Three Things Every Construction CEO Should Know About Risk Management
Aug 02, 2022
As the CEO, you try to keep tabs on all the critical functions of your organization. Some are easy to monitor, but for others, such as risk management, the metrics may be incomplete or misleading. How can you know that your risk management function is all it should be? Here is some big-picture advice.
Risk management may be at its best when it is a byproduct of doing business differently.
Nobody wants an unsafe work environment. But in the real world there are practical limits to how much time and resources can be spent on safety, and more effort doesn’t necessarily translate into better results. Sometimes the most effective safety initiatives are those that are accomplished by doing things for reasons other than safety.
When people are given tools to make their job easier, and empowered to use technology in ways similar to what they do in their personal lives, then adoption is far more likely. The best modern safety and incident management technologies share these characteristics and enable organizations to better protect their most critical asset.
Technology is an effective response to the talent shortage.
The trend is unmistakable: talent will remain in short supply, will be expensive, and will have greater expectations. We all know that retention of current staff is a must. But what to do?
One under-explored and very attractive opportunity is the adoption of workflow management tools that replace under-productive human effort and mundane tasks with high error rates with automation. Those who have adopted Aclaimant for risk-related workflow management report better outcomes along with dramatic efficiencies that reduce the need for additional hires and allow companies to redeploy existing talent to more satisfying and higher-value-add tasks.
Make sure you’re taking advantage of the new ways to manage risk.
Technology has transformed nearly everything, and risk management is no exception. But because risk managers are not necessarily technology experts, you can’t take it for granted that the new possibilities are being fully explored and evaluated.
Here are two notable symptoms of potential under-utilization: first, technology that is centered around a backward-looking Risk Management Information System devoted primarily to claim record-keeping; second, the failure to deploy risk technologies beyond a group of core users within the risk management function.
The most effective risk technologies are forward-looking, help management identify and diagnose top priorities, and empower daily operators to do their job better and more safely.
With the Aclaimant platform our configurable workflows and dashboards keep your risk teams engaged to provide a safe workplace for your business. Empowering your workforce to identify risk hazards is critical to avoiding interruption of business and keeping your business profitable. Learn more about the Aclaimant platform by speaking with someone on our team.