Corporate Risk Management - Latent Term Paper

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While it may be seen as quite simple to put preventative measures in place to limit discrimination within a company, large companies especially may have difficulty in monitoring every case of discrimination in the company. There are however risk factors that can be taken into account when assessing discrimination issues.

The amount of diversity in a company and its various divisions should for example be taken into account. It should be ensured that there is a reasonably fair distribution in terms of various diversity factors such as religion, race, and gender. Furthermore, training programs and informal events can go a long way towards introducing employees to each other from a basis other than their personal preferences or heritage. Such issues should be handled with extreme care, while the specific personalities should be taken into account. A secretary may for example see a comment that was meant as a joke, as good grounds for a law suit. Such issues can be mitigated by training and an open communication system between employers and employees.

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Finally, a company's employees are its most important asset. Therefore a manager will want to limit the time that an employee is obliged to spend away from work as a result of illness or injury. A construction company, for example, carries a high risk of injury or even death, in some cases. While many of these risk factors can be mitigated via thorough assessment, the Business Link Web site suggests that managers insure their business against the considerable financial consequences of losing key employees by means of illness or injury. This mitigates the risk not only of obvious risks, but also those that are not immediately obvious in the assessment phase......

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