Risk Management

Risk management these days is an essential part of good corporate governance. You don’t have to be a Fortune-500 company to want to (or need to) manage your risks. You just have to want to stay in business and be profitable.

With the continued rising costs of doing business, not just in the core sense, but as to ancillary costs like insurance, risk management can make the difference between being profitable and not.

Areas in which all companies should be looking to manage risks include:

• Case in focus: GC implemented employment manuals, arbitration agreements, revised all contracts and audited all corporate policies. As a result, Company saved over 50% on insurance premiums at the time of renewal due to lowered risk assessment by the insurance company.

  Revising all contracts to include provisions for mandatory binding arbitration;
• Revising all contracts to include provisions for attorneys’ fees;
• Maintaining an updated employee manual (revised every six months)
• Entering into employment contracts with all employees expressly acknowledging their "at-will" status;
• Obtaining FCRA waivers from employees for investigations;
• Establishing valid anti-sexual harassment policies with reporting procedure.

With GC’s risk management program in place, all of these and more are addressed, for a more secure future with realized savings today.

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