The Importance of Human Resources Risk Management


What is Human Resource Risk Management?

                                                                    

                                                                            Figure 1: HR Risk Management.

Human resource risk management analyzes possible employee-related risks to the organization so that problems can be avoided before they occur. If an organization guarantees that all of its employees are happy at work, it will be protected against potential problems (Jotform, 2022).

Why is HR Risk Management Important?

HR risk management plays a critical role in keeping the organization and its employees satisfied and focused on the company's goals. Therefore controlling risks related to compliance, the hiring process, and employee growth is critical to organizational success (pecb, 2021). 

HR managers should be aware of the following risks (Jotform, 2022).

⦁ Violation of software security and disclosure of confidential employee information.

⦁ Background or reference checks for new hires are missing or incomplete.

⦁ Employee injuries as a result of a lack of training or education.

⦁ Employees feel unable to speak openly about potential workplace problems. 

⦁ Employees that are paid less than their colleagues.

Risk-reduction strategies for the workplace

1. Creating a recruitment and hiring strategy.

Hiring new staff in a hurry can lead to issues later on. Therefore it is ideal to plan ahead of time for employment needs which allows organizations to thoroughly examine all candidates (Jotform, 2022). 

2. Learn about government and industry compliance regulations.

Labor laws, workplace safety requirements, privacy legislation, and industry standards should all be considered. Ensure that your company's policies are compliant with these rules (Jotform, 2022).

3. Following the most recent legal guidelines.

It's critical to keep updated on legal employment problems, particularly when it comes to family leave and medical leave (Jotform, 2022).

4. Providing onboarding and training.

Develop a complete program to train new employees at all levels to work efficiently and safely at the organization. Must ensure that all onboarding and training requirements are met by all employees (Jotform, 2022).

5. Creating a friendly environment.

Establish an environment that supports employees to seek assistance. Those dealing with professional or personal challenges will be aware of the options available to them, and they will not feel neglected or alone. This can help to relieve any discontent with the management (Jotform, 2022).

                                                            

                          Video 1:HR Risk Management(GreggU, 2018).

Conclusion

HR risk management focuses on continuously monitoring the work of all employees, in order to quickly identify, evaluate, reduce, and prevent risks which in turn contribute to the overall performance of organizations.


References

Jotform, 2022. Jotform. [Online] 

Available at: https://www.jotform.com/blog/human-resource-risk-management/#:~:text=Human%20resource%20risk%20management%20identifies,the%20organization%20against%20possible%20issues.

[Accessed 2 May 2022].

pecb, 2021. pecb. [Online] 

Available at: https://pecb.com/article/the-importance-of-hr-risk-management

[Accessed 01 May 2022].

GreggU, 2018. GreggU. [Online]
Available at: https://youtu.be/JTVR6tCwL9M
[Accessed 02 May 2022].


Comments

  1. Dilini MBAMay 2, 2022 at 2:26 AM

    As explained in this article, HR managers play a main role in the development of employees and maintaining employee welfare. This article clearly discusses the main duties and responsibilities. HR managers should ensure that their duties are very transparent and fair by all employees. Important article.

    ReplyDelete
  2. Venushka BandaranayakeMay 2, 2022 at 8:35 AM

    Employees like to work in a risk-free environment and that makes them productive as well as efficient. Therefore HR should focus on Risk Management in order to provide a safe working environment for the staff. Good Luck,

    ReplyDelete
  3. Niluke SirimannaMay 4, 2022 at 12:58 AM

    Risk management's objective isn't to eliminate all risks. Its goal is to reduce the danger of negative consequences. Risk managers can assist staff in completing their projects successfully. Data and analytics from risk management can assist employees make smart strategic decisions that will help the organization meet and exceed its goals. good article

    ReplyDelete
  4. Amjad AboobakarMay 6, 2022 at 12:56 PM

    Risk management can minimize the risk, Like the organization focusing on managing the risks that are mentioned above, they also must focus on disseminating the risk of data breach and non compliance to GOVT regulations by proper training. Good article.

    ReplyDelete
  5. AjmalMay 7, 2022 at 11:58 PM

    Human Risk Management is the new class of user-focused security that empowers businesses to understand, reduce and monitor their employee cyber risk. Important information

    ReplyDelete
  6. Beyond the limits....May 8, 2022 at 6:19 AM

    Human resource risk management identifies potential employee-related risks to your business so you can minimize any problems before they arise. If a business ensures all employees are satisfied in the workplace, this will protect the organization against possible issues.

    ReplyDelete
  7. HasithaMay 8, 2022 at 7:07 AM

    HR risk management is vital topic you have properly raised with a good structure. We have to see the importance of the fact thoroughly.
    All the beat !!!

    ReplyDelete

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