Employee-Related Risk
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An Employee-Related Risk is a business risk that involves employees.
- Example(s):
- See: Business Insurance, Internal Business Controls, Employee Fidelity.
References
2020
- https://www.trisura.com/the-types-of-employee-risk-you-cannot-afford-to-overlook/
- QUOTE: ... As companies develop their risk management plans, there are certain types of employee risk that should never be overlooked. Every company knows that people are its greatest assets. It’s true. Your people possess the ideas, skills and enthusiasm that will make your company successful. Employing people and managing teams also introduces employee risk to the company’s overall operations. It’s not pleasant to think that your own employees could threaten the company’s interests, but it’s the reality of the modern business environment and it must be part of a sound risk management plan. Specifically, there are two types of business employee risk that need to be considered.
- Fidelity: In the workplace, fidelity refers to losses caused by fraudulent acts perpetrated by individuals. (Yes, we’re talking about crimes). …
2019
- https://treasurytoday.com/funding-and-investing/alternative-funding/employee-risk
- QUOTE: Rogue traders. Data theft. Disgruntled employees. There are many ways in which an individual’s behaviour can threaten a company’s operations and damage its reputation. We discuss the different types of employee risk that a company may face and consider how these risks can be managed. ... Put simply, the term employee risk covers all the things that a company employee can do, whether intended or not, which can damage the employer’s business in some way. ...
... Staff fraud comes in many forms, from straightforward theft, for example through submission of inflated expense claims, to opportunistic crimes where a procedural loophole or a weakness in the company’s systems is exploited for personal gain.
- QUOTE: Rogue traders. Data theft. Disgruntled employees. There are many ways in which an individual’s behaviour can threaten a company’s operations and damage its reputation. We discuss the different types of employee risk that a company may face and consider how these risks can be managed. ... Put simply, the term employee risk covers all the things that a company employee can do, whether intended or not, which can damage the employer’s business in some way. ...