Companies are legally required to conduct an occupational risk assessment. This means that every employer must assess workplace safety and health risks in compliance with the law.
And two things are certain. One, you can’t avoid it and two, it’s a tedious and time-consuming process.
Another way of seeing it, beyond the legal obligation, is that a risk assessment study can be a vital tool for effectively managing workplace safety and health.
In short, since you have it at your disposal, why not maximize its benefits for the well-being of employees, the wider team, and the company?
And why not take it one step further? How can you leverage your risk assessment study and transform it from a mere obligation into a powerful strategic tool?
How to make best use of your risk assessment?
Let’s start with a simple truth. A successful risk assessment provides you with valuable, actionable data at your fingertips.
Once analyzed, this data can help you answer important questions, such as:
What could possibly occur, and under what circumstances?
What are the possible consequences of each scenario?
Are the risks properly managed, or is further action required?
Let's take a closer look at how you can effectively put this data into practice
1. Determining the likelihood and severity of potential risks
Taking the risk assessment one step further, you can create a key tool for the company’s health and safety: a risk matrix. This visually represents both the likelihood of a hazardous event occurring and the severity of its potential consequences.
A risk matrix helps you identify the necessary actions and prioritize them accordingly..
For example, the risk matrix indicates that a potential risk with a high likelihood of occurring and severe consequences should be addressed as a priority.
2. Your guide for more efficient budget allocation
The risk assessment provides the company with a clearer understanding of the costs associated with health and safety.
By understanding all potential risks and their consequences, you can identify which areas require immediate, short-term, and long-term budget allocation.
This ensures that spending on health and safety is both strategic and effective, with resources directed toward areas that will have the most significant impact on risk reduction.
3. Improved training and employee safety
Conducting a risk assessment provides an ideal opportunity to ensure your employees are fully aware of all potential hazards in the workplace.
Each time a new risk assessment study is conducted, it may reveal new data, including potential risks that didn’t exist previously.
In such cases, it's crucial to ensure that employees are informed and provided with the necessary training to mitigate the identified risks.
Make the most of your risk assessment
The risk assessment holds valuable data that can strengthen your company.
At Tekmon, we can help by streamlining all tasks within the Health and Safety department.
At Tekmon, we’ve developed an innovative Health and Safety platform designed to help you efficiently organize your department’s operations, ensure compliance, and keep employees consistently protected and safe.
