Safely Manage Risk

Risk is a critical concern for every organization. It is important for leaders to recognize risk management as a foundation of operational success and implement strategies to address risk proactively. 

Risks associated with employee well-being are often attributed to the lack of a strong safety culture, and therefore a workplace safety program should be an integral component of your overall approach to risk management.

According to the National Safety Council, businesses spend $140 billion annually on costs associated with occupational injuries and illnesses, which are expenditures that come straight out of corporate profits. Workplaces that have established safety and security programs can reduce their injury and illness costs by 15-35%. Your organization can begin to safely manage risk by implementing the following:
 

1. Communication – Leaders create a safety culture when they engage employees, communicate their safety vision and model safe practices. It’s important to make the time to communicate your safety commitment through regular meetings, written communications and safety events. Open communication between leadership and employees supports expectations, engagement and motivation—all essential to a safe workplace.

2. Hazard Management – Hazard identification is a key part of any injury and illness prevention program. If hazards aren't identified, then they can't be mitigated properly. Review workplace records of accidents, injuries, illnesses and near misses to recognize trends. Request employee feedback on issues impacting their workspace, and then take proactive measures to correct these hazards.

3. Employee Engagement – Without active participation by all members of an organization, a safety program will not reach its full potential. Employees feel valued when their ideas and suggestions are taken seriously, and will better support safety policies, processes and programs when they are involved in forming them. 

Risk will always be present in the workplace, but employers and employees can work together to help reduce it.

  About the Author 
  Jeffrey M. Quinn, ARM, is Director of Risk Management at Allied Universal.