What is Behavioural Risk Management?
‘Behavioural Risk Management’ refers to the identification and mitigation of risks posed by the behaviour of the employees, how the decisions are made, how people communicate, etc.
Behavioural risk has a very negative impact on the productivity of a company and overcoming it might cost the company a lot in terms of time and money. Hence, it is advisable to undertake regular behavioural risk management to avoid the issue before it becomes a major headache for the organisation as a whole.
Negative behaviour leads to feeling stressed and uncomfortable at the workplace on an individual level. When a large number of employees start feeling the same, it might lead to attrition, demotivation, etc. This will eventually lead to a loss of productivity and company culture, leading to the company itself falling apart. Hence, behavioural risk management plays a pivotal role in the daily work of any organisation.