Managing Your Risk: It’s Everybody’s Business

Once the role of an individual or small team, risk management today – the process of identifying, assessing and managing threats to your organisation’s capital and earnings – is everybody’s business.

Of course external risks, like social, economic, and political changes, can’t be directly controlled. You just need to be aware of them and prepared to proactively manage or respond when the time comes.

On the other hand, internal risks, including employee non-compliance, information breaches, health and safety issues, technology adoption and brand reputation –can be controlled.

And then there are areas of your business that you will have some – but not all – control over like third-party liabilities, and supply chain continuity.

Each of these risks has potential to affect every aspect of your business. So, with this in mind, it makes sense to have people right across your organisation who are upskilled, willing and able to recognise relevant risks then act appropriately.

In doing so, your team will reduce uncertainties and feel more confident when it comes to making decisions.

To facilitate risk management across your organisation it can be helpful to initiate regular, interactive risk workshops for different business units, the executive and board, at which previously identified, and new risks, can be discussed, appraised and managed.

Some organisations also equip their staff with a Risk Management app that lets individuals log risks as they identify them – anonymously if they wish. This ensures risks can be assessed and acted upon, as necessary, by appropriate team members.


Reduce Your Risks

For over 20 years, the Ayers Group has worked with corporate contract managers and recruitment companies to reduce the risks associated with hiring white collar workers from within Australia and overseas.

As one of few companies approved by the Australian Department of Home Affairs (Immigration Department), we can employ the international talent you need then on-hire to you, in the process minimising your administrative requirements.  We’ve also built a user-friendly online backoffice solution to help you and your professional contractors manage administrative obligations, from day one. Contact us to find out more.