Risk Management Plans - Workplace Risk Management Guidance

Editor's Note: Manage risks to minimize problems.

Ashley ShawOverview: Not all risks are bad. For example, buying another company has many inherent risks, but the reward might be worth the risk. When it comes to risk analysis, risk management plans should be able to recognize all risks, both good and bad. Then, the next step in the risk assessment process should be to decide how likely the event will be to affect the workplace and decide what should be done to mitigate or cultivate those risks, formulating the plan in a risk management policy.

According to FEMA, almost 40 percent of workplaces that have to close because of an emergency never open again, with 25 percent of the rest closing within a year. To counteract this, employers should have a business continuity and risk management plan to ensure that important business functions, such as payroll, are able to continuously be run even when the building itself is closed. To keep employees safe, employers should also have specific emergency plans for any workplace disaster, whether manmade or natural, that has a realistic possibility of happening in the workplace.

There are numerous types of insurance to benefit businesses, from ransom insurance to general liability insurance, and an employer who is practicing good business risk management will also make sure that they are insured in all the areas that might realistically affect them.

Trends: Among the many concerns that employers should take into account when performing a risk assessment is the likelihood of violence in the workplace, and within this topic fall gun laws. Knowing state gun laws, including a recent increase in laws allowing employees to keep guns in their locked cars even on employer property, and planning accordingly will help protect the workplace from shootings.

Author: Ashley Shaw, JD, Legal Editor

Latest items in Risk Management

  • Sony Faces Data Breach Class Actions

    Date:
    19 December 2014
    Type:
    News

    Sony Pictures Entertainment, Inc. became the subject of three proposed class action lawsuits this week. All three employee lawsuits relate to a breach of the corporation's computer systems related to the unreleased film, The Interview.

  • Weapons in the Workplace Handbook Statement: Kentucky

    Type:
    Employee Handbooks

    Kentucky employers wishing to limit or prohibit weapons in the workplace, prevent workplace violence, provide notice that weapons will not be permitted inside the workplace and show their compliance with the Kentucky law that gives employees the right to keep a lawfully possessed firearm inside a personal vehicle in a company parking lot should consider including this model policy statement in their handbook.

  • Weapons in the Workplace Handbook Statement: Nebraska

    Type:
    Employee Handbooks

    Nebraska employers seeking to limit or prohibit weapons in the workplace, prevent workplace violence, provide notice that weapons will not be permitted inside the workplace and to show their compliance with the Nebraska law that gives employees the right to keep a lawfully possessed firearm inside a locked personal vehicle in a company parking lot that is open to the public should consider including this model policy statement in their handbook.

  • California Emergency Phone Numbers Poster

    Type:
    Policies and Documents

    As mandated by Cal/OSHA, all California employers must post the California Emergency Phone Numbers Poster.

  • Weapons in the Workplace Handbook Statement: Kansas

    Type:
    Employee Handbooks

    Kansas employers seeking to limit or prohibit weapons in the workplace, prevent workplace violence, provide notice that weapons will not be permitted inside the workplace and to show their compliance with the Kansas law that gives employees the right to keep a lawfully possessed firearm inside a locked personal vehicle in a company parking lot should consider including this model policy statement in their handbook.

  • Electronic Monitoring Handbook Statement: Delaware

    Type:
    Employee Handbooks

    Delaware employers that monitor employee emails, internet access and/or telephone calls should consider including this model policy statement in their handbook.

  • Acknowledgement and Consent to Electronic Monitoring Handbook Statement: Delaware

    Type:
    Employee Handbooks

    Delaware employers seeking to satisfy a legal requirement that employees be informed in advance about an employer's monitoring of company telephones, emails, internet and other electronic resources and sign an acknowledgment verifying receipt of the company's electronic monitoring policy should consider including this model acknowledgment in their handbook.

  • Weapons in the Workplace Handbook Statement: Indiana

    Type:
    Employee Handbooks

    Indiana employers seeking to prevent workplace violence, provide notice that weapons will not be permitted inside the workplace and show their compliance with the Indiana law that gives employees the right to keep a lawfully possessed firearm inside a locked personal vehicle in a company parking lot should consider including this model policy statement in their handbook.

  • Retail Employee Theft Leads to Billions in Annual Losses

    Date:
    25 November 2014
    Type:
    News

    Retail employers witness a growth in employee theft during the holiday season as employees' financial pressures increase and temporary employees, who have less to lose if caught, make up a large part of the workforce. Employers should be aware of this growing trend and take steps to eliminate it from their workplaces.

  • Cell Phone Use / Texting While Driving Handbook Statement: Iowa

    Type:
    Employee Handbooks

    Iowa employers seeking to show their compliance with Iowa law, to promote driving safety and to limit liability from accidents involving employees who are driving and using electronic devices for work-related purposes or in a company-owned vehicle should consider including this model policy statement in their handbook.

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HR and legal considerations when creating and implementing risk management plans. Advice on eliminating bad risks and optimizing good risks.