1 Human Capital Development Forum in ICT 24th-

Transcript:1 Human Capital Development Forum in ICT 24th-:
1 Human Capital Development Forum in ICT 24th- 26th February 2014 crossroads hotel Lilongwe, Malawi 2 Planning Risk Management in Human Resources Presenter: Jonathan P. Mwakijele, BSc, MCM, MSc, Head of Training, Consultancy and Research Unit, African Advanced Level Telecommunications Institute (AFRALTI), Nairobi, Kenya. e-mail address: jmwakijele@afralti.org 3 Planning Risk Management in Human Resources Planned approach aims to identify, assess and resolve risk items before they turn threats to organisations. 4 Content PART I What is risk? Introduction to Risk Management Risk management Assessing risks - Workforce planning: Job analysis and job descriptions - Recruitment and selection - Performance appraisal Quantify the Risk 5 PART II Introduction to Risk Management in HR Applying risk management to HR The risk management process - Identify the risks - Assess the risks - Develop strategies for managing risks - Implement - Monitor Who is involved in the risk management process? 6 PART I The paper has been adopted from Bhima Rao’s paper on Devising risk management in human resources. 7 What is risk? Risk is defined as the “perceived extent of possible loss”. It may be a small or a big risk? It varies from situation to situation. Risk is a part of personal and business world. 8 Introduction to Risk Management Understanding risk is the first step in risk management. The risk assessment tool is known widely and used effectively in project management and execution, finance and accounts, manufacturing, and marketing. Risk involved in Human Resource Management function and its assessment is yet to take a firm root. Formal risk analysis and risk management in HR can help to evolve strategies to minimize the disruptions of plans, control cost and control loss. 9 HR audit is the first step to understand the risk involved in daily HR function and in long term HR plans. HR audit is not only conducting Labor compliance audit. Assessment of risk due to non-compliance of labor laws is only one part of the HR function. The need of the day is to assess the risk in the entire scope of HR function and in relation to the objectives of the organization. How to assess the risk of HR function, analyze and estimate the risk which would impact business results and managing the identified risks successfully is a new challenge to HR professionals. 10 Risk management “Risk is the threat that an event or action will adversely affect