Your local schools, restaurants and hospitals all have standards that they must follow. The reason for these standards is simple: to manage risk and deliver high-quality services every time.

But ask yourself: do the HR functions at your small or mid-size business follow accepted standards? Do you understand the risks when you incorrectly attract, recruit, retain, discipline, coach, remunerate or terminate staff? Do you know how best to get your HR standards up to scratch to minimise risk, starting today? Do you understand the potential costs to your business if you don’t?

According to Robert S. Kaplan, Emeritus Professor of Leadership Development at the Harvard Business School, “Managing risk is very different from managing strategy. Risk management focuses on negative threats and failures rather than opportunities and successes.” Whereas in business and marketing strategy you’re looking at upsides such as new markets and opportunities; in risk management, you’re looking at downsides: threats and dangers to your business.

Put simply, understanding what can go wrong empowers you to maximise the chances that things will go right.

Download the Introduction Chapter to our new Knowledge Guide and learn how to manage three distinct HR risks so you can position yourself and your business, and leave nothing to chance.

Download the Introduction: An Overview of Risk Management.

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Managing HR risk is a key capability at 360HR Solutions. Whether you need to improve how you attract, recruit and engage new staff, or how you retain, discipline, coach and terminate existing staff, contact 360HR Solutions today.

Send us an email or contact the 360HR Solutions team on 02 4225 2223.