As we talk about strategy; trusted advising, tables, and other inspiring reasons to do HR; it makes sense to remind ourselves that we also need to do the old fashion basics. Compliance, transactions, operations, oversight, are all foundational HR functions. HR manages risk – sometimes it’s cool I’m-so-smart-risk. Sometimes it’s not-so-cool, I-classified-the-jobs-right risk.
Morgan Stanley To Pay $50M To Settle Overtime Suit (Wall Street Journal July 14, 2008)
2 Comments, Comment or Ping
My personal favorite risk management technique is the:
“I bit my tongue because unhappy plan participants are more likely to find some entrepreneurial lawyer to sue you and even though you may be completely in the right it will still cost you $50k to defend yourself or settle.”
Customer Service (simply being polite, courteous and helpful) = risk management
July 16th, 2008
That is a heckuva lesson. Like…wow. A million here and a million there…
July 20th, 2008
Reply to “That’s A Lot Of Money”