human resources – Page 7 – Risk Management 365

Managing Human Capital Risk

Human resource risk is the chance that bad outcomes will occur in some aspect of HR. Those risks get attention when the bad outcomes threaten the overall organization and its goals. Then it becomes a business risk.

Employee turnover, an example of one type of HR risk, becomes a business risk when it could threaten the viability of the business. Business risk matters because it has the attention of everyone at the top of the organization.

Among important human resource risks that affect business outcomes are class-action litigation and other compliance and regulatory issues, the loss of key employees and critical knowledge, talent-management gaps that make it difficult to get employees with needed skills, and individual employee behaviors that create liability issues (e.g., imprudent investment decisions or ethical scandals that damage brand value).

Interestingly, the most important risk associated with human capital in a survey of HR and risk managers that was conducted as part of the study was a “shortage of critical skills within your company’s workforce.”

via Human Resource Executive Online | Managing Human Capital Risk.

The Generation Gap – How To Motivate The Baby Boomers

The Baby Boomers

General Attitude: “If you have it, flash it”
Characteristics: Talkative, Bossy, Inquisitive, Stylish, and Competitive.
Likes: Shopping, Winning, Leading, Vision.
Dislikes: Paying of debts, Aging

Some famous Boomers include Bill Clinton. Tony Blair, George W Bush, Princess Diana, Vladimir Putin, Richard Branson and J.K. Rowling.

The baby boomers got their name from the big growth in population just after World War II. They were the largest generation (in terms of numbers) that the planet ever saw.

They arrived with a bang and have been noisy and attention demanding ever since. Every single stage of their lives has been era defining and trend setting.

When they decide to do something, they do it big. Nobody can afford not to notice them. Both literally and figuratively.

You are very likely to find many Baby Boomers still in your workforce. The first ones just entered retirement a few years ago.

This generation entered the working environment in a time that coincided with a steady economic boom, which took the whole world by storm.

When they finished university or college, there was no shortage of jobs.

Big changes started to happen in their time, which made their working environment very different from their parents.

Multinational companies were starting to become more common and rapid growth was considered the norm. This was fueled by three drivers. Quality, customer service and globalization.

Tips for Motivating The Boomers

Make rewards and recognition public
They will rely on you to generate energy and dynamism.
They want to be involved in all decisions. They are passionate about transparency and democracy in decision making. Include them at all stages.

via The Generation Gap. How To Motivate Different Generations.

Driving Organizational Success Through Human Capital

In today’s globally integrated, tightly regulated, and increasingly competitive business environment, one critical success factor stands out: people. Your people represent one of your company’s most significant investments, and they provide you with a big opportunity to gain competitive advantage.

via Human Capital – Ernst & Young – United States.

Roles of HR Professionals in Risk Management

The “people” risk in business is significant and role of HR Professionals to manage this risk varies by organization. The challenge is that risk area’s and responsibilities are often very siloed. The key is risk management should be an integrated effort, with executive level support, that enhances the strategic goals and growth of the organization. HR professionals role is to participate in risk management by assessing risk and creating HR policies to prevent or mitigate loss and ensure business continuity.

What Triggers Behavior Change?

BJ Fogg founder of the Persuasive Technology Lab at Stanford University designed a behavior model to serve as a guide to identify what stops people from performing desirable behaviors. The Fogg Behavior Model shows that three elements must converge at the same moment for a behavior to occur:

Motivation
Ability
Trigger

When a behavior does not occur, at least one of those three elements is missing.

When designing health and safety processes it’s important to include all three elements to drive desired behavior change. To be successful you need participation, education and encouragement built into the process.

via BJ Fogg’s Behavior Model.

Workplace Health Programs Increase Productivity

Workplace health programs can increase productivity

In general, healthier employees are more productive.

Healthier employees are less likely to call in sick or use vacation time due to illness
Companies that support workplace health have a greater percentage of employees at work every day
Because employee health frequently carries over into better health behavior that impact both the employee and their family (such as nutritious meals cooked at home or increased physical activity with the family), employees may miss less work caring for ill family members as well
Similarly, workplace health programs can reduce presenteeism — the measurable extent to which health symptoms, conditions, and diseases adversely affect the work productivity of individuals who choose to remain at work

The cost savings of providing a workplace health program can be measured against absenteeism among employees, reduced overtime to cover absent employees, and costs to train replacement employees.

via CDC – Workplace Health – Business Case – Benefits of Health Program – Increase Productivity.

What’s Next After Lean?

Definition of Lean:

Doing more with less by employing “lean thinking.” Lean manufacturing involves never ending efforts to eliminate or reduce ‘muda” (Japanese for waste or any activity that consumes resources without adding value) in design, manufacturing, distribution, and customer service processes.

So what’s “beyond lean” or the “next lean”. I have found that applying “lean” thinking to employee health and productivity eliminates waste in the cost of health care, work comp, absenteeism and presenteeism (at work but not productive). To be successful you need a process or road map. The process is the five steps of risk management. They are:

Identify Risk
Analyze Data
Control Risk
Finance Risk
Measure Results

Don’t make the mistake of thinking insurance is risk management. Insurance is not risk management; in fact it is the 4th step of the process. Skipping (or poor execution of) the first 3 steps leads the waste (higher cost) and poor results in step 5.

Payroll, Benefits and Work Comp are typically the highest cost a business has yet in many cases this area is often overlooked for waste.

The Role of HR in Risk Management

Human resources have two roles in risk management.

First, people are a source of risk, e.g., shortage of employees, people doing sloppy work, an employee refusing to take on additional responsibility, or a key employee leaving two months after completion of a one-year training program.

Second, people are important in handling risk, e.g., people using their ingenuity to solve unexpected problems, employees going the extra mile for the good of the organization, a key employee redesigning her own job to avoid unnecessary delays in getting work done, or an employee persuading a talented friend to apply for a position in the business.

via The Role of Human Resource Management in Risk Management – eXtension.

How can workplace violence hazards be reduced?

In most workplaces where risk factors can be identified, the risk of assault can be prevented or minimized if employers take appropriate precautions. One of the best protections employers can offer their workers is to establish a zero-tolerance policy toward workplace violence. This policy should cover all workers, patients, clients, visitors, contractors, and anyone else who may come in contact with company personnel.

By assessing their worksites, employers can identify methods for reducing the likelihood of incidents occurring. OSHA believes that a well written and implemented Workplace Violence Prevention Program, combined with engineering controls, administrative controls and training can reduce the incidence of workplace violence in both the private sector and Federal workplaces.

This can be a separate workplace violence prevention program or can be incorporated into an injury and illness prevention program, employee handbook, or manual of standard operating procedures. It is critical to ensure that all workers know the policy and understand that all claims of workplace violence will be investigated and remedied promptly. In addition, OSHA encourages employers to develop additional methods as necessary to protect employees in high risk industries.

via Safety and Health Topics | Workplace Violence.

Worksite Wellness – Sustainability

Quality Work and Quality Living

A positive wellness culture in the workplace contributes to the physical, mental, and emotional well-being of workers. The workplace becomes more productive and constructive when employers integrate breaks for rejuvenation. It also helps to establish clear and reasonable roles and responsibilities and respect the time and talents of individuals and their non-work demands. These steps provide the organization with more opportunity to reduce the number of sick days and health-associated costs. Are you working to make your office a healthy place for yourself and your colleagues?

Worksite Wellness at a Glance

Helps employees take responsibility for lifestyle choices
Educates workforce about hazards and opportunities for wellness
Enhances employee productivity
Reduces absences and idleness
Reduces health care costs
Shifts health care paradigm from treatment to prevention

For Employers

Establish programs for exercise during the workday
Implement a no-smoking policy and provide resources for tobacco cessation
Allow flexible work schedules and telecommuting
Encourage personnel to take the stairs
Select worksites close to public transportation, walking trails, fitness facilities, and other amenities

via CDC – Worksite Wellness – Sustainability.