Enterprise Risk Management (ERM) is at the heart of running a successful business. By identifying and proactively addressing risks and opportunities, enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.
Recognize the behavior that creates a sustainable culture of safety.
Central to the success of ERM is identifying specific employee behaviors that result in the desired outcome. In mergers and acquisitions, you might pay retention bonuses to key business development executives and sales staff to minimize any potential interruption in revenue generation. Likewise, if you want to reduce claims, you might want to recognize individual employees who take personal responsibility for their organization’s safety performance.
SafetyLink gives you a way to quickly and easily implement recognition programs that highlight, measure, reward and report on those behaviors.
The Financial Impact of Safety
SafetyLink also gives you a real time snapshot of your firm’s net savings or net loss position based on claims and individual state workers’ compensation guidelines and compares the position against other benchmarks of your choosing, i.e. your own data from the same time last year or your industry’s average position.
Make risk management an explicit performance expectation.
PerformanceLink and the SafetyLink module assimilate information gathered from multiple data sources about individual exemplary performance - searchable by keyword – and allow you to make risk management an explicit performance expectation. It gives you a way to recognize employees who demonstrate the knowledge, skills, abilities, motivation and character that will strengthen risk management in your enterprise.
Enterprise risk management (ERM) is a process which identifies risks and opportunities relevant to your organization’s mission, goals and objectives, and puts together a strategy to avoid the risks and capitalize on the opportunities. An organization that has risk assessment and risk management embedded in its operational structure and culture is most likely to be a dynamic and innovative enterprise.