The Importance of Workforce Risk Mitigation: A CFO’s Perspective

Workforce risks – or malicious threats stemming from people within the organization that may involve fraud, theft of confidential information or intellectual property, or the sabotage of computer systems – is just some of the type of risks that can have a profoundly negative impact on an organization. This can include financial harm, loss of customer loyalty, loss of brand value, reputational damage, and even human tragedy. Workforce risk mitigation involves multiple layers, however, and involves security-driven processes, procedures, and safeguards, as well as maintaining constant vigilance by HR, legal/compliance, corporate security, and risk management teams, says Jeff Byal, CFO for Appriss Inc. According to Byal, 12 percent of the workforce is likely to be arrested over the next five years and 20 percent over the next seven, statistics that have the potential to equate to harmful events that could destroy a business and/or endanger its employees. Byal suggests that continuous workforce monitoring helps employers facilitate a safer work environment, but it is important to work through legal hurdles and policies and procedures prior to implementation.


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Post By Ken Shafton (2,354 Posts)