“Almost everything that can go wrong in a business has a human capital component.”
— David Creelman of Creelman Research
Risk management is a fundamental aspect of business planning and operations. However, a surprising majority of businesses are missing what could be the most important aspect of risk management altogether – human capital risks. According to a Deloitte Risk and Regulatory Talent Survey, only 36% of businesses include HR risks in their risk management frameworks. This oversight can be more than costly, it can even result in devastation if the “perfect storm” of circumstances blows through an unprepared organization. This is an entirely avoidable scenario.
Typically impacting businesses in these 5 areas, human capital risk represents a considerable threat:
- Occupational fraud
- Catastrophic workplace events
- Negligent hiring or retention
By including HR threat assessments as part of your risk management program, your organization could predict, prevent, and mitigate damage from any human capital threat.
Because what you don’t know CAN hurt you.
Take a first step today toward keeping your organization even more safe, productive, and profitable.
Flip through our latest SlideShare presentation and consider conducting your own HR threat assessment. It’s a step worth taking.