By identifying and mitigating risks, businesses can reduce the likelihood of accidents and injuries, which can lead to significant financial and reputational costs. 

What is a risk assessment? 

A health and safety risk assessment is a process of identifying and evaluating the risks to people’s health and safety in a workplace. It involves identifying hazards, assessing the likelihood of harm occurring, and taking steps to control the risks. 

Why risk assessments are important for business 

Risk assessments are important for business for several reasons. First, they are a legal requirement in many countries. Second, they can help businesses to: 

• Reduce the likelihood of accidents and injuries 
• Improve employee morale and productivity 
• Demonstrate their commitment to health and safety to customers and other stakeholders 
• Reduce the cost of insurance premiums 
• Avoid fines and other penalties from regulators 

How to conduct a risk assessment 

The process of conducting a health and safety risk assessment can be broken down into the following steps: 

• Identify hazards. This involves looking for anything that could cause harm to people, such as machinery, chemicals, electrical equipment, and manual handling tasks. 
• Assess the risks. This involves considering the likelihood of harm occurring and the severity of the harm if it does occur. 
• Evaluate the existing controls. This involves looking at the steps that are already in place to control the risks. 
• Identify additional controls. If the existing controls are not sufficient, additional controls need to be identified and implemented. 
• Record the findings. The findings of the risk assessment should be recorded in a document so that they can be reviewed and updated regularly. 

How to use risk assessments to improve business performance 

Risk assessments can be used to improve business performance in several ways. For example, businesses can use risk assessments to: 

• Identify and address the root causes of accidents and injuries. 
• Develop and implement effective health and safety training programs. 
• Improve the design of workplaces and equipment. 
• Select and use safe work practices and procedures. 
• Monitor and review their health and safety performance. 

Examples of how businesses have used risk assessments to improve their performance 

Outlined below are examples of how businesses have used health and safety risk assessments to improve their performance: 

• A manufacturing company used a risk assessment to identify a hazard associated with a piece of machinery. The company implemented a new control measure to reduce the risk, which resulted in a significant reduction in the number of accidents involving the machinery. 
• A construction company used a risk assessment to identify the risks associated with a new project. The company developed a detailed safety plan to mitigate the risks, which resulted in the project being completed without any accidents or injuries. 
• A retail company used a risk assessment to identify the risks associated with manual handling tasks. The company implemented new training and equipment to reduce the risks, which resulted in a decrease in the number of musculoskeletal injuries among employees. 

Additional tips for using risk assessments to improve business performance: 

• Ensure that risk assessments are conducted regularly and that the findings are reviewed and updated. 
• Involve employees in the risk assessment process. Employees are often the best people to identify hazards and suggest controls. 
• Use the findings of risk assessments to develop and implement effective health and safety training programs. 
• Monitor and review the implementation and effectiveness of controls. 

By following these tips, businesses can use health and safety risk assessments to create a safe and healthy workplace that supports their business goals. 

The iProtectU health and safety software provides: 

• An inspection and Audit App which allows for safety inspection of the workplace and associated report 
• eLearning on a wide range of EHS topics, which cover risk assessment 
• Scheduling functionality for managers to send eLearning, risk assessments and documents out to all staff via the software with tracks completion and compliance 
• Risk assessment templates covering a wide range of EHS topics 
• Management system to document control the policy on risk assessment 
• Method Statement module for the creation of working instructions 
• Legal register that provides legislation guidance on risk assessment 
• Incident investigation module that tracks incidents both with an app and via desktop 
• Hazard observation app where staff can report and record any concerns to the organisation 
• Asset management App ensuring assets are recorded in the software