Download free excel template for Risk Register of Human Resources Management. This template is useful for enterprise risk managers, risk consultants, operation managers, HR managers, HR Partners, HR Consultants, HR Leaders, People Managers and business leaders. This is a free to download and easy to use template. Human Resources Risk Register helps in enterprise risk management by aligning all the risks associated with Human Resources and People relevant risks.
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About Human Resources Risk Register Excel Template
If we talk about HR Risk Management, it involves identification, assessment and implementation of risk response plan for risks and threats associated with an organization’s human capital and HR Practises. This excel template for risk register has adequate columns and fields to capture all the relevant information that can impact Human Captial in an organization and draft an adequate risk response plan.
You can update the following information in this risk register excel template for Human resources risk management;
- Risk ID to keep track on the number of risks identified and considered as a part of human capital risk management.
- Risk description helps to update the brief summary of the risk so that anyone can understand the underlying risk statement.
- Source is useful to identify the primary contributing factors for the risk.
- Impact description captures what will happen if risk is not mitigated or eliminated ?
- Recurance helps to understand if the risk is ongoing or one time. Also, depending upon the geography, industry nature, company size – this will vary for any type of risk.
- Impact Level, Probability Level and Priority Level measures the High to Low parameters of the risk in the human capital of an organization, also helps to assign probability of occurance and priority of the risk description.
- Control measures that already exist in the process of the corporate or business that can address the risk.
- Owners are risk champions who are responsible for mitigation strategy.
- Target closing date is a date defined by Enterprise risk management team for closure of risk mitigation.
You can add more fields and columns in this template. This template helps you in getting started. Risk registers in HR department helps in strategic human resources management.
Examples of Human Resources Risk
Now, let us understand the idea of Human Resources risk management with the help of few examples;
Legal Compliance Risk
For example, in any organization there can be an underlying risk about legal and compliances. A good risk response plan for this can be, conducting regular audits of HR policies and practices. This helps to ensure compliance with federal, state, and local labor laws, such as minimum wage laws, overtime regulations, and anti-discrimination statutes.
Employee Turnover Risk
Higher attrition rates and higher employee turnover risk is a very well known risk in almost every risk register of the organizations. To draft risk response plan, organizations can implement process of identifying high turnover areas or positions within the organization. And implementing retention strategies such as career development programs, competitive compensation packages, or flexible work arrangements.
Download and use Human Resources Risk Register Excel template
To use this free excel Human Resources Risk Register template, you should have Microsoft Office/ Microsoft Excel installed in your system.
Once extracted, you can open the file using Excel and start entering data or customizing the template.