Risk Management and Worker Protection

Risk Management and Worker Protection

Introduction

Risk management is a very broad concept which has gained a lot of consideration in the recent times because of its importance in almost every profession. This area is very important which the Board of Directors of every organization are obliged to undertake in to provide the necessary safety for human and financial resources. Large organizations mostly have formed a committee, team or department's risk management to take care of the process of risk management. Nevertheless, during the risk management process, every employee in the organization is obliged to play its part in all the stages for instance; compliance with policies and procedures, risk identification and reports to complete, but this is particularly linked with the financial risk assessment (Elsie Omolara, 2010). There is also risk management in protecting workers rights in the field of human resource management. This paper will be focusing on the risk management and workers protection in the human resource management of students at Google.

Discussion

Importance of Risk Management and Workers Protection

Risk management is the process of assessing the risks to the safety and health of employees due to hazards in the workplace. Risk management is the first step in the process managing risks, which allows people to understand identify, employers and employees, what are the measures to be taken to improve safety and health in the workplace. For organizations and specifically for the well known and famous organizations for instance Google, risk management is daily bread. Even if they do not operate a formalized risk management process, each manager is aware of the risks to the achievement of the objectives. Risks can come from both inside the organization and outside it (Erven, 2009). Among the external factors can be identified financial factors, such as changes in commodity prices or exchange rates, and strategic factors relating to changes in demand, supply, competition, or the entire economy. Global risks are summarized annually by the Global Risk Network. For the past two years on top of the list was a crisis, asset prices, which this year hit the debt market. In the upper part of the risk map, it also includes such threats as: stop globalization, the slowdown of the U.S. economy, the increase in energy prices, pandemics and chronic diseases in developed countries. The global demand may also be very important event that involve millions of deaths, diseases, hunger caused by the food crisis, the war (Dayer, 2008).

Through the risk management and the workers protection in the companies have delivered an opportunity to prepare for a global event by adjusting their strategies and prepare a contingency plan (Business Continuity Management). Every day they can manage internal risk, which have a greater impact. Similarly, companies operating risk, which is the day to day operations, seems to be more important than financial risk. For example; the latest report of IBM and the Wharton School says that two-thirds of respondents, large companies suffered in the last three years of significant losses due to the ...