A solid risk management process can be the key to business success, and risk mitigation can start with Casmax competency management.
As we’ve seen over the past year, individuals aren’t always very good at evaluating risks in their own lives. Even everyday activities can have an element of risk associated with them, from getting behind the wheel of a car to getting vaccinated. We all need a framework within which to understand risk, so we can make the best decisions in each circumstance. Risk assessments sit at the heart of health and safety culture, especially when actions taken can affect others. And more often than not, it’s the way that you mitigate risks that sets you apart in the corporate world. In pressure situations, having properly trained and experienced people is the best way to achieve this. Here at Sysmax, we know the importance of focusing on risk management where individuals’ decisions can have business-critical consequences. In this blog, we’re looking at how companies can integrate a risk assessment approach to establish competency management.
Start with a risk assessment, but move further
Assessing and managing risks is part of everyday life in every company. There are various aspects to making sure that you’ve got sound risk management in place to protect your position. It’s critical to demonstrate that the processes meet legislative standards for bodies such as the UK’s Health & Safety Executive (HSE) and Department for Business, Energy and Industrial Strategy (BEIS). It’s essential to be able to demonstrate to potential new clients that you can evaluate risks to implement projects properly. It assists in promoting good decision-making throughout the business. And of course, it’s vital for shareholder accountability too.
As a start, businesses will often take a two-dimensional approach to risk assessment. Analysing risks must always take into account the probability of a risk event and the severity of its impact. In some sectors these impacts can be critical on the environment and the broader economy; in others, it can literally be a matter of life and death. But however serious risk events may be, businesses must crucially look at taking steps to mitigate the risks. And one key element in establishing these mitigation strategies is the human resources available.
Take a four-dimensional approach to risk management
When so much is at stake, it’s vital for businesses to have a reliable tool to assess and manage the competency of their staff. With Casmax, they’ve got a powerful, four-dimensional tool that works for them. We assess an individual on four axes: core technical activity statements, business process experience, confidence and date last used. The system identifies development needs if there are discrepancies between an individual’s experience, skills and confidence. And the system can be used company-wide, as different skillsets can be measured for each team.
Casmax makes sure that the right information gets through to the right people in the business. It also ensures that the assessment is based on the individual’s skills, and not their relationship with their supervisor. Companies can look in granular detail at individuals, how a team fits together, and aggregate skillsets across locations, regions, or globally. This will help to satisfy inspecting authorities that personnel are competent to perform their duties. It will ensure stakeholder security, however risky the sector they’re involved in.
What’s more, we can assure our clients that using our products won’t add to their risk management woes. We take data protection and information security very seriously, and our systems are all ISO 27001-compliant.
To find out more about deploying Casmax and other Sysmax products to improve risk management processes, contact one of the team today.
Post by John Skelton, Product & Quality Manager
As well as leading our information security protocols, John has overall responsibility for development and continuous improvement of Casmax. He built the dynamic four-dimensional reporting interface to minimise time and cost to clients using the system. John also developed the advanced search facility within Casmax to enable clients to identify key skills within an organisation, and the asset/role based Swiss Cheese reporting system.