Implementing Risk Management Strategies

Implementing Risk Management Strategies

Risk management is an understanding of the potential for loss and implementing strategies to control hazards and exposures resulting in loss and transfer risk where possible. This requires a consistent application of the concepts required to minimize loss and can be applied to a staffing agency where liabilities run high, especially pertaining to employment practices. One way to mitigate these concerns is by having an adequate amount of staff insurance.

A company’s main focus should be on safety and risk management with an aim towards protecting their employees while offering the highest possible level of service. Most companies involved in staffing will review their operational practices, including hiring and screening, employee orientation and concerns regarding substance abuse.

There needs to be a program that addresses client safety, incident investigations, taking corrective measures when necessary, and providing injured workers with a solid return-to-work program. Investing in risk management training provides more dependable and safety conscious employees and increased client satisfaction. Risk management impacts all the areas that define operational excellence, and staff insurance is key to any successful risk management strategy.

Matching employees and clients

It’s important to have an intimate understanding of a client’s operations in order to provide workers who meet their standards. This includes the physical abilities to fulfill the essential functions of the job as well as skill sets that are consistent with the client’s operations.

Having comprehensive screening and filtering processes in place allows your staffing agency to be able to employ higher quality workers. Staffing services that have Workers’ Compensation Risk Certification (WRC) demonstrate lower turnover rates than general industry averages.

Accidents in the workplace can cause business interruptions that cost the client time and money. Also, the time and resources necessary to retrain personnel are costly and time-consuming as well. A good staffing agency always provides properly trained personnel in order to lessen the possibility of accidents occurring at their client’s facility.

OSHA recordkeeping regulations dictate that all reportable incidents taking place at a facility are documented on an OSHA 300 Log. All workers should come with a documented general safety orientation. By knowing the client’s personal needs, the orientation process can be tailored to accurately reflect the work environments at the client site.

Leave a Reply

Your email address will not be published. Required fields are marked *