Risk Management Solutions

It is impossible to eliminate all risks associated with organizational management. It is possible to identify risks and develop preventive strategies for minimizing or reducing them. The first step in identifying risk is knowing where to look. Elan Benefits helps you look in the right direction, ask the pertinent questions and develop practical solutions. Looking in the right direction can include:    

Job Analysis

Job analysis allows you to define the nature, scope and responsibilities associated with a particular job.  By identifying the knowledge, skills, abilities and other components required to successfully perform the job, you lay the groundwork for a comprehensive job description that reduces the risks associated with employment law regulatory compliance.

Job Description

An effective job description identifies the essential functions of the job, outlines the required knowledge, skills, abilities, defines the mental and physical pre-requisites, and provides information about job responsibilities, reporting structure and status.  Well developed job descriptions become a tool for legislatively compliant recruitment, selection, training, compensation and performance evaluation processes.

Job Evaluation

 Job evaluation allows you to assess the relative worth of the jobs within your organization and place them into hierarchical order.  Evaluating a job’s worth in terms of position within the company, skills development, supervisory responsibilities and other compensated factors allows you to develop a consistent compensation strategy that minimizes risk.

Policies and Procedures

Not all company policies and procedures are documented in the employee handbook.  Many are informal, relayed verbally, and vary in description or explanation.   Developing a consistent means of communicating company policies and/or procedures minimizes the risks associated with inconsistent, partial or no communication.  

Record-Keeping and Retention

Knowing which employee records to keep, where to keep them, in what format and for how long is key to remaining legislatively compliant.  The solution is not to keep every employee record for ever!  In addition to establishing record-keeping and retention guidelines, organizations should also develop policies for destroying confidential records appropriately. 

HR Regulatory Guidance