Whenever your staff undertake a project or implement new working processes, they will be putting themselves at some kind of risk. Sometimes these are physical accidents, but they may also be less visible, such as bullying, stress or anxiety.
Today, the risks employees face are greater and even more varied with a global pandemic to consider. However, implementing effective risk strategies can help you keep your team safe and your business compliant. Here are some of the top four to consider.
1. Risk avoidance
The most conservative approach, simply avoiding undertaking or implementing high-risk work or processes will mean you don’t have to manage negative outcomes. This is best utilised in high-risk, urgent situations, such as by leaving a site, not using faulty equipment or rejecting new procedures that make staff vulnerable to anxiety-inducing situations. Other instances of implementing risk avoidance are testing and designing out risks, particularly in manufacturing or process implementation.
2. Risk acceptance
A continuation of the above, risk acceptance is when you have taken every possible measure to identify and reduce risk, but still decide to go ahead knowing there is a sufficiently minimal threat to staff wellbeing. The key here is ensuring that all staff know the potential risks and how to report situations easily.
3. Risk reduction
By implementing a control method or risk reduction strategy, you are actively monitoring and managing the risks of a project or procedure. Tools can help you prioritise risks and their likelihood of occurring so that the gravity can be reduced. Part of this method is risk control to adequately flag up negative outcomes or issues that may contribute to a negative outcome. These can be warning systems, carrying out routine checks or having contingency built into scheduling, staffing, budgets, or supply chains, for instance.
4. Transference of risk
If you have measured the risks present in your business as far as possible but cannot fully accept responsibility due to third-party involvement or time or budgetary constraints, you may be able to transfer the risk to another party. However, this needs to be considered carefully so as to reduce potential damage to your reputation in the event of failure. All parties should be in explicit agreement and the terms should be written into contracts, such as who is responsible for not just immediate damage and reparations, but for knock-on effects such as end-user revenue loss. Transference of risk is usually seen in instances of taking out insurance cover, contracting out jobs or services, or in contracts with suppliers.
No job is without risk, and to protect your staff and business you need to actively monitor and assess the risks in your processes and keep records of prevention or control measures. Zecure is an easy to use personal safety app for businesses who want to manage the risks in their workplace. Start your free trial today.