Silicon Staffing - Premier Staffing AgencyEMPLOYER || CANDIDATE

HR Planning

Employer

 

 

Business Risk Management

 

Managing Business Risk

Human Resources Risk: Risk Management Process


 

Risk management is a cycle. That means that it is not something that gets checked off a "to do" list but it is a continuous activity.

 

Having a risk management process means that your organization knows and understands the risks to which you are exposed.

 

It also means that your organization has deliberately evaluated the risks and has strategies in place to remove the risk altogether, reduce the likelihood of the risk happening or minimize harm in the event that something happens. At a very basic level, risk management focuses you on two fundamental questions:

 

  1. What can go wrong?

  2. What will we do to prevent the harm from occurring in the first place and in response to the harm or loss if it actually happens?

 

 

Identify the risks

  •  

  • The very first step is to identify the risks. Ask yourself what can go wrong. Every activity of an organization poses a risk so brainstorm and document the risks.

  •  

  • Consider both the general risks (that could happen to any organization) and the risks specific to your organization.

  • Risks can be:

    • Manage Business Risk
    •  

    •  

    • Abuse that is either one-time or ongoing (physical, emotional, psychosocial, sexual, financial)

    • Personal injury

    • Medical

    • Environmental

    • Property

    • Financial

    • Reputation/goodwill

    • Other


 

 

 

HR Activity


Potential Risk


Potential considerations

Compensation and benefits


  • Financial abuse

  • Who has signing authority?

  • How many signatures are required?

  • Are there checks and balances?



  •  

Hiring


  • Discriminatory practices

  • Hiring unsuitable or unsafe candidates

  • "Wrongful" hiring

  • "Unconsciense Bias"

  • Was a complete screening completed on potential applicants?

  • Were provincial human rights laws observed?

  • Is there a set probationary period?

  • Were promises made to the candidate that cannot be honored?

  • Did the employee sign off on the policies and contract of employment before being hired?



  •  

Occupational Health and Safety


  • Environmental

  • Personal injury or death

  • Do we provide safe working conditions and do we conduct safety checks regularly?

  • Do we provide adequate training for staff?

  • Do we ensure the use of appropriate clothing and safety equipment?

  • Do we have adequate policies, procedures, and committee in place?



  •  

Employee supervision


  • Abuse

  • Reputation in the community

  • Release of personal information

  • Do we provide sufficient orientation and training?

  • Do we provide adequate supervision (especially for activities that occur off-site or after hours)?

  • Do we have a performance management system in place?

  • Are personal information protection guidelines followed?



  •  

Employee conduct


  • Abuse

  • Reputation in the community

  • Do we have clearly written position descriptions for all positions?

  • Do we follow up when the parameters of the job description are not respected?

  • Do we provide thorough orientation and training?

  • Do we provide an employee handbook?

  • Do we have comprehensive policies and procedures?

  • Do we provide ongoing training about our policies and procedures?

  • Do we retain written records of performance issues?

  • Do we ensure that organizational valuables are secure?

  • Do we have cash management procedures?

  • Do we have adequate harassment policies and procedures?



  •  

Exiting employee


  • Property

  • Reputation in the community

  • Compensation

  • Do we retrieve organizational information and equipment that a dismissed employee used (especially from home)?

  • Do we ensure that all access codes, passwords, etc are de-activated?

  • Do we conduct an exit interview?

  • Do we record lieu time and vacation balances?



Assess the risks

Assess business risk

  • If you have done a thorough job of identifying risks, you may end up with a long (and overwhelming) list.

  • The next step is to assess each of the risks based on the (1) likelihood or frequency of the risk occurring and (2) the severity of the consequences.

  • Using a risk map to plot the likelihood of occurrence and the severity of the consequences will help you prioritize your next steps.

 

 

Develop strategies for managing risks

 

  • Consider the most appropriate risk management strategies for each identified risk:

  • Avoidance - Stop providing the service or doing the activity because it is too risky.
    Acceptance - Some risky activities are central to the mission of an organization and an organization will choose to accept the risks.
    Modification - Change the activity to reduce the likelihood of the risk occurring or reduce the severity of the consequences. Policies and procedures are an important part of this risk management strategy because they communicate expectations and define boundaries. Learn more about writing policies and procedures.
    Transfer or sharing - Purchase insurance or transfer the risk to another organization through signing a contractual agreement with other organizations to share the risk (for example, having a contractual agreement with a bus company to transport clients rather than staff driving clients).

 

 

Implement

 

When you have decided which risk management strategies will be the most effective and affordable for your organization, practically outline the steps and who is responsible for each step in the risk management plan. Communicate the plan and ensure that there is buy-in from all who are involved in the organization (staff, volunteers, clients, other relevant stakeholders). Provide training for all organizational staff and volunteers so they understand the rationale of the risk management plan as well as the expectations, procedures, forms, etc.

 

 

Monitor

Hiring Remote Staff

 

 

 

Consider the following questions and document any changes to the plan:

 

  • Is your plan working?

  • Have your risks changed?

  • Have you expanded or reduced your programs and services?

  • Are changes or updates required?

  • Are staff and volunteers following the risk management plan?

  • Do they need re-training on the details?

  • Do we need to better communicate the plan?

 

 

 

 

Virtual Staff Efficiency Report

Drivers of Employee Enagagement

 

Staff Engagement

Tips for Employee Engagement

 

Remoe staff engagement