6. RISK Flashcards
Risk Management
The technique or profession of assessing, minimizing and preventing accidental loss to a business, as through the use of insurance, safety measures, etc. Risk can also refer to choices and decisions that are made taking into account upside as well as downside potential. Risk management has a significant impact on the organisation, its operations, and its employees.
Occupational Safety, Health, and Security
Name the Acts that are mostly associated with this
Mostly addressed through Acts: Occupational Safety and Health Act (OSH Act), 1970 Mine Safety and Health Act (MSHA), 1977 Drug-Free Workplace Act, 1988 Needlestick Safety and Prevention Act of 2000 USA Patriot Act, 2001 Homeland Security Act, 2002 Sarbanes-Oxley Act, 2002 FCRA- Credit
Occupational Safety and Health Act (OSHA)
Focused on actively promoting safe and healthy working conditions and workplaces. “To assure the safety and health of America’s workers by setting and enforcing standards; providing training, outreach, and education; establishing partnerships; and encouraging continual improvement in workplace safety and health.”
Fair Credit Reporting Act (FCRA), 1970
Passed with the intention of ensuring fair and accurate consumer reporting. Relevant to workforce planning and employment because some employers base hiring and promotion decisions, in part, on credit reports. Administered by the FTC.
Mine Safety and Health Act (MSHA)
For underground and surface workers in coal, as well as non-coal, mines. Inspections of mines are mandatory,
- 4 times a year for underground
- 2 times a year for surface mines
Drug-Free Workplace Act, 1988
Requires federal contractors ($100,000 or more) and individuals and orgs who are awarded grants (of any size) to agree to maintain a workplace free from drugs. Administered by DOL.
- Publish a statement notifying employees that the manufacture, distribution, dispensation, possession or use of a controlled substance in the workplace is prohibited. (must include consequences)
- Establish a Drug-free awareness program the dangers of drug use in the workplace, the employer’s drug-free policy (including consequences of violation), and info about programs that are available.
- Distribute copy of the workplace substance abuse policy to all employees.
- Employee must notify the employer of any criminal drug statute conviction for a violation occurring in the workplace no later than 5 days after the conviction
- Notifying the contracting agency within 10 days after receiving notice from an employee or otherwise receiving actual notice of a conviction
USA Patriot Act, 2001
Title 1: Enhancing Domestic Security Against Terrorists
Title 2: Enhanced Surveillance Procedures
Title 3: International Money Laudering Abatement and Anti-terrorist Financing Act of 2001.
Title 4: Protecting the Border
Title 5: Removing Obstacles to Investigating Terrorism
Title 6: Providing for victims of terrorism, public safety officers, and their families
Title 7: Increased info Sharing for Critical Infrastructure protection
Title 8: Strengthening Criminal laws against terrorism
Title 9: Improved Intelligence
Title 10: Miscellaneous
Sarbanes-Oxley Act, 2002
Mandates a number of reforms to increase corporate responsibility, expand financial disclosures, and combat corporate and accounting fraud. Created the Public Company Accounting Oversight Board (PCAOB), to oversee the activities of the auditing profession.
Work related illness
Defined as those resulting from an event or condition in the work environment that fall into any on of the following four categories; skin diseases or disorders, respiratory conditions, poisoning, hearing loss, or “all other illnesses.”
Work Related Injury
Work related injuries refer to any wound or damage to the body resulting from an event in the work environment.
OSHA coverage
OSH act defined it’s coverage as including “employees of an organization.” Smaller companies are NOT exempt.
- Family farms that do not employ anyone outside of the family are not covered under OSHA. Also:
- Self employed individuals
- State and Gov. employees
- Local gov. employees
- State and local are often covered by State-sponsored OSHA legislation
- Employees who work in specific industries (such as mining) that are covered by their own industry-specific laws are also exempt from OSHA.
General Duty Clause
-comes into play when there are no existing standards covering a particular job or industry.
EMPLOYERS must:
-ensure a safe workplace. as one that is “free from recognized hazards that are causing or are likely to cause death or serious physical harm to employees.”
-Comply with all current and future OSHA-related standards.
EMPLOYEES must:
-follow all safety and health-related rules stemming form the Act.
-Report hazardous conditions to their supervisor
-Immediately reporting any and all job-related injuries or illnesses to their employer
-Cooperating in the event of an OSHA inspection or investigation
Osha Poster 3165
Must be displayed in a conspicuous place that is easily visible to employees and applicants for employment-lists each employee’s rights.
OSHA Employer record-keeping rules, 2015
*Businesses of 10 or fewer employees are exempt, regardless of industry classification, from the requirement to routinely keep records.
- Employers have to report the following Severe Work Related issues to OSHA:
- All work-related fatalities
- All work-related inpatient hospitalisations of one or more employees, All work-related amputations, All work-related losses of an eye within 24-hours to OSHA.
- Must report work-related fatalities within 8 HOURS OF FINDING OUT ABOUT THEM
- Form 300A (incident report) held for 5 years following the year in which it occurred
- Exposure records must be maintained for 30 years, and medical records must be maintained for 30 years after the employee’s period of employment ends.
OSHA form 300
LOG of Work-related injuries and illnesses
- Used to record what, how, when, where and who
- Employer has 7 working days from the time it LEARNS of a work related injury or illness to record it on this form
OSHA form 300A
Summary of Work-related injuries or illnesses
- Employers use this to record a numeric summary of all work-related injuries and illnesses logged in OHSA’s Form 300 over the course of each calendar year.
- Form indicates number of cases, number of workdays impacted, and numbers and types of work-related injuries and illnesses.
- Each year, a completed Form 300 must be posted conspicuously for 3 months (btwn February 1 and April 30).
OSHA form 301
Injury and Illness Incident Report
- Must be completed for each work-related injury or illness within seven calendar days of the date on which the employer LEARNS of the work-related injury or illness.
- Completed forms must be maintained by the employer for 5 years following the year in which the incident or illness occurred.
Incidence rates
Worksheet/ formula is used to calculate incident rates. An employer would then compare its incidence rates to incidence rates for other employers of similar size or other employers in their industry.
