unfold, which illustrate the risks to businesses posed by the global football tournament, as well as illuminating stats on the event.
These perils could involve employers’ liability risks around employees turning up to work tired and hungover during the tournament due to the late kick-offs, or not at all if employees win big on the outcome of the tournament. This makes contingency planning and key man dependency cover essential.
Then there are potential supply chain issues for businesses to contend with, as well as ‘slips and trips’ if a corporate business were to host a football-themed event for its key customers.
Businesses should be prepared for the tournament. It is about recognising the risks in advance and having a Plan B in place should things go wrong
Philip Coley, Senior Strategic Risk Consultant at Zurich
In addition, there are travel risks to be aware of if employees head out to Brazil on a business trip.
Plan of attack
“Businesses should be prepared for the tournament,” said Philip “It is about recognising the risks in advance and having a Plan B in place should things go wrong.
“But businesses should perhaps exhibit some form of leniency towards employees during the tournament, as long as it doesn’t adversely affect productivity.
“With many of the games kicking off in the evenings in the UK, it is likely to have more of an impact on shift workers who will want to watch the matches whilst working. But, as the infographic states, employees could also come in fatigued the day after staying up late to watch the tournament.”