To be effective, organizational risk management policies must be written, strictly followed and enforced, and the records must be retained.
What to Consider When Creating a Risk Management Policy
- Find a template that fits your organization.
- Include the policy inception date and any revision dates so that there is no mistake as to which version is current.
- Set out in clear and simple terms what your policy is for, how it is to be carried out and by whom.
- Ensure that the policy is compliant with federal, provincial and municipal regulations.
- Keep it simple – a maximum of one to two pages is usually sufficient.
When Establishing a Procedure
- Create a document with step-by-step instructions on how to complete important tasks.
- Include supervisor contact information in case an employee needs to obtain authorization to go beyond the stated procedure.
Implementing Policies and Procedures
- Put all policies and procedures in writing.
- Consider obtaining feedback from employees, customers and other stakeholders about what should be in the policy or procedure.
- Develop forms and reports to supplement policies and procedures.
- For example, create an inspection and maintenance form that must be completed as part of the inspection and maintenance policy.
- Keep all forms and reports on file.
- Obtain legal advice to determine the length of time for which forms should be kept.
- Clearly communicate policies and procedures to employees and other stakeholders to create buy-in. Acknowledge feedback.
- Hold an orientation meeting.
- Distribute a copy of all policies and procedures to employees – consider creating a handbook. As part of orientation, ask employees to sign a copy of all policies and procedures to ensure they have read and understood the content.
- Post information in common areas such as a lunchroom.
- Train and mentor employees.
- Make sure policies and procedures are followed.
- Perform and document audits.
- Assign a person who is responsible for tracking progress.
- Change and update policies and procedures as necessary.
*Source: Compiled with Canadian Risk Intervention Inc.
Thank you to Insurance Bureau of Canada for this information. To view original article, click here
