Do all businesses have some level of risk?
Unfortunately, even business with two employees have some level of risk. No business escapes the impact of people, so risk must always be a topic of focus.
How does risk management relate to Human Resources?
So many of the specific activities HR performs focus on risk management, even if it’s not directly stated: job analysis, writing job descriptions, handbooks, hiring, orientation, training, employer/employee interactions, performance appraisal, compensation, and discipline. The HR discipline strives to focus on minimizing the negative people impacts within an organization to the employer and even the employees themselves.
How is the practice of risk management changing in our current society?
In our relatively new information age, policies and practices must be implemented to reduce the occurrence of data breaches, cyber terrorism, and online bullying and harassment. Companies now have a presence on social media platforms that need to be monitored as an organization’s online reputation now is as important at the traditional “word of mouth” kind.
What HR functions fall under risk management with a breakdown of potential risk components?