Picture the ideal workplace; where employees and leaders find fulfilment in the work that they do, respect is prioritized, targets are being met, productivity and engagement are at an all-time high and interpersonal connections reflect a high level of civility and respect.
Organizations and workplaces that reach this state often have invested effort, time and resources in creating and sustaining workplaces that encourages inclusion, professionalism, and innovation. Individual or collective on-going learning can be a key factor in sustaining workplace environments that effectively mitigate human resource risks and reflect a high level of civility and respect in the workplace.
We know that humans are risk averse. This can be due to our evolutionary heritage; to be cautious means a better chance at survival. This can be due to our brain alerting us when we come across uncertainty, because uncertainty means discomfort. This can also be due to a phenomenon called loss aversion: when we feel the pain of loss more strongly than the pleasure of gaining; leading us to avoid situations where we might experience losses or negative situations. There are current processes organizations have in place to mitigate or avoid risk because risk can cause significant conflict and challenges, yet we often fail to acknowledge the power of a risk informed lens within the arena of learning and development.
A human resource risk informed lens refers to the practice of approaching human resources management and decision-making with a focus on identifying, assessing, and mitigating potential risks and challenges. This approach recognizes that the management of human capital comes with its own sets of risks of all scales and various complexities and thus need to be managed and mitigated using relevant and fitting strategies and tools.
Corporate training that adopts a risk informed lens can bring forth many benefits. Let’s uncover the value of a risk informed lens on corporate trainings:
- Awareness: Training approached with a HR risk informed lens helps employees and organizations identify potential risks, challenges and roadblocks and takes proactive measures to prevent those risks. Being naturally inclined to be risk averse, employees and organizations can have an elevated understanding and awareness of certain practices or behaviors that can create environments for risk.
- Decision-Making: Having training delivered with a risk informed lens equips employees with the skills, knowledge and tools that they need to reflect and make better decisions when faced with uncertainties and potential risks.
- Cost-Reduction: When we can identify risks, we are more inclined to manage them effectively; leading to cost savings by minimizing accidents, conflicts, and other human resource risks that often emerge in the workplace (i.e. employee flight risk, high turnover, high absenteeism rates, low productivity, etc.).
- Innovation: By being aware of human resource risks, how they can emerge and how they can be managed or mitigated effectively, employees can feel more empowered to be creative and innovative as they simultaneously and confidently manage and mitigate potential pitfalls.
- Resiliency: Organizations that take a proactive approach to risk management through training are resilient in the face of uncertainty and challenges and are better positioned for longer term successes. Being resilient also means that organizations are more adaptable in the face of change and challenges.
At Veritas Solutions, all trainings are approached and designed with a risk-informed lens which supports in achieving desired outcomes of promoting safety, respect, reducing costs associated with human resource risks, ensuring compliance, and optimizing resiliency and adaptability within the organization. A risk-informed lens for corporate training is impactful and encourages reflection and dialogue that carries forward post-session.
Click on the link below to learn more about how you can empower your team and further enhance an inclusive environment in your workplace by participating and engaging in trainings designed to be interactive and tailored specifically to support employers and teams mitigate human resource risks in the workplace.
Written by: Basma Tariq Sheikh
Contact Veritas Solutions: https://veritassolutions.net/contact/
Basma Tariq Sheikh
Director, Corporate Training
Basma Tariq Sheikh (she/her) is the Director of Corporate Training at Veritas Solutions.
She has a MSc in Industrial/Organizational Psychology and extensive experience in facilitation, corporate training, and program/content development. She has worked and collaborated with leaders, teams and organizations across all sectors including federal, municipal, healthcare, non-profit, natural resources, telecommunications, financial, and many more in supporting them overcome human resources risks and challenges.