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Tackling Risk Management Contradictions in India

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India is a country of nearly 1.3 billion, and according to the United Nations 2017 World Population Prospects, has one of the most robust working populations of people between 21 and 35 in the world. Should India’s risk management profession grow along with the country’s population (projected to eventually top China as the most populous), it will usher in an industry-wide change that we are only first catching a glimpse of now.

I have been involved with risk management (and related areas) in India for nearly 15 years. As an Indian, I do not believe we as a whole are naturally attuned to formal risk management. And I’m not alone in this belief, as Dr. Viswanathan Ragunathan, CEO and general manager of the Varalakshmi Foundation said during the RIMS Risk Forum India 2018:

“We are obviously a contradiction. We are, at once, eternal optimists and fatalistic. At one level you can relate to what I’m saying in that Indians do not take too much risk in their day-to-day lives. Yet anyone who has taken the Mumbai trains knows…it’s almost as if we have a death wish.”

That contradiction is symbolic of the state of the profession in India. One of the main challenges we will face is the evolution of the profession within a country and culture firmly rooted in tradition. Risk professionals in India need to constantly reinvent themselves to be seen as valuable to their organizations. Here are three tips Indian risk managers should be keeping in mind in order to provide value to their organizations. And while these suggestions might initially be unique to the region, they may also apply to the global risk management community.

Tip 1: Keep Systems Relevant. Apply the risk management system or process relevant to the business, otherwise, there is no motivation to follow it. An effective risk manager will know their organization from the inside out. Play to your strengths and address whatever weaknesses exist. This will require buy-in from the C-Suite, but demonstrating that it was selected with the company in mind will help sell it.

Tip 2: Know The New Philosophy. The broader outlook has changed from “risk management methodology,” (such as frameworks and templates) to a focus on the active driving of modification measures for key risks throughout the organization.

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This means creating “risk-based cultures” inside organizations–a global trend but one that doesn’t happen overnight. There’s no one right way to do it, but at its core, it involves embracing the position of “we” (the company) versus “the risk” (or external factor).

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You might even introduce the risk management system you selected from the prior step, depending on its accessibility.

Tip 3: Demonstrate Humility. There are several instances where a risk manager has acted on early warning signals and quickly mitigated the threat. Despite those successes, the risk manager’s role is not that of a figurehead and probably should not take full credit for all the results.

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Sharing the kudos among the CEO and stakeholders, as well as subordinates (if you’re fortunate enough to lead a team), satisfies the unwritten conditions of both the national and professional cultures.

Risks can arise from anywhere within or outside an organization. CEOs are not always as clued in as risk managers regarding what is emerging. Therefore, it is our job to implement ERM programs that facilitate scenario-based workshops. This will help the CEO and stakeholders identify and mitigate at least the “known unknowns”

Generally, if risk managers do their due diligence, then a situation will have been prevented from the outset. And if something is missed, then the famous Indian term, “Jugaad” helps us. But Jugaad is something for another post.

Tips to Prepare Your Organization For An Older Workforce

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People are living and working longer today than in the agricultural and industrial ages. The growth in the number and percentage of individuals over 60 and 80 years of age is already having a global impact.

From 1980 to 2017, the number of individuals over the age of 60 doubled to roughly 900 million. This segment of the world’s population will double again by 2050 to nearly 2 billion, according to the 2017 World Population Prospects report by the Department of Economic and Social Affairs of the United Nations Secretariat.

Risk professionals can prepare their organizations for the coming changes and opportunities of an older workforce with the following strategies:

  1. Customize a workplace safety program. Organizations can utilize various levels and different methods of training to improve safety awareness.
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    These include new hire training, annual mandatory compliance refreshers, on-the-job training, shadowing and formal mentoring programs, educational programs, and certifications. Training can focus on areas such as safety awareness, new technology, ergonomics and workstation setup, life skills, and other soft knowledge. This will also help with safety in general among the entire staff.

  1. Update the education and onboarding process. An important consideration is how different generations of employees learn, so specific training methods tailored to each generational group can be offered. Where online training modules may work for younger employees, older employees may prefer on-the-job or in-person training. It is up to each company to best identify the methods for training its workforce so the content of the training is effectively delivered and understood by its intended audience.
  2. Review training styles. In addition to receiving ongoing training, older employees may feel more engaged if they are asked to teach newer or less experienced employees. One area often overlooked is training for managers who may have older employees under their supervision. Much has been written about training and approaching millennials, however, the reverse is an emerging risk. Companies should begin focusing efforts on how to relate to and the best way to supervise older workers. This is an area of opportunity to enhance a company’s culture and develop the employee-employer relationship.
  1. Know a role’s physical demands. Employers need to ensure they have a good understanding of the actual physical demands of each job position in addition to the physical limitations of individual employees.
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    Post-offer and pre-employment functional capacity exams are recommended for all age groups in industrial and manufacturing sectors. Job rotation is an important safety tool, and can be used for all age groups in an effort to break up the monotonous nature of the work, avoid fatigue, and ultimately develop a well-rounded staff that can cover gaps as needed.

  1. Consider the intersection of technology, comfort and well-being. There are many low- and no-cost ideas that can make the workload more manageable for older employees. For example, in its Dingolfing, Germany plant, BMW hires older workers on an auto assembly line with accommodations for their age such as larger computer screens, special shoes, and chairs for some operations. And Microsoft offers an online Guide for Individuals with Age-Related Impairments, showing older workers how to create slower-moving pointers or magnified screen displays by adjusting their computer’s settings. Standard workstations can be improved with ergonomics in mind. Features like built-in back support in office chairs, standing desks, lighting created to minimize shadows and dark zones, and desks that are easily adjustable all contribute to employees’ comfort and minimize discomfort. On-site clinics save time and are geared toward prevention as well as early disease detection. Investing in the health of all employees through wellness programs is a timeless and ageless benefit and will contribute to productivity and reduce costs.
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  1. Promote an age-diverse business culture by recognizing and appreciating the skills/values of older workers. There are common misunderstanding and stereotypes with older employees that they are less efficient than their younger co-workers. However, from the Organisation for Economic Co-operation (OECD) in 2016 that the working proficiency (in both literacy and numeracy) of older employees is actually not significantly lower than their younger peers. In countries like the U.S., the proficiency of older workers is even at the same level as younger employees (see below charts). A follow-up study in 2018 by OECD indicated that older employees are more likely to involve in more complex tasks, such as supervise colleagues, have higher task discretion, use planning skills and influence others, which makes them as valuable assets as their younger co-workers. So it is important to promote an age-diverse business culture to appreciate the skills and value of older workers.
  1. Improve training against discrimination and negative attitudes to older workers on hiring, termination, compensation, and promotion. As risk management professionals, it is important to remind your organizations to review and improve the policy against discrimination and negative attitudes to older employees, in order to mitigate the potential legal risk. A 2013 AARP study indicated that “64% of U.S. workers have either experienced or observed age discrimination.” Given this background, in 2016, EEOC received 20,857 charges of age discrimination, which counted for more than 20% of all discrimination charges received by EEOC.

As the global working population continue to grow older, corporations around the world could expect to see more age discrimination litigations to come. Risk managers can play an important role by taking initiatives to help their organizations against discrimination and negative attitudes to older employees.

Several members of the RIMS International Council contributed to this article.

Six Tips For Risk Managers When Assessing Automation Hazards

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From a risk management perspective, one of the benefits of automation is that robots can play a significant role in reducing injuries when deployed to replace or support workers in high-hazard jobs, such as those involving high force and repetition. Yet, without appropriate risk assessments, their benefits can become skewed in other situations.

Unfortunately, many companies still make critical automation decisions without adequately engaging risk management, which can leave workers vulnerable to a new set of unanticipated workplace hazards. By some estimates, manufacturers will deploy 1.2 million new robots in the next decade; the expanding use of robotics may bring numerous new significant safety considerations along with a critical need for effective risk management.

As the trend toward greater automation gains momentum, here are six tips for risk managers to assess automation-related workplace hazards and help their organizations achieve the gains they envisioned with these major investments:

  1. Do not underestimate the value risk management brings to automation. Although automation is not new, companies still have much to learn about its effective deployment and implementation – especially in situations where the aim is increased productivity.
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     Risk managers need to be actively involved in assessing potential risks as automation purchasing decisions are made, as well as in planning and managing implementation, related employee training and post-implementation safety assessments and injury monitoring.

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  1. Initiate a dynamic dialogue. When the aim of investing in robotics and automation is specifically for productivity improvement, the starting point should be for risk and operations managers and safety/ergonomics experts to open a dialogue with workers in units designated for automation; they are much more flexible than robots and can offer insights on improving the workplace, reducing injuries and driving efficiency – either without significant investment or by focusing deployment of automation where it is likely to have the greatest impact.
  1. Focus on human factors with increased automation. As plants become more fully automated, the interface between the equipment and employees becomes increasingly significant. Historically, there has been an increased emphasis on automation, but an insufficient focus on the human interface. With more industries retooling plants and upgrading operations, the premium will be on the intelligent design of the next generation of facilities. It calls for the use of advanced tools, such as HumanCAD 3D, to analyze the impact of new equipment on human operators, production, and maintenance, as well as assessments from ergonomics and risk management professionals.
  1. Understand automation is not a panacea. Even the latest robotics may not address every issue, such as assembly tasks that require very fine motor skills, hand-eye coordination and higher-level thinking (such as complex assemblies, part orientation, inspection and precision fits). The automation of some tasks ultimately could require higher rates of repetition in the upper extremities of workers. In this case, ergonomic workstation design, scheduled breaks and worker feedback will be keys to prevent injuries and achieve gains in quality and productivity.
  1. Do not overlook worker demographics. Although automation may help all workers raise their productivity levels, implementation should account for the needs of an aging workforce. Businesses with multiple manufacturing facilities may have to refine workstations, signage, and lighting in areas with higher concentrations of older workers to achieve consistent productivity gains across all operations.
  1. Monitor potential worker safety issues with new product designs. Some forward-looking organizations are pushing for the application of design rules and human factors analysis to evaluate the “Design for Assembly and Ergonomics” (DFMAE) process. In these situations, product designers and advanced manufacturing equipment engineers collaborate with ergonomists to evaluate new product designs and the manufacturing equipment that goes with it. Until such approaches become widespread, it makes sense to check how new product designs might affect assembly workers.
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    Even slight adjustments in product design, manufacturing equipment or workstations can make the job easier and less stressful for employees without expensive robotics.

Investments in highly sophisticated equipment require thorough evaluation of all potential risks involving the interface between the equipment and employee. In some cases, operating equipment may expose workers to a range of injuries, such as repetitive motion issues. And high-speed mobile equipment can pose an outright danger on a factory floor without the delineation of designated “safety zones.” As key members of their organization’s automation team, risk managers play a critical role in anticipating and assessing exposures, developing remedies and facilitating success to ensure robots are working in collaboration with employees and not creating new, unanticipated risks.

Lack of Skilled Workers a Challenge Facing Construction Industry

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NASHVILLE—While a number of issues face the booming construction industry, one concern that has been discussed throughout the IRMI Construction Risk Conference here is the shortage of skilled workers. Projects are larger than ever, with technology and the global supply chain only adding to their complexity, making it even more difficult to find talent.

“The construction industry is absolutely in a war for talent,” said keynote speaker Dominic Casserley, chief executive officer of Willis Group Holdings. He cited a 2013 Willis survey that found 93% of respondents listed a “lack of skilled workers” as their biggest concern. He noted that many workers who left the construction industry during the financial crisis have since gained new skills in other areas and are not coming back.

An example, he said, is in his home, the United Kingdom, which decided in the last two years to return to building nuclear power stations. They had not done this for a number of decades and “quickly found that there were no engineers left. There was nobody capable of building a nuclear power station in the United Kingdom, so our new power station is being built by our great friends, the French. That’s what happens if you lose talent in an area of construction.”

Organizations are putting programs in place in the emerging markets to train talented resources “close to where the action is,” he said. Going forward, however, “We don’t see this challenge getting any easier.
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” Looking at millennials as a potential workforce, which represent 27% of the U.
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S. population, “you will see that they have some pretty interesting attitudes about work.”

Casserley noted that of millennials:

● four out of five feel they need to be recognized for their work and want regular feedback

● 72% would like to be their own boss

● 79% would like to have their boss serve as a coach or mentor

● 88% prefer a collaborative to a competitive work culture

● 88% want to integrate work and home life

● 74% want flexible work schedules

Asked how firms can bring millennials into their workforce and be flexible while still getting the job done, he said he views this as an opportunity for companies. “I think this is a very talented, aspirational, exciting generation.

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They are highly tech-savvy and have grown up in a global world.”

What employers will need to do, he said, is to “get their minds around how to harness that asset.” An interesting aspect about millennials, he noted, is their belief in having social value in what they do. “I can tell you, that for the generation entering the workforce today, that really matters. They want to work for a firm that means something to them so they can go home and feel proud of what they do.

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”

While all generations may feel this way, millennials are expressing it more openly. “And until you can get your mind around describing what [your industry] does and why it is important to the way the world goes around, I think we will struggle to attract and attain people, particularly that generation,” Casserley said, adding that if members of the industry don’t do this, “you are going to constantly lose people.”

Jack Gibson, president and CEO of the International Risk Management Institute (IRMI), agreed, noting that the construction industry is often viewed as a workplace where people are injured and the insurance industry is seen as a life insurance sales force. “Both industries do so much good, but we have not done a very good job of delivering that message,” he said. Gibson encouraged contractors to get involved in mentoring programs as well as the Insurance Industry Charitable Foundation (IICF), which has contributed more than million in local community grants and more than 155,000 hours of volunteer service.

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