Over the past few decades, Human Resource leaders have begun to recognize the effect of risk on their organizations’ strategic success and, even, its survival. The ability to identify risks, especially emerging risks, is a critical competency of Human Resource leaders, especially when linking it to HR’s mission of supporting better senior management decisions and more effective decision making.
At the same time, organizations are most effective at dealing with regulatory compliance and less effective at dealing with the strategic aspects of risk and, most importantly, connecting risk management to strategic success.
To be effective, risk management must have a broader
approach, to include strategic planning risks and the risks
created by daily operations. A constant in today’s corporate
culture is change. With change comes an increase in risk. It
is imperative that today’s Human Resource professionals have
an awareness and understanding of these risks.
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