Risk Management for Human Resources Professionals

Introduction

Human Resource leaders have begun to recognize the impact of risk on their organizations' strategic success and, in some cases, survival over the last few decades. The ability to identify risks, particularly emerging risks, is an essential skill for Human Resource leaders, especially when linked to HR's mission of assisting better senior management decisions and more effective decision-making.

Simultaneously, organizations are most effective in dealing with regulatory compliance and less effective in dealing with the strategic aspects of risk and, most importantly, in connecting risk management to strategic success.

To be effective, risk management must take a broader approach that includes both strategic planning risks and operational risks. Change is a constant in today's corporate culture. Change brings with it an increase in risk. It is critical that today's Human Resource professionals are aware of and understand these risks.

This course will highlight on:

• Methods to develop, implement and oversee formal and routinized processes for monitoring the organization’s internal and external environments to identify potential risks

• Monitoring and evaluating macro-level labor market, industry and global trends for their impact on the organization

• Communicating critical information about risks and risk mitigation to senior-level employees and external stakeholders

• Evaluating the anticipated level of risk associated with strategic opportunities

• Developing plans for crisis management, contingency and business continuity for the HR function and the organization

Course Objectives of Risk Management for Human Resources Professionals

This program will follow the risk management process described by the International Organization for Standardization (ISO), which sees risk management as a strategic and enterprise challenge. Like strategic planning and management, risk management is cyclical and must constantly be reassessed, evaluated against changing conditions, and improved. 

At the end of this course, you will get:

• The context of risk is both internal and external. Understanding the external environment, defining risk appetites, and setting risk goals

• How to identify and analyzing risks as the first phase of risk management. The types of risks an organization must manage and the tools it can use to identify these risks, analyze them to understand their significance and potential impact, and prioritize

• To examine the tactical levels of risk management and the various approaches to managing both the upside and the downside of risk

• How to evaluate and audit risk management policies and processes as well as report on their implementation and assess the effectiveness of the organization’s governance structure

Course Methodology of Risk Management for Human Resources Professionals

This course uses a range of proven adult learning techniques to ensure maximum understanding, comprehension, and retention of the information presented. This includes group discussions, facilitated case studies, presentations, and team-based exercises. It will also include case examples of situations in which the instructor has been personally involved.

Each session allows you to develop your skills and apply them to your organization to analyze the effectiveness of your current approach and your plans for its further development.

Organizational Impact of Risk Management on Human Resources Professionals

Human Resources can play a role in creating and reinforcing a corporate culture that reflects a proactive stance toward risk and risk management by including a risk management perspective in all HR activities: recruitment, onboarding, performance management, and the rewards systems. HR can also include the risk management aspects in the leadership development programs and in the leadership pipeline.

In today’s constantly changing world, integrating a risk management perspective into the culture will make it easier to implement change programs by reducing uncertainty, increasing organizational resilience, and, ultimately, organizational success.

Personal Impact of Risk Management on Human Resources Professionals

It is critical for today’s Human Resources professionals to understand and appreciate all of the dimensions of their organizations and the impact these dimensions can and will have on their Human Resources practices. One of the competencies that Human Resources must display is Human Resource Expertise, which allows Human Resource professionals to apply their knowledge to solve organizational problems.

In today’s constantly changing world, the concept of risk management becomes, then, an important addition to Human Resources knowledge.