Risk Management: A Department Of One

If you’re “it” when it comes to risk management for your business, there’s a lot of responsibility on your shoulders. How do you determine the best place to start, given limited time and money, to keep your workers safe and keep your company in compliance? Where should you focus? How do you make sure that you stay on top of everything?

There are several important steps you can take to have a world-class safety program, even without many people on your team:

1. Determine the managerial perspective on risk management. This is the single most important thing to do because it will set the tone for your ability to drive the risk management initiatives of your company. Do everything you can to make this attitude proactive, rather than reactive.
2. Analyze the current state of safety in the business. An initial SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) will prove invaluable for planning risk management.
3. Review the mission statement and overall goals of the organization to help align the safety process. The results will determine the direction to go; whether it’s compliance, the creation of a safety management system, or some combination of the two. To take the program to another level, take a careful look at how you need to integrate safety into the process.
4. Understand the OSHA standards that apply to your business – and make sure that everyone in the organization is familiar with the basics of these regulations.
5. Evaluate your safety plan from a business perspective. Develop a budget that measures your financial return on investment.

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