Human Capital Risk Management
The success of any company will depend on its ability to understand how human capital links its performance to its wealth. Human Capital is a key emerging risk for many organizations both inside and outside the energy sector. To further assist our customers in risk management practices we've developed this tool to provide some guidance to approaching this risk.
According to recent U.S. Conference Board Inc. research, human capital risk ranks fourth out of eleven top risks in terms of potential business impact. This makes it more important than many other areas that often receive more attention when discussing risk management, including IT, finance, supply chain, and reputation.
In today’s ever-changing corporate environment, Human Resources is continually asked to take on other, even greater roles. As this evolution continues to occur, those in HR may be seeking additional ways to identify and analyze the opportunities and risks associated with human capital risk. By approaching human capital on a risk basis, the HR team can become a more strategic partner, further raising the HR team’s profile within the organization. A strategic human capital focus can add to the future evolution of the organization and the development of a stronger more vibrant operation.
The MEARIE Human Capital Risk Management Guide will introduce the topic of human capital risk and provide risk assessment tools to serve as a starting point for your corporate evaluation and risk management activities. This guide provides an outline of the step-by-step risk management process, and describes how that process can be applied to the management of human capital risk.
Insurance Bureau of Canada
The State of Human Capital 2012 False Summit; McKinsey & Company, The Conference Board (USA)
Managing Human Capital Risks: Whose Responsibility is it Anyway? – Michael Fuchs, Deloitte- Corporate Compliance Insights
Managing Human Risk Capital – Human Resource Executive Online
Workplace Wellness Alliance – Making the Right Investment: Employee Health and the Power or Metrics
Global Talent Risk – Seven Responses
Deloitte: Human Capital Trends 2013 – Leading Indicators
Risk Insurance Management Society (RIMS) Strategic Risk Management
For more information, please contact MEARIE's Insurance & Risk Management Services team at firstname.lastname@example.org.