Risk Management

Risk assessment and management should be at the heart of your strategic approach to wellbeing and performance.

Have you considered the risks of getting it wrong?

A failure to understand and mitigate your risks can result in you and your organisation have to deal with any or all of the following;

  • Legal Challenges due to a failure to follow the laws relating to wellbeing, harassment and equality
  • Financial Penalties, either directly or as a consequence of lost productivity and performance
  • Reputational Damage; no one gives of their best to an employer who doesn’t care. Yes they will work and follow orders, but they won’t go the extra mile and willingly perform over and above

How to approach Risk Assessment and Management

Our suggested approach to Wellbeing risk assessment is to follow the risk assessment approach endorsed by the Health & Safety Executive (HSE), which identifies the following five stages;

  1. Establish – Create a Risk Matrix against which you can reliably measure the Impact and Likelihood of risks
  2. Hazards – Identify the hazards (the things that may cause or lead to excessive pressure or demand on someone)
  3. People – Decide who might be harmed (the people at risk)
  4. Assess – Assess the risk by determining how likely the impact is to occur and how severe the impact may be
  5. Identify – Develop the controls needed to lower risks to meet your tolerance levels
  6. Recording – Record the findings and establish the action plan to  eliminate or reduce the impact on wellbeing
  7. Review – Review the assessment to ascertain the effectiveness of the actions and revise where appropriate

Wellbeing and health in organisations is frequently subject to change, therefore regular reviews of the assessment and recording of any changes are key to its success.

The following ‘hazards’ have the potential to adversely affect wellbeing; So getting them right has a positive impact on organisational performance;

  • Demands of the job
  • The level of Control (or lack of) that an individual has over their work and environment
  • Support provided to the employee by the organisation
  • Relationships within the workplace between colleagues, managers and other services
  • Understanding of the individual’s Role within the organisation
  • The impact of Change