In addition to making a profit and building brand loyalty, one of your top priorities in business should always be protecting customers and employees. Even if you're running a very tight ship, the potential for accidents, injuries, and illnesses caused by your business exists. Anything from a wet floor to ill-prepared food can lead to trouble, and in some cases, an injured employee or customer can cost your business thousands or more.
How Do You Identify Risks?
One of the easiest ways to identify risks in the workplace is to simply walk through and observe them. If you're used to sitting in an office all day, take some time to spot-check areas of your business or retail locations. Do you see potential electric hazards? Are safety protocols being carried out? Are security measures in place to protect customers and employees? If not, then you now know some areas where risk control needs to be implemented. You should also talk one-on-one with various employees to learn where they experience risks during daily operations.
Engaging in Risk Control
In some cases, risks can be completely eliminated, while in others, they can simply be controlled. For example, in a situation where a faucet is leaking in a bathroom, the risk can be eliminated by having the leak repaired. However, in other cases, such as when a hazardous material is being used in a manufacturing process, the risk may only be able to be controlled. When it comes to risk control, you want to try to find a way to mitigate the potential damage without causing serious damage to your operating costs. At the end of the day, however, it goes right back to protecting the wellbeing of customers and employees.
Work With a Risk Control Expert
If you're finding it difficult to identify and control risks, consider working with a risk control expert. These professionals can assist your company in finding areas where risks exist while helping you to eliminate or mitigate such risks. An added benefit to working with a risk control expert is that you may receive a discount on your business insurance coverage as a result. Many business insurance companies view risk control efforts as a sign that your company will be less likely to file a claim, and therefore, you reap the financial rewards.
Poms & Associates Offers Risk Control and Business Insurance Solutions
Regardless of the type of company you run, Poms & Associates is available to provide risk control and business insurance services that can protect your customers and employees. The professionals at Poms & Associates can help you to identify risks that pertain to your unique company and operational model, eliminate or mitigate these risks when possible, and provide you with peace of mind. With Poms & Associates’ business insurance solutions, you can also rest assured that if something does go wrong, your company will remain protected. To learn more, contact Poms & Associates today.
Andrew Rusnak is an author who writes on topics that include risk control and business development.