Assessing and Managing Risk
You were successful in getting the Operations Manager position approved by Mr. Chip, and you have initiated the recruitment and selection process to find the right fit for the position.
Aside from recruiting new employees, another responsibility of the human resource manager is to assess risk. The people that work for the organization are a source of risk. At the same time, people play an important role in managing risk and problem solving. It will be important in your role to proactively assess risks such as economic risks. What steps would you take to assess risks and ensure these risks are being addressed proactively? Be sure to consider journals and organizations an HR professional should subscribe to and become a member of.
To complete this assignment, use at least two credible sources to prepare a 4-5-page risk assessment plan that you will present to the CEO. In your plan, you will present a case for the need to proactively evaluate risk and respond to unforeseen risk. Please include the following in your plan:
- Explain how an HR department benefits from proactively assessing risk. In your explanation, provide information regarding current trends in the HR industry for assessing risk. Cite your sources of information.
- Summarize the process by which HR departments proactively evaluate risk.
- Describe at least one potentially unforeseen risk, such as economic changes, and analyze how the HR department would strategically respond.
- Once the risk to the company is identified and the HR department has a strategic response, the new operations manager will need to create a policy and process to ensure the risk is mitigated. Provide three points the operations manager must include in the policy and process.
Include in-text citations and a title and reference page formatted according to APA standards.
In the current industries, risk has become part of the organizations. In most cases, organizational risks are mostly presented by human resources. This is through their actions and decisions. Additionally, it is hard for the company to avoid risks. The only way to go about it is by establishing various measures in order to mitigate them. The common risks that confront organizations include economic risks, operational risks, compliance risks, competitive risks, and others. The financial risks allude to the probability that economic factors will reduce sales or increase the cost of the production. Competitive threats allude to the dangers depicted by the competitors in the industry. They may affect different operations in the organization………….
APA 1352 words