Risk Assessment Playbook 

Risk Assessment Matrix: A risk assessment matrix is a tool that helps businesses to assess and prioritize risks based on their likelihood and potential impact. It can help a small business to identify the risks that are most important to address and to allocate resources accordingly. It is important for management to remain vigilant and proactive in identifying and managing risk factors to ensure the long-term success of the business. By taking these actions, management can effectively manage moderate risk factors and minimize their impact on the company, staff, and clients.

Steps:

1. Identify the hazards.
   1. Safety 
   2. Reputation 
   3. Financial 
   4. Liability
   5. Compliance
   6. Team Morale 
   7. Efficiency
2. Decide who/what might be harmed and how.
3. Evaluate the risks and decide on control measures. (See Levels 1-5)
4. Record your findings and implement them.

Level 5 (Danger)- 

In the case of a true emergency see Emergency Playbook

Defined: This is the highest risk factor that could cause serious and lasting consequences to the company including but not limited to serious financial risks, liability risks, and regulatory compliance risks.

Timeline: Requires immediate action. 

Questions to ask: Could this possibly result in the involvement of: 

• Police?
• Insurance? 
• OSHA? 
• Ambulance?

Action:  If this is an emergency requires 1st responders, call 911 or if the tech's physical or emotional well being is at stake, have them leave the job immediately. Next, call the owner on their personal cell phone 615-427-0451. Thoroughly document the issue including all people involved, exactly what happened, and a timeline. Contact the highest level of people involved. Resolve the issue as quickly as possible. Time is of the essence!

**Please note- The CEO must be contacted if any member of the office team is unexpectedly leaving early for the day. 

Level 4 (High)- 

Defined: High-risk factors include health safety risks, employee risks, client retention risks, reputation risks, and financial risks. To ensure success, we must identify and address these risks through planning, employee training, and risk management strategies.

Correlated to Scorecards ratings of 0-1. 

Timeline: This requires action within 3 business hours. 

Questions to ask:

• Could this result in a loss of income for the company?
  • Loss of a client?
  • Loss of revenue (refund)?  
• Could this result in the loss of staff?
• Is there a health or safety Issue?
• Could this negatively impact our reputation? 
• How can I turn this negative situation into a win?
• How can I reinforce trust with the company, client, and team?

Action: Call Operations. Operations will address the issue with both the client and the tech(s) involved and will notify the back office of the action taken. Decide if this is a situational issue or if this is a symptom of a larger root/systemic problem. If systemic issues document the solutions and plan of action. Update Policies and Procedures as necessary.  Discuss with the CEO at weekly 1-1 meetings. 

Level 3 (Moderate)- 

Defined: Moderate risk factors include equipment maintenance, time wasted, employee frustration, mild client complaints, and dependence effect referrals. These risks require attention and management through prevention and planning, training, and communication with employees and clients to ensure the success of the business. If not properly handled will rise to Level 4. 

Correlated to a Scorecards rating of 2. 

Timeline: This needs to be handled on the same business day or escalated more quickly if the situation allows.

Questions to be asked:

• If tech related, Is this an issue the tech can resolve themselves?
• What parties are involved and what is the best possible outcome that I am striving for?
• Does this issue need to be addressed immediately? 
• Does this require an immediate schedule change? 
• How can I resolve this efficiently and with as little disruption as possible? 
• How can I reinforce trust with the company, client, and team?

Action: Involve the Office Manager. Contact all necessary parties and document the action if applicable. Make necessary schedule changes. Decide if this is a situational issue or if this is a symptom of a larger root/systemic problem. If it is a systemic issue, document the solutions and plan of action. Update Policies and Procedures as necessary. Escalate if this issue is increasing in frequency or if a pattern is identified. 

Discuss with the Operations Manager at weekly level 10 meeting. 

Level 2 (Low)-

Defined: While these low-risk factors may not require as much attention as high or moderate-risk factors, it is still important to be aware of them and take appropriate measures to mitigate any potential risks. These risk factors can be identified as a mixed compliment/complaint, a mild disruption, or frustration for the client and/or team.

Correlated to a Scorecard's ratings of 3. 

Timeline: If an action is required, this needs to be addressed within 24 business hours. 

Questions to be asked:

• If tech related, Is this an issue the tech can resolve themselves?
• What parties are involved and what is the best possible outcome that I am striving for?
• How can I reinforce trust with the company, client, and team?
• Is this something that if left unattended could possibly escalate to a Level 3?
• What procedure do we have in place to handle this situation? 

Actions: CSR handle. Follow the procedure that is correlated with the particular issue. Contact all relevant parties and make necessary documentation.  Escalate if this issue is increasing in frequency or if a pattern is identified. Discuss with the Office manager Manager if necessary.

Level 1 (No risk)- 

Defined: A “No risk factor" could be considered to be a risk that has been identified and effectively mitigated to the point where it no longer poses a significant threat to the business. This could be achieved through effective risk management practices, ongoing monitoring, and continuous improvement of policies and procedures to ensure that potential risks are addressed before they become a significant threat. Keep in mind, acknowledging what we are doing well is just as important as addressing issues and concerns. 

Timeline: Praise immediately! If there is a reason to celebrate, do it loudly! 

Questions to be asked:

• Is this actually an issue? 
• Who needs to be acknowledged for this successful outcome?
• How can we reinforce more of this result?
• Am I taking a moment to acknowledge and celebrate the win within myself? 

Actions: Operations, Office Manager, and CSR. Be loud and proud about our accomplishments and wins. We have all worked really hard and need to celebrate!