Whether you’re signing a lease agreement or a multi-million-dollar service agreement for new software, contracts are a fact of life in any business. A contract review requires diligence and an eye for detail. Managing expectations, focusing on outcomes and getting the key information from vendors can also help achieve better outcomes in contract management.
When it comes to a data security breach, it isn’t as much a matter of if it will happen as when. Technology is a double-edged sword. The technology your company relies on to conduct its business can also significantly increase its vulnerability to cyber security threats—any of which can result in significant out-of-pocket and reputational costs that can devastate your bottom line.
In many instances, “near misses” are often taken lightly and sometimes even result in laughs or workplace jokes. An employee stumbles over something in a walkway but does not actually fall. Laughter erupts from nearby employees who observe the scene – something reminiscent of a sitcom television show. This may seem like a harmless or even comical situation; however, consider the same stumble but, this time, the individual falls to the floor and strikes his/her head, resulting in a brain injury. Suddenly no one is laughing.
The use of the words “near miss” may produce a sigh of relief (or even a chuckle) while the words “near hit” can elicit a more serious and thoughtful response. A near hit is when something occurs, but due to chance, circumstance, inches or seconds, no one gets hurt or no damage is incurred. While a loss is avoided, just as much can be learned from a near hit as from an actual occurrence.
Earlier this year, the Virginia legislature unanimously passed a very productive piece of legislation that will hopefully create new opportunities for contractors who may have previously been excluded from bidding on state work. The legislation, House Bill 1108, was a culmination of years of work by many organizations and various delegates and is a great example of bipartisan cooperation to improve business practices in the state.
The bill amended the Code of Virginia to prohibit the use of the Experience Modification Rating Factor, commonly referred to as an Experience Mod, as a condition of bidding for work.
I recently heard a quote from a Safety Director for a client with nationwide operations in a business where taking risks occurs daily. He said, “People don’t quit jobs … people quit people.” This philosophy has driven a commitment to continuous improvement and investment in people; a commitment that has drastically impacted the company’s risk management strategy.
Just like most companies, this client cannot afford a habit of workplace accidents. Their end-clients operate in one of the most compliance-based industries, and their ability to win opportunities is heavily based on their risk management efforts. The footprint of their operations and the complex, deadline-driven nature of their industry create significant safety challenges. In spite of these challenges, they have developed a remarkably safe organization. How? Their strong leadership and a people-centric culture have been the key. Their management and safety leaders are coaches, not enforcers.