Risk Management is part and parcel of corporate culture. It underscores and influences major decisions in organizations and should therefore be formalized. Risk management directly relates to accountability and must be enforced in all departments of an organization. By enforcing risk management, organizations stand to gain major benefits including increased bottom line results. Such benefits include:
1. Reduced damage on company property.
2. Reduced loss of working hours by staff.
3. Reduced Insurance Premiums.
4. Bigger financial savings.
5. Effective utilization of Organizational resources
6. Enhanced Communication between different departments
In order for an organization to implement an effective risk management policy, there must be a complete refocus of corporate priorities. The first step is to identify the inherent risks affecting the organization, then document the risks and finally come up with ways of preventing or stopping them. The process requires high levels of objectivity, transparency, consultation and innovation. It must therefore be treated as a high priority project and possibly, assigned to different managers for implementation.
One of the major risks affecting corporate organizations is crime. The Department of Justice estimates that over a million crimes are committed at the workplace every year. About 10% of these crimes involve offenders armed with handguns. As such, managers are required to form and implement astute crime reduction measures as part of their risk management policies.
Once you have set up a clear Crime policy, it will act as a benchmark for expected behavior and provide guidelines on how the company deals with criminal incidences. A crime policy notifies employees that specific behaviors will not be tolerated at the workplace. It forbids threats and harassment of any form and guides employees on how to report such incidences. A typical crime policy entails concerted effort and cooperation between Management and Human Resources.
A recently developed approach to Crime Prevention at the workplace entails the use of communication to prevent crime. Most workplace related crimes could have been prevented simply by effective communication between the concerned parties. Mutual communication between individuals, companies and law enforcement agencies can lead to crime prevention at the workplace.
Security companies have begun developing methods of reducing workplace related crimes and offenses through communication. This is achieved by compiling useful crime prevention data on one database, that can then be utilized by a pool of companies. The secure database is run by the security company and can be accessed selectively as and when it is needed.
All organizations must embrace Risk Management in order to operate successfully. Crime at the workplace is among the major risks facing corporate bodies in the US. It is therefore necessary for Managers to formulate effective Crime Prevention policies to protect both the Organization and the workers. One way of doing this is by signing up for database communication services offered by security companies.
Mr Joe Castaldo is a fraud expert with over 10 years experience as a law enforcement officer. Before forming IronNet Solutions, Mr. Castaldo served as a Lieutenant in Texas SWAT team.
Find out more about fraud and how to prevent it by logging onto http://www.ironnetsolutions.com
