Create Your Own Branded Risk Assessments
What is a Risk Assessment?
A Risk Assessment is the process of evaluating risks to workers’ health and safety to prevent occupational accidents and other workplace hazards. A hazard can be categorised as anything that has the potential to cause harm and can include work-related materials and/or equipment as well as work methods or practices. A risk assessment should take into consideration these factors:
- What could cause injury or harm or a potential accident, i.e. identify potential hazards?s
- Determine who might be harmed and how
- Evaluate the risks and work out whether the hazards can be avoided or eliminated.
- If the hazards cannot be eliminated, then what preventive or protective measures can be in place to control the risks and potential damage.
- Record the significant findings.
- Review the assessment regularly and update it if and when necessary
How is a Branded Risk Assessment different from a Risk Assessment?
A Branded Risk Assessment is a risk assessment specific to a particular brand, company, or business, and it includes strategic, operational, financial, regulatory, and legal practices, as well as occupational hazards. Brand risk evaluation and planning require a more strategic, integrated approach.
How to create your own Branded Risk Assessment: Internal and External factors
The key internal areas where brand risk is usually taken into consideration are:
- Poor quality in terms of manufacturing
- Poor customer service/ customer relations
The key external areas where brand risk is usually taken into consideration are:
- Consumer behaviour – boycotting the products or services of the company due to a change in product or a change in social values
- Capturing of retail space or buying out of stock by the competition
- Opposition to the brand – either by the community or due to political opposition
What are the benefits of having your own Branded Risk Assessments?
A brand risk assessment must ask the bigger question: What factors (internal and external) can or could affect the sustainability and survival of the brand? This provides a framework for analysing and minimising risks, which then supports proper planning and growth for a brand or business.
Some of the benefits of having your own branded risk assessment include:
- Risk assessments reduce the likelihood of workplace injury or accidents. Safety audits and regular inspections help businesses identify problem areas and work to improve them, preventing potential accidents.
- Risk assessments save your business money in the long run (if your company is sued after an accident or faces a health and safety negligence claim). Investing in a risk management system can prevent your business from spending thousands in financial, legal and/or internal costs.
- Effective risk management protects the company’s resources. If major accidental damage occurs, it could negatively affect the business’s overall operations and performance.
- Risk management improves company’s’s brand image. By having a risk assessment system in place, a company shows employees that it cares about their health, safety, and overall well-being. It shows them that they are a valuable business resource.
Is it easy to set up your own Branded Risk Assessment?
To stay compliant with Health and Safety rules and regulations, and to protect your brand or business from potential risks, it is crucial to have your own branded risk assessment. This helps cut through the confusion around Health and Safety rules and regulations and can be invaluable if you face a lawsuit.
Engaging a professional consultancy that specialises in risk assessment lets you focus on your business. Plus, they know the nitty-gritty and won’t leave anything to chance. Some consultancies also offer assessment schemes such as CHAS (The Contractors Health and Safety Assessment Scheme) and SSIP (Safety Schemes in Procurement), and have their own software to manage risk assessments better.
However, if you choose to do the risk assessment yourself, you could hire a consultancy to conduct the annual audits, oversee your risk management systems, and provide advice and support.
To set up a complete branded risk assessment for your business, it is important to take into account the following:
- Qualitative Risk Assessment
- Quantitative Risk Assessment
- Generic Risk Assessment
- Site-specific or Brand-specific Assessment
- Dynamic Risk Assessment
This will ensure you cover all aspects of assessment and cover all your bases.
Access our unique RAMs software to create, duplicate, download, and send your health and safety documents. Stored safely in the cloud, access them anytime.
Stay compliant, impress clients and win more business. Contact RAMs App today. We look forward to speaking to you.
