Risk Managment
What is risk management?
The process of monitoring and addressing possible threats to an organization's assets and operations
What law sets child labor regulations in the U.S.
Fair Labor Standards Act (FLSA)
What does OSHA stand for
Occupational Safety and Health Administration
What is the purpose of well-being programs in the workplace
To improve employees' quality of life, productivity, and efficiency
What is a security audit?
A review of organizational security to assess risks
Name one of the three key questions asked in risk management.
"How likely is the threat to occur?" OR "How serious is the threat?" OR "What options do we have to reduce the impact?"
What is the largest fine ever given for a child labor violation, and who received it?
$2 million, Smithfield Foods
What are two key workplace safety standards enforced by OSHA?
Process Safety Management PSM, Personal Protective Equipment PPE
Name one way companies can support employees’ mental health
Employee Assistance Programs (EAPs), mental health services, stress reduction programs.
What percentage of data security is managerial vs. technical
80% managerial, 20% technical
What is the main purpose of effective safety programs in organizations
To prevent work-related injuries and accidents
What happens to a company’s workers' compensation insurance if it has a high accident rate?
They have higher premiums
Name two out of the five types of OSHA violations.
Imminent danger, serious, other-than-serious, de minimis, willful and repeated
What are two major health concerns companies should address
Obesity, smoking/vaping
What is workplace incivility
Rude behavior that offends employees.
Name two potential workplace threats related to security
Data breaches, terrorism, sabotage
What are the four major concerns in workplace safety regulations?
Workers' compensation, ADA safety issues, child labor laws, legal issues in work assignments
What are the three agencies created by the Occupational Safety and Health Act?
The Occupational Safety and Health Administration (OSHA), The National Institute for Occupational Safety and Health (NIOSH), The Occupational Safety and Health Review Commission
What are the three responses to burnout?
overwhelming exhaustion, cynicism/detachment, sense of ineffectiveness.
What are two signs of a potential workplace violence perpetrator
Aggressive behavior, excessive stress, prior threats
What three key areas does risk management cover?
Security, health & well-being, safety
How can companies reduce workers' compensation costs?
Focus on preventing injuries, have return-to-work plans, and conduct frequent safety meetings.
What is the incidence rate formula?
Number of illnesses/injuries × 200,000) ÷ employee hours worked.
What are the three levels of health promotion
Awareness, lifestyle modification, supportive environment
What fraction of employees have experienced workplace violence?
1/4