Deloitte: HR needs to focus on people-related risk

By Rob Starr, Content Manager, Big4.com

According to professional services firm Deloitte. HR functions now need to adjust their own priorities as people risk rises on the corporate agenda. In the global report   “Humans Capital trends 2012: Leap ahead”,  Deloitte highlights how  forward-thinking HR functions are partnering with core risk functions such as Risk, Legal and Internal Audit, to identify, prioritise and monitor people-related risks. The report identified several practical implications that HR functions can now adopt.

These include:

Take the lead on managing human capital risks. This requires a team within HR to focus on human capital risks throughout the business as well as  creating a risk mind-set for day-to-day HR activities. Leading organisations are ensuring HR and risk management work together to create a single set of practical and risk intelligent processes.

Nicky Wakefield, Deloitte Consulting’s National Leader of Human Capital, believes Australian leaders should be better leveraging their HR Partners to help manage their key people related risks more effectively.

“Leading organisations are increasingly engaging their HR leaders to help them manage risks across the entire spectrum of risk-related activities, from strategy and planning to operations and compliance,” she says.