From getting out of bed through to a large-scale construction project – everything carries an element of risk. The aim of any risk management system is to put in place measures to reduce the likelihood of the adverse event occurring and, if it does, to keep negative impact to an absolute minimum. Although this sounds straight-forward in theory, in practice it can be a complex and time-consuming operation.
Businesses face a wide range of risks: from failure to work in a way that complies with relevant health & safety legislation through to inadequate data protection systems, not complying with relevant environmental requirements or leaving an excessive carbon footprint – it’s all too easy for a business to inadvertently be placed in a high-risk position. Robust risk management not only helps to ensure an organisation complies with the law, it frequently leads to better outcomes for clients, employees and profitability.
What does risk management involve?
Risk management is a multi-stage process which is suitable for any business. Initially, it’s necessary to identify what the main risks to the organisation might be. Once these are clear, it’s a case of auditing the systems which are currently in place, in order to identify any potential oversights or weaknesses. If there isn’t a risk management system in place, there will be a need to devise something suitable. Once a system is created, it then needs to be implemented, monitored and evaluated in order to test its effectiveness. Monitoring and evaluation is an on-going process – as businesses evolve and grow, there is a need for risk management systems to grow with them. Periodic revisiting of the systems ensures they stay relevant and effective.
Why is risk management important to businesses?
Pro-active risk management has a number of advantages. The main benefits are:
- A reduction in the risk of inadvertently breaking the law! Health & Safety and Data Protection, for example, are two areas where businesses are required to comply with various pieces of legislation. In these areas, risk management focuses on ensuring compliance, helping a company to operate in a legal manner. This not only reduces the potential risk of a criminal prosecution should an adverse event occur, it also helps to reduce the opportunity for costly litigation.
- A high-calibre risk management system can have a positive impact on your insurance premiums! Because risk management reduces the likelihood of adverse events, it’s welcomed by insurance providers.
- Greater corporate resilience. Part of risk management involves considering not only how to reduce the risk of an adverse event, but also in planning how best to minimise the negative consequences should an adverse event occur. Contingency planning enables a company to “bounce back” rapidly following a set-back, reducing the risk of severe consequences.
- Improved employee and customer care. It’s vital to protect your customers, your workforce and the public when they’re on your premises and/or engaged in activities for which you take responsibility. Risk management improves safety, ultimately resulting in better ways of working.
- Greater sustainability and potentially more profit. An organisation that’s pro-actively managing its risk is a forward-planning enterprise that’s safeguarding its assets, be they physical or human. This, in turn, reduces the chances of key risks materialising as well as protecting the business should the worst happen.
What are the possible consequences of not having a risk management system in place?
Some of the possible consequences are given below:
- Without a risk management system in place, it’s very difficult to work out whether what you’re currently doing is sufficient to ensure compliance with relevant legislation. In some cases, you could be operating illegally and be completely unaware until an adverse event and subsequent investigation exposes the problem.
- A lack of risk management leaves an organisation vulnerable to adverse events. If you don’t know how you’re going to respond should disaster strike, there’s a risk of ending up without the appropriate resources or planning to deal with the emergency.
- You could lose customers. Particularly when it comes to matters such as Data Protection, customers are highly likely to desert should an adverse event become public knowledge.
What risk management support can JVR supply to your business?
JVR provides a cost-effective, holistic risk management service that can be customised to meet your individual requirements. We offer FREE GAP analysis, enabling you to be clear regarding the main areas of weakness within your current risk management systems. With this information as a baseline, we are able to devise low-resource solutions which make a measurable, positive impact.
Why chance the problems which poor risk management can bring? Get in touch to find out more.
Frequently Asked Questions from our Customers
Yes we can, we can assist you with any of the accreditation featured on our website. We have a 100% record of securing any of the accreditation in the first audit for all our customers for the last 13 years.
More to the point, I ask clients how quickly can you start. We can have a consultant working on your accreditation within the hour if you are ready. The only things that take time are the audit dates, these are issued to the client by the certification body so it is out of our control.
This depends on how much the client has in place already. The more they have, the easier it becomes to work on their accreditation. The gap analysis that we carry out is free of charge and afterwards will give you an exact fixed price.
The fixed price will include the following –
- Carry out all the work ( creating documents & processes tailored to your company )
- Attend the audit ( as your expert consultant ) or make the desktop submission.
- Make any corrections that the auditor may highlight to ensure that you obtain your accreditation the first audit.
Initially, we need to talk to you to carry out the free gap analysis. Afterwards, we would require you to forward all the relevant documents. After that, we can complete the work with the minimum of your input, leaving you to concentrate on doing what you do best for the company.
Yes! Let us Manage your Accreditations with Ongoing Support and Maintenance. With us managing your accreditations, your team can then focus on business growth and development. This gives you peace of mind knowing your compliance is being routinely managed by professionals. Ongoing support and maintenance avoids panic in your business when suddenly faced with an audit, knowing at all times you are well prepared.
Achieve Accreditation and Compliance with JVR
JVR Consultancy was formed in the year 2008 and their head office is based in Windsor and Maidenhead. We noticed that there was a gap in the market, for companies who work in the construction, rail, utilities, oil and gas sector who were not fully supported in the way that they could be when it came to industry compliance and certification. That is why our highly experienced team of compliance consultants can serve these sectors by providing over 135 years of combined experience with all compliance needs. In short, you won’t find anyone else who cares as much, or who tries as hard as we do.
Speak with one of our experienced consultants. At JVR, we know that time is precious, and you want the answers to your questions quickly, especially during an audit!. Once we speak with you for the first time over the phone, we need around 10 minutes to fully evaluate which accreditation you need support with and a brief introduction into you and your company.
Managing Director at JVR Consultancy, Steven Sandhu, is passionate and committed to supporting his clients within their chosen Compliance accreditation. With over 15 years of experience across multiple compliance industries, Steven prides himself on delivering 100% accreditation success for his clients, mixed with a passion for providing excellence by understanding the goals and the needs of his clients’ businesses. All this, combined with his strong breadth of skills and knowledge by routinely researching industry requirements changes and introducing new regulated requirements
Our consultants have an extensive level of experience in developing solutions and offering guidance for our clients and their businesses. We offer a free GAP analysis, which will help to assess the difference between your business performance and your goals. It’s a fantastic way for you to find out if your business needs are met, and if they aren’t, it gives you the insight and confidence you need to deliver improvement before an audit. Learning more about what is Gap Analysis and how will the report benefit you.
With a success rate of 100% and a team who will go above and beyond to make sure that your expectations are met, you know that you can trust in us to provide you with the knowledge, resources and expertise you need to make a difference. Contact us today to find out more.
To identify the objectives and benefits that are needed to achieve your desired level of compliance, we offer a FREE, no-obligation Gap Analysis. Our analysis will assess your current systems and documentation. Just start your journey by filling in the form below, and one of our specialists will contact you (typically within one working day) to make arrangements.
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Book a Free Remote Gap Analysis during Covid-19 for your business. To learn more, why not read our What is Gap Analysis blog article and understand how a Gap report would benefit your company.