Most times when we talk about Risk Management, we focus on the enterprise risks – those risks that impact our company.
Personal risks are as important as corporate risks because people are one of the most important corporate assets that must be protected & continually improved.
Companies have direct responsibility for identifying, assessing, treating, reporting and monitoring people’s risks, but personal risks are direct responsibility of the individuals.
Charity begins at home.
Good corporate risk management should start by the individuals demonstrating knowledge of personal risk management principles & practices.
Your name, physical & mental wellness, safety, finances, career, families & relationships are part of your critical personal assets. Any event that can cause a loss or damage or improvement to the value of your personal assets is a personal risk.
The value of the material assets you own are good, but the true value of your reputation is mostly determined by the perceptions around your name.
In this era of social media, the pressure & enthusiasm for one to be crowned a celebrity in social media journalism is very high & leading to high probability of denting one’s name in the mud by just clicking Share, Copy Paste, Repost or Forward icon on someone else’s post.
Compliance to social media laws, regulations & standards is a must, but what I’m talking about here is beyond regulatory compliance and accuracy or validity of the post. It’s about avoiding personal embarrassments even when compliance have met.
Recently, a well-respected personality shared a repost with an interesting professional caption written by another well-known responsible blogger to an enclosed professional social media forum.
On reading the repost, discoveries were made of embarrassing advert message inserts & URL links that were not part of the original blog post. but were copied along with the repost without knowing.
The individual that made the repost was quickly notified & Platform Admin quickly deleted the repost.
Yes, explanations were made & repost deleted but the embarrassment cost has been incurred.
No one is immune to this mistake.
The lesson learnt is
Quick Tips for managing personal risks:
1. Build awareness of your personal risks – identify & understand them.
2. Analyze the identified risks to know the sources, characteristics & triggers.
3. Measure the qualitative & quantitative sizes by gauging likelihood of occurrence, velocity & potential impact,
4. Interpret results by benchmarking with your personal priorities – your life purposes, needs, wants, interests, dislikes, values, principles, abilities & tolerance limits.
5. Make sound judgements and take actions to protect & improve your tangible & intangible assets.
6. Monitor changes & effect necessary improvements to stay in shape.
