HR & Risk Management: What You Need To Know
Don’t think risk management is essential for HR?
If you currently don’t have your HR outsourcing provider managing the potential risks to your company, this post is your wake up call.
When it comes to your human resources, you likely only think of payroll, employee recruitment, and benefits packages. But this view overlooks one of the most important functions of HR: risk management.
What is risk management?
As the name implies, risk management is the act of identifying potential threats and problems to the overall health of your business before they occur and outlining ways that these risks can be mitigated.
How do HR firms provide risk management?
There are two major ways that HR consultants can help you understand the risks that are facing your business and craft a plan to overcome them. The first is by helping you identify risks that are directly the result of people. The second is how to train your staff to help minimize those risks.
- Human-caused risk: There are a number of ways other people can open you up to risk. Carelessness, absenteeism, presenteeism or refusal to rise to the changing requirements of a position could all have a catastrophic negative impact on your business.
HR firms that offer risk management and workplace safety services will be able to identify employees who are more likely to cause such problems and develop mechanisms and strategies for understanding the root of the problem and deciding on the best course of action to address the issue. After all, it would be imprudent to apply the same strategy when dealing with an employee whose work is suffering as the result of a traumatic life experience like cancer or divorce as you would with an employee who is simply uninterested in contributing.
- Human solutions to risk: It is important that your team understand how to address and adapt to the risks that they face. With careful risk assessment, you have the ability to train your staff to be the very best weapon you have for preventing dangerous or damaging situations. Encouraging creative problem-solving/collaboration and creating a positive environment is essential here, and programs like employee recognition can help. (Here’s the proof: 86% of companies with such programs have employees who reported being happier since the program was initiated.)
- Risk management is an important part of how your company sees human resources. By carefully examining the ways your company might be affected by risk, an experienced HR firm can help you transform your staff into a strong first line of defense so that you and your business are better protected.
Protect both your employees and your business with G&A Partners.
G&A Partners’ team of highly trained risk management and workplace safety professionals can help you design and administer a safety program that not only ensures your company is compliant with all federal, state and local labor laws, but also provides you with the training, resources and support you need to make sound decisions that ensure your employees, and your business, are protected.