Overview:
When it comes to human-related risks, organizations typically focus on a narrow set of workforce risks-the potential risks that human workers pose to the business.
These risks include operational concerns such as worker turnover, poor efficiency, difficulty acquiring and retaining talent, and compliance with regulations.
Their primary focus, if they have a focus at all, has been on the financial and operational impact of these risks. C-suites and boards have only occasionally expanded their focus to include their reputational implications and, more rarely, their human effects.
Yet all risks have a significant human element. Some have an outsized effect on humans. Others are affected and driven to some degree by humans.
As such, we refer to these as human risks because they affect human's professional and personal lives in discernable ways, in addition to the impact they have on your organization's short-term performance, long-term viability, and reputation and brand.
Given the criticality of these human risks, they require the same attention and investments as traditional measures of risks. However, recent surveys that this level of emphasis on human risks is lacking across several dimensions.
Why you should Attend:
Because people touch the many aspects of an organization, a focus on human capital risk is an important part of an effective risk management and compliance program.
Yet it is also because of this 'human factor'-the complex involvement of people in the many aspects of the business-that ownership of human capital risk management can end up ill defined. In fact, many organizations today face major challenges in this area due to a lack of clarity around roles and responsibilities assigned to human capital risk management.
Whether the risk and compliance challenges are those directly related to running a Human Resource (HR) organization (e.g., legal requirements of ERISA, FLSA and ADEA regulations) or some of the more strategic risk and compliance issues that have human capital at their core (e.g., designing talent strategies, aligning rewards, promoting fraud prevention and ethical behavior), sorting out who specifically is responsible for identifying, assessing, prioritizing, managing and monitoring those risks is no easy task.
Human capital risks include:
- Critical Skills shortage
- Insurance and data
- Ethics and behavior
- Intellectual property risk
- Compliance and Regulation
- Supply Chain Risk
- Cybersecurity
Areas Covered in the Session:
- Methods to develop, implement and oversee formal and routinized processes for monitoring the organization's internal and external environments to identify potential risks
- Monitoring and evaluating macro-level labor market, industry and global trends for their impact on the organization
- Communicating critical information about risks and risk mitigation to senior-level employees and external stakeholders
- Evaluating the anticipated level of risk associated with strategic opportunities
- Developing plans for crisis management, contingency and business continuity for the HR function and the organization
Who Will Benefit:
- Anyone with Employee Responsibilities will Benefit from this Webinar but HR Manager, Directors and Supervisors will Particularly Benefit