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4 Ways to Improve
Risk Management
If you own a business, chances are there will be some element of risk involved. This risk can take the form of anything from financial to industry-related challenges.
However, when it comes to human resources (HR), the risk is primarily centered around the safety of your employees.
Here are four important ways to identify and eliminate or control risk.
Identify and Assess Risk
01
To deal with a risk, you first need to identify it, then analyze its level of seriousness.
02Understanding standards put in place by government agencies, including the Occupational Safety and Health Administration (OSHA), is a great place to start.
03If you are not comfortable identifying risk on your own, consider working with a professional resource that offers risk management services.
Assign ResponsibilityThe diffusion of responsibility is often the
cause of workplace incidents.
This concept states that when everyone assumes that someone else is responsible for risk, nothing gets done.
You can address this issue by making sure that safety responsibilities are clearly delegated throughout your staff, or assigned to external professional resources.This process can start during hiring and training, and continue throughout future development.
Gather DataGathering data is key in managing risk and
provides the necessary details for professionals to understand how hazards or concerns impact employees.
This data can be used to map out which existing elements of risk need more attention and why, while also preventing new risk.
Make sure you document as much information as possible, as better data leads to betterdecision-making.
Expect the UnexpectedIdentifying and classifying every single risk
would be ideal, but that simply isn't realistic. In the world of risk management, you need to learn to expect the unexpected.
Your plan absolutely needs to take into account the fact that you can't possibly plan to prevent all hazards.
When an accident occurs, because chances are they will be sure to treat impacted employees with care and respect, gather all relevant information and data, and immediately set out to understand and remove the risk.
Contact us!
www.synchronyhr.com
(314) 222-5770
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