The start of a New Year offers an opportunity for a fresh start, a chance to re-affirm a commitment. On a personal level, it can be a time to start the diet again, commit to kicking a bad habit or start a good one. Even in our professional lives, there is no better time than the start of a new year to make a resolution to improve risk management efforts.

In our ailing economy, many businesses may have cut back on their training efforts, wellness programs, or environmental management resources. Some health and safety professional believe too, that employees – fearful for their job security – have not reported injuries or unsafe working conditions. According to 2008 Bureau of Labor Statistic (BLS) data, fatal work injuries dropped by more than 10 percent. Even the BLS noted that some of this decline can be attributed to decline in business activities brought on by the recession, especially within the construction industry.

Recently, however, a Government Accountability Office (G.A.O.) report noted that there may be other reasons for this decline – ne being fewer workers because of the current unemployment rate. Another serious implication cited by the reporter was the widespread underreporting of worker injuries – both by employees and employers.

• Boost employee training initiatives: Any employee's action or inaction can become a liability. Therefore, training employees in everything from how to use a fire extinguisher to how to react in case of an emergency can help keep a risk more contained. For any company that requires its employees to drive as part of the job, implementing a safe driver training program is an investment in not only employees' professional development but in reducing potential commercial auto liability claims. Insurance companies are a good source in finding available employee training to help control specific day-to-day operational risks.
• Be a more diligent record keeper: No one likes more paperwork but there are many reasons why a renewed pledge to documentation is a worthwhile resolution. Documenting employee training programs, for one, may demonstrate to your insurance company, OSHA and others that your business is serious about safety. Documentation in many instances can demonstrate your company's standard of care, roles and responsibilities, or legal obligations in the event of a claim or other litigation.
• Vow to always look for Improvements: Risk management is an on-going process and doing it effectively requires dedication to continuously seeking ways to improve processes that can either eliminate risks or minimize the potential exposure. Do you rely on environmental management and quality systems that result in continuous improvement year after year? View the seasonal or economic slow down as an opportunity to revisit your policies, procedures, and guidelines to ensure that they embrace best management practices.
• Plan to plan: For many companies, spill prevention, control and countermeasure (SPCC), stormwater pollution prevention (SPP), and other emergency response plans are an essential part of risk management plans. If you don't already have them in place, get them in place. Developing emergency response plans can lessen potential financial and environmental impacts.
• Be prepared: Despite the best precautions, accidents do happen to even the most diligent companies. This means that businesses need to be in a constant state of readiness for any potential incident. It's wise to know, or pre-qualify contractors or other service providers you may need to call on for help in an emergency situation. If something happens, you also want to know that your insurer's claims staff is well prepared to handle your situation.
• Communicate more effectively: Communication has many benefits and plays an important role in risk management. The breakdown of communications presents a whole host of risks to a company, affecting employees, shareholders, government agencies and customers. Sometimes even the smallest communication can make a big difference in preventing a problem or dispute down the line.
• Listen Better: Feedback, for instance, can encourage good behavior and result in a more motivated staff. Enlisting employee feedback is also another way to keep day-to-day operations running as safely and effectively as possible. Employees can provide valuable insight to improving process safety and field safety programs.
• Think sustainability: Develop a sustainability plan for your company that will improve your bottom line, while protecting the environment and enhancing your corporate social responsibility. Focus on issues such as material, energy, and water consumption, waste generation and recycling, land use, green building construction/retrofits, transportation practices, product stewardship and public policies.
• Look at the big picture: Integrate risk management into strategic planning, operations management, and internal controls via a comprehensive enterprise risk management program. This holistic approach to understanding, managing, and capitalizing on your operational and business risks can assist a company in reaching their growth and profitability goals by creating an atmosphere of enhanced communication and more effective and efficient decision making.
• Identify emerging risks: What are the next key liability issues for your firm? Identify and learn more about exposures and controls that have the potential to impact your operations. These areas may be focused on specific issues such as new regulations or liabilities associated with chemicals or products, or include broader issues such as nanotechnology or climate change/greenhouse gas emissions. Review your risk management strategies to make sure you are managing these new risks and seizing the opportunities to capitalize on them.
• Learn more about your insurance coverage: Too many businesses pay an insurance premium and never fully understand the details of their insurance protection. Every business should be familiar with the terms and conditions of its insurance policies and how its coverages will work in various situations.

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