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

  • Two Major Data Breaches Affect More than 20 Million People

    Date:
    21 July 2015
    Type:
    News

    Major, recent breaches at the Office of Personnel Management (OPM) and UCLA Health serve as examples of why an employer should ensure to the best of its ability that it has taken adequate security measures to protect its customers' and employees' personal information.

  • Multistate Employer: Federal

    Type:
    Employment Law Manual

    This section helps HR professionals manage challenges that come with operating in multiple states, notably complying with differing state and key municipal laws, and addresses the pros and cons of having a centralized or decentralized HR department. Trends currently affecting multistate employers are identified, such as same-sex marriage laws and tracking various state leave laws, are discussed.

  • Workers' Compensation: Minnesota

    Type:
    Employment Law Manual

    In-depth review of the spectrum of Minnesota employment law requirements HR must follow with respect to workers' compensation.

  • Employee Discipline: South Carolina

    Type:
    Employment Law Manual

    In-depth review of the spectrum of South Carolina employment law requirements HR must follow with respect to employee discipline.

  • Workers' Compensation: Montana

    Type:
    Employment Law Manual

    In-depth review of the spectrum of Montana employment law requirements HR must follow with respect to workers' compensation.

  • Workers' Compensation: Georgia

    Type:
    Employment Law Manual

    In-depth review of the spectrum of Georgia employment law requirements HR must follow with respect to workers' compensation.

  • Weapons in the Workplace Handbook Statement: Tennessee

    Type:
    Employee Handbooks

    Tennessee 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 show their compliance with Tennessee law should consider including this model policy statement in their handbook.

  • Employee Discipline: Colorado

    Type:
    Employment Law Manual

    In-depth review of the spectrum of Colorado employment law requirements HR must follow with respect to employee discipline.

  • Weapons in the Workplace Handbook Statement: Texas

    Type:
    Employee Handbooks

    Texas employers seeking to prohibit weapons in the workplace, prevent workplace violence, provide notice that concealed weapons will not be permitted in the workplace and show their compliance with Texas law should consider including this model policy statement in their handbook.

  • FAQs on Wearable Technology in the Workplace Added

    Date:
    05 May 2015
    Type:
    Editor's Choice

    FAQs have been added to employers in managing the emerging area of wearable technology in the workplace

About this topic

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