| An insurance company
recently listed its top strategies for businesses to
manage risk and reduce losses. These include:
- Complete
a comprehensive loss analysis. Learn from the past
and put resources where they’re most needed
and effective.
- Identify the true costs of losses,
then
translate these costs into sales dollars. Use this
information to allocate resources to help reduce
or eliminate losses.
- Check web sites, trade literature,
loss control professionals, and other resources.
Insurance
carriers, agents, and trade groups offer potential
sources of information and assistance.
- Perform
a material handling assessment. Moving materials
is
typically a “non-value-added” activity
that can cause high-severity losses.
- Do an ergonomic
assessment. Inefficient movements also are “non-
value-added” activities that can cause high-severity
losses. Improving ergonomics can lessen fatigue and
increase productivity and efficiency.
- Implement
a strategy for managing change. Confronting changes
in the operation up front can reduce risk management
expenditures and prevent losses.
- Educate
senior staff on the fundamentals of risk management.
Decision-makers
who are knowledgeable about the purpose and benefits
of risk management can be a business owner’s
best allies.
- Discuss safety issues at management meetings.
- Review product safety. Many firms
provide
safe workplaces, but overlook the safety of their
products. Product safety problems can have a significant
business
impact.
- Focus training on reducing specific losses
and monitor success. Please call us for more risk
management ideas targeted for your business. We’d
be glad to help.
|
