Why You Need to Know About People Risk – Andrew Woolnough ¦ TPAP004

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Episode 4:

Why You Need to Know About People Risk

By analysing People Risk, HR can advise Finance and the CEO, and reduce company costs

 

This week, Max Blumberg chats with Andrew Woolnough of Willis Towers Watson about the different risks that are attached to individual employees, the increasing importance of quantifying and mitigating them, and the huge impact that data-based HR interventions can have on a company’s insurance costs – a major concern of the C-Suite in any large organisation.

 


The People Analytics Podcast provides weekly episodes of lively chat with David Green or Max Blumberg and a variety of HR and Analytics experts and leading practitioners, on all kinds of current and fascinating topics around data-driven HR, workforce planning and new technology.

Why You Need to Know About People Risk

 

In this week’s episode, Max Blumberg spoke with Andrew Woolnough (at the time, Value Proposition Director, Willis Towers Watson) about the concept of People Risk – what it means, what role HR needs to play, and why it is critically important for the finances of the business.

Risk is a huge business issue, and considering the financial commitment that a company makes to Reward, Training, Recruitment and other People-related costs, the financial implications of analysing and controlling People Risk are immense.

As an insurer, Willis have been working extensively in this area, and Andrew gives a behind-the-scenes look at what they are finding. He explains how a Risk- and data-savvy HR department can have a direct and significant impact on a company costs, which is a prime concern of the C-Suite.

Ideas covered this week:

  • What is People Risk?
  • Who owns People Risk?
  • Risk mapping: what stage is HR at?
  • How does cross-functional collaboration enable better People Risk management?
  • What do insurers look at when assessing People Risk?
  • The new research currently taking place at Willis Towers Watson
  • The role of Health & Safety, and how this is being redefined
  • The link between General Insurance and Employee Benefits Insurance
  • How to identify, analyse and mitigate People Risk at your organisation.
People Analytics Forum London 2016
people risk podcast

Andrew Woolnough

Value Proposition Director, Willis Towers Watson

LinkedIn profile

max blumberg dave ulrich

Max Blumberg

Executive Advisor to CIPD
Founder, Blumberg Partnership

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