It is a process to identify potential hazards and analyze what could happen if a hazard occurs. Risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events.
Our company offers expert continuous improvement consultancy tailored to your organisational needs. We aim to provide a first-class standard of service through the use of experienced, qualified, professional consultants and instructors.
We can ensure your organisation complies with current legislation and best practice, whilst minimising the risk to employees and the business alike. This is achieved by providing a flexible, cost-effective service, tailored to your unique needs with practical advice that will ultimately allow you to manage the risks associated with your business, without incurring excessive costs.
WHY YOU NEED A RISK ASSESSMENT
Most company owners don’t realize the high cost of employee accidents and injuries. Legally, the company is responsible for paying the injured employee’s medical bills and compensation for lost work, but it’s the “hidden” costs that really take a toll on a company’s finances.
These costs might include training a replacement employee, loss of administrative time, repairing equipment, time spent filing paperwork, higher insurance premiums, and low morale among employees.
There are several steps owners can take to reduce the chance of on-the-job accidents. The first step is to perform a risk assessment. Once the main areas of concern are located, the company can then begin the process of fixing it.
Assessing legal liabilities is another key step in the risk management process. Companies need to perform an assessment of their structure to identify any areas which leave them vulnerable to lawsuits or legal action. Unfortunately, legal liabilities oftentimes go unnoticed by business owners until it’s too late.
THE RISK ASSESSMENT PROCESS
IDENTIFY THE HAZARDS
According to the HSE (Health and Safety Executive), a hazard is a situation in the workplace that has the potential to harm the health and safety of people or to damage plant and equipment. The situation could involve a task, chemical or equipment used. The best way to prevent injuries or illness in your workplace is to find these hazards and fix them.
One of the most important aspects of your risk assessment is to accurately identify the potential hazards in your workplace. A good starting point is to ask, “what is it about the activities, processes or substances used that could injure my employees or harm their health?
EVALUATE THE RISKS
You are not expected to anticipate unforeseeable risks.
Your risk assessment should only include what you could reasonably be expected to know.
G2’s Risk Management Consultants take a thorough and unbiased look at what your risks are, what you are already doing to mitigate and minimize those risks, and evaluate what can be done to eliminate the risks.
HAZARD MANAGEMENT
The final step in the process of risk assessment is to create a hazard management, or risk management plan. This is a continuous plan that addresses the identified hazards in your workplace.
It doesn’t need to cost a lot to improve the health and safety of your workplace.
The services G2 provides emphasize strategic methods to prevent injuries, reduce operational costs and improve production, performance and corporate culture.
Services include:
1) Turnkey Risk Management Feasibility Studies
GAP Analysis and Implementation Planning
2) Risk/Exposure Evaluations
3) Liability/Loss Mitigation and Experience Modification Rate (EMR) Reduction Strategies
Organizational Goal Setting
4) Contingency Planning
5) Risk Control and Financing Consultation