Overview: 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 and risk management, an employer should be able to recognize all risks, both good and bad. Then, the employer must evaluate how likely these risks will come to fruition and how they may affect the workplace. The employer must also decide what can and should be done to mitigate or cultivate those risks.
According to FEMA, almost 40 percent of workplaces that 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 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. An employer that is practicing good business risk management will make sure that it is insured in all the areas that might realistically apply.
Trends: Among the many concerns that employers should take into account when performing a risk assessment is the likelihood of violence in the workplace. An employer may want to provide its employees with training in the event of an active shooter.
Author: Melissa Gonzalez Boyce, JD, Legal Editor
Updated to reflect Maryland preemption law regarding sick and safe leave, effective February 11, 2018.
Revised to reflect the comprehensiveness of topics relating to OSHA and workplace safety.
Updated to reflect forthcoming law regarding employee inventions.
The workplace is changing at a rapid rate and a host of recent developments affecting the legal landscape are creating considerable obstacles for employers. So what are the most challenging HR compliance issues to get ready for in 2018?
Under review in relation to recent NLRB legal developments; revised statement to ensure that the provisions do not conflict with an employer’s arbitration program.
Under review in relation to recent NLRB legal developments; revised statement and guidance to ensure that the provisions do not conflict with an employer’s arbitration program and to address the Defend Trade Secrets Act.
Updated to include retaliation protections in the domestic violence leave law, effective January 1, 2018.
Updated to include amendments to laws related to firearms in the workplace, effective November 1, 2017.
Updated guidance to reflect development relating to an employer's liability and weapons in the workplace, effective November 1, 2017.
HR and legal considerations when creating and implementing risk management plans. Advice on eliminating bad risks and optimizing good risks.