Compliance with regulations is a vital part of reducing risk within an organization.
Compliance with regulations is a vital part of reducing risk within an organization. Businesses in every industry need to continually ensure that proper procedures are being followed to protect workers and property from harm. Unfortunately, this process is becoming increasingly complex and expensive.
The HR Director Magazine reported that companies in the United Kingdom have seen an 8.5 percent jump in health and safety related expenses since 2011. National regulations have placed new requirements on businesses that may demand additional equipment, upgrades to facilities or other costly projects. Companies around the world need to find effective ways to manage risk and comply with local safety standards. Fortunately, employee reward and recognition programs can help firms build a safety-focused culture.
Trucking Info stated that organizational culture is an essential part of reducing risk. When all employees are empowered to report unsafe conditions or make improvements, there is a continual push to meet safety standards. Acknowledging individuals who have contributed to building a safe environment can encourage everyone to take risk management seriously. Similarly, rewards can be offered to individuals following proper procedures to highlight the importance of safety standards.
The right culture will help engage staff members and can provide benefits in other areas as well. A study by the National Safety Council showed a correlation between efforts to reduce accidents and positive customer experiences. By reviewing the customer satisfaction ratings of utility workers, the report found that teams with fewer safety violations delivered better service to their clients.
When employees feel empowered to make improvements to their work environments, they also take necessary step to provide better customer service. Recognition programs are vital tools for motivating workers to take an active role in risk management. Establishing team rewards for successful safety inspections or reducing the number of incidents could help develop the environment needed for continual improvement. Compliance requires the commitment of an entire organization, and reward recognition programs allow businesses to engage individuals and build a safety-first culture.