For the past two years, the COVID-19 pandemic has continued to disrupt supply chains around the world, reaching nearly every industry. With the recent Russian invasion of Ukraine, these supply chain problems have become increasingly more complex and are expected to take even longer to improve. In addition to the challenges presented by COVID-19, the Russian invasion has presented new disruptions to supply chains. The most severe vulnerability is the United States’ heavy reliance on Russia’s supply of natural gas and crude oil. In addition, both Russia and Ukraine provide the global market with key agricultural goods. In fact, according to the Food and Agriculture Organizations of the United Nations, Russia and Ukraine account for more than 25 percent of the world’s trade in wheat and 60 percent of global sun flower oil. Russia is also a major exporter of fertilizers and critical minerals. While these supply chain issues may seem unrelated to many businesses and organizations, the interconnectedness of economies is likely to cause supply chain disruptions that could take years to improve. As solutions are being developed to correct supply chain problems, there are some key improvements organizations can implement now in order to manage their own risks.

• Review risk management structures. Conduct a risk assessment around which supply chain disruptions are most likely to cause issues within your organization. This includes focusing risks to key commodities that are likely to influence or agitate your business practices. During the COVID-19 pandemic, many organizations failed to implement proper risk management tools. Risk management experts suggest creating, reviewing and implementing these processes sooner rather than later.
• Understand supply sources. Because supply chain systems are thought to be disrupted for the long-term, it’s important to look for alternate sources of supply. This could include identifying secondary sources to secure commodities necessary for your business. It’s also crucial for organizations to understand the impact of inflation and find ways to drive down costs to reflect these changes.
• Monitor and review logistics. Just as we witnessed during the height of the COVID-19 pandemic, many organizations are facing logistical disruptions. These include container shortages, long lead times, increased freight rates and transport congestion. Instead of improving, these problems have been made more complex with Russia’s invasion. In addition to rising oil prices, many freights and flights are being rerouted, causing longer wait times. Companies should continue to monitor these changes and exercise flexibility when it comes to logistics.
• Increase cybersecurity measures. Many of the world’s supply chains are now digital, which helps decrease traditional supply chain issues but also increases the risk of cyberattacks. Organizations should reinforce their cybersecurity measures and be aware of organized attacks that could put sensitive information at risk in the hands of bad actors.
• Plan your response. As supply chain disruptions continue, it’s important for organizations to review any implications affecting employees and contractual staff. Creating open channels of communication will allow leaders to engage with employees and vice versa. Because supply chains are being severely impacted by labor shortages, it’s crucial that organizations work to retain their staff with incentives and prime working conditions.     

Successful organizations will take steps to prevent supply chain disruptions from impacting their efficiency and productivity. In addition, leaders of these organizations should understand the longevity of these supply chain issues and implement processes that reflect these changes. Risk management teams around the world are working with organizations to help protect their employees and mitigate risk as supply chains continue to be affected by critical global events and crises. 

The COVID-19 pandemic caused an unprecedented increase in unemployment claims throughout the past two years. While these claims have tapered off, many organizations and individuals are suffering the consequences of insurance fraud. Generally speaking, unemployment insurance fraud refers to intentional withholding of information in order to receive unemployment benefits. Fraudulent claims can involve submitting false information, continuing to collect benefits while ineligible, or collecting full benefits while not reporting wages or income. Throughout the pandemic, there has been an uptick in fraudsters stealing the identity of a real employee and applying for insurance benefits under that person’s name. These fraudsters will often open bank accounts in the stolen name and receive the fraudulent claims. While the Department of Labor is actively trying to block fraudulent claims, employers play an important role in stopping unemployment benefits scams.

Employer’s Role in Combating Fraud

When a worker files an unemployment claim, the former employer is notified by the appropriate state agency. The first and most crucial step in preventing any fraudulent unemployment claims from taking place is to carefully review employee details and compensation information. Fraudulent activity can often be identified during this step of the process. In addition, employers should take the following steps to help combat fraudulent activity and protect their employees:

• Communicate with employees. According to the Federal Trade Commission, employers should alert their workforce in the event of any fraudulent activity. If an employee is a victim of this type of fraudulent activity, they should report them directly to the organization’s HR department. When reviewing unemployment claims received by the state, HR departments should flag any suspicious claims coming from current employees and alert the individual of any fraudulent activity related to their likeness. HR departments should also promptly report new hires to government agencies to ensure employment data is kept up-to-date.

• Report fraudulent claims. Each state unemployment benefits agency has their own set of guidelines for reporting fraud. Depending on your state’s guidelines, both the employee and employer may need to submit a fraud report. You can find your state’s guidelines here. Employers should help employees navigate any fraudulent claims and provide pertinent information such as the case number or any documentation concerning the fraudulent claim. If possible, employees and employers should submit their claims online to help speed up the process.

• Bolster your cybersecurity. Many organizations have adopted a work-from-home or hybrid working schedule for their employees since the start of the COVID-19 pandemic. While this has had its benefits for working individuals across the nation, it’s also presented security challenges for employers. Employers should consistently monitor their cybersecurity efforts as employees continue to access sensitive information from their homes. Instituting a VPN (virtual private network) and continually training employees on best practices will help decrease the risk of fraudulent activity, especially when it comes to unemployment claims.

• Provide employee resources. Fraudsters use personal information such as social security numbers and dates of birth to file unemployment claims. Because of this, employees are at risk of becoming victims of other fraudulent activities. It’s important that employers relay any resources and information to employees in the event of fraudulent activity. IdentityTheft.gov allows employees to report identify theft and helps them navigate recovery. This resource allows employees to place alerts on their credit, access free credit reports and monitor any accounts being opened in their name.

Ensuring Employee Safety

Employers must ensure employee information is protected and kept confidential at all times. Fraudulent unemployment claims and identity theft can have severe consequences on their victims. RiskVersity helps employers mitigate the risk of fraud and ensure employee information is kept safe. If it’s time to increase your security efforts, we’d love to talk to you about your options.

Paid time off is one of the most valued factors individuals consider when looking for employment opportunities. In fact, according to a survey conducted by Glassdoor, 4 in 5 employees want benefits or perks more than a pay raise. The good news for employers? Paid time off is one of the least expensive benefits when compared to health insurance and retirement plans. While most organizations agree that offering a generous PTO package helps recruit and retain employees, there is some discord about the way in which it’s offered.

There’s been a recent increase in the number of days people are taking off of work. On average, an American worker takes 17 days of paid vacation each year. While this is the largest number seen since 2013, it’s still not enough. In fact, nearly 768 million U.S. vacation days went unused in 2018. In theory, this might sound like an advantage for employers. However, unused vacation days present massive risks and hidden costs to organizations. According to a study conducted by Oxford Economics, American companies carry $224 billion in liabilities due to unused vacation time. In addition, employees who don’t utilize their vacation time are more at risk of burnout, which can lead to increased absenteeism, lower productivity and poor mental health. When employees don’t take time off of work—both physically and mentally—their performance pays the price.

To encourage employees to utilize their paid time off, many organizations are doing away with the old system of categorizing time off as “sick,” “vacation,” and “personal,” and instead opting to bundle them together. Streamlined PTO plans offer a variety of benefits to both the employee and the employer.

For employees, a streamlined PTO approach offers greater flexibility. Employees have the opportunity to make their own decisions with how they want to spend their days off. Whether they use it for vacation, illness, personal, or medical appointments, the decision is theirs to make. In addition, many employees find comfort in the privacy a streamlined PTO plan offers. Employees have the freedom to keep sensitive matters, such as family issues or private illnesses, to themselves rather than discussing it with their boss or supervisor. In addition, allowing employees to make their own decisions can help improve overall morale and trust within the workplace.

For employers, streamlined PTO policies have less administrative costs as all days off fall under the same category. Instead of tracking the reason for the time off, administrators can simply track the number of hours used. Employees are protected by the Americans with Disabilities Act, the Health Insurance Portability and Accountability Act (HIPPA), both of which set regulations on how employers can respond to employees’ health information. Because bundled PTO policies don’t categorize days off, employers are less likely to need information regarding reasons for an employee’s PTO request. Because employees have autonomy in how they use their PTO, most are less likely to take unplanned days off, resulting in less absenteeism for employers.

To help employees get the most out of the PTO benefit, employers should encourage their staff to take full advantage of their time off. This includes encouraging employees to fully “sign off” while on vacation, avoid contacting them, and approving PTO requests when used appropriately. Employees who use their PTO to support their physical and mental health are less likely to experience burnout and more likely to be efficient and effective in the workplace.

October 28, 2021

The American workforce is experiencing a labor shortage unlike anything we have seen since 1945, when workers across the country rebelled against the intense factory jobs that came from wartime efforts. Today, there are more than 8.4 million Americans out of work who are actively seeking employment—a number that falls short of the nearly 10 million open positions nationwide. 

The shortage of workers has many factors. Millions of Americans were laid off when the COVID-19 pandemic swept the nation, forcing many employers to cut back on expenses and minimize their employment rosters. As the country reopens, there remains a shortage of workers as many Americans are not returning to the same positions as prior to the pandemic or, in some cases, not returning to work at all. 

This mismatch of supply and demand in the American workforce puts employers and companies in a particularly vulnerable situation: prospective employees are in high demand and, as such, able to increase their expectations of the future employer and workplace culture. The pandemic, among other factors, has bolstered job-seekers ability to look for a perfect fit in their next position. For hourly workers, there’s a demand for increased pay and less grueling hours. In salaried positions, work-from-home flexibility is topping the charts as a new must-have. 

All of these factors lead to one conclusion: employers and workplaces need to be stronger than ever to attract and retain their workforce. The best and easiest way to continue operations is to retain the talent already employed in a company, which means the workplace culture needs to be at its prime. Understanding why your employees like their jobs and what they like about them is essential. 

Clearly defining a workplace culture can feel like a lofty goal, but our experts at RiskVersity can help. The first step is to better understand your existing workplace culture. Our experts can identify areas of weakness in your culture by looking at the red flags that emerge in places with poor cultures: employee absenteeism, when employees take a lot of time off that isn’t due to illness, and lack of employee engagement, when employees show up to simply do their job and don’t reflect ideal engagement with and belief in the company at-large.

Then, we help employers assess their current workplace culture by comparing it to their ideal workplace culture. Why are employees taking more time off than usual? Where are we seeing a lack in engagement? What, as the employer, would you prefer to see in your employees regarding engagement? Identifying the gaps between the two cultures—the present and the future--creates the pathway to developing a sustainable, attractive place to work. A healthy work environment will encourage existing employees to stay and also serve as a differentiator among competitors. 

At RiskVersity, we analyze your company’s risk in a multitude of ways, and one area of risk is always within the people you employ. Creating a working environment that cannot retain or attract a reliable workforce puts your operations, productivity, and bottom line at risk. The best method of solving this challenge is to put proactive measures in place, starting with and highlighting an exceptional workplace where employees feel valued and committed to the company and its goals.

Our experts can get you there. All you have to do is take the first step and contact us today.

The COVID-19 pandemic shed light on the struggles of working parents as schools closed and childcare opportunities dwindled. Many working parents were forced to juggle the responsibilities of watching their children while also fulfilling their job duties at the same time. For many parents, finding a balance was nearly impossible. 

 Even as schools have reopened and childcare is in full swing, the pandemic still has lingering effects on working families. For one, children are not yet vaccinated against the virus, which has resulted in unforeseen quarantine days and a scramble to line up child care. While many parents in the workforce embraced a physical return to the workplace, the convenience of working remotely is hard to replace. As Americans continue to reexamine their relationship with time, work, and family, employers are forced to do the same.

Creating Workplace Policies 

While the pandemic will end eventually, its effects will inevitably impact the workplace for the foreseeable future. Employers were forced to reevaluate their policies and procedures during the height of the pandemic, however, these same structures will need to be consistently reexamined as the ripple effects of the pandemic come to the surface. While the policies may change, employers should keep these factors in mind as they work to support their employees:

Focus on flexibility

As working parents continue to wade through the nuances of parenting and working during and after a pandemic, maintaining flexibility is key. For parents and non-parents alike, many individuals are having a difficult time reentering society after nearly a year of social isolation. Keeping this in mind, employers should prioritize flexibility in their policies. This may look like instituting a flexible work schedule, remote work policies, or starting unlimited PTO programs. 

Reframing the future 

It’s important for employers to consistently reevaluate their policies to fit the needs of their employees. The best organizations are ones that learn from experience. Instituting a feedback mechanism to learn from their employees can help promote a healthy workplace environment and nurture a happy and healthy staff. HR teams have created informal surveys and conducted town hall meetings to solicit employee feedback, which have helped employers learn how to effectively support employees. 

Ensure a supportive workplace 

Creating policies and procedures that work to support staff will work for most people, however, employers should be willing to accommodate employees on an as-needed basis. What works for most people may not work for others. HR teams must be willing to answer to working parents’ needs case by case. While over-accommodation isn’t necessary, responding with empathy and flexibility can go a long way in supporting one’s productivity and efficiency. 

Risk management teams across the country are beginning to see the real-life effects of the pandemic on employees throughout every industry. To support employees, especially working parents, risk management teams have encouraged employers to respond with empathy while creating concrete policies that promote a healthy work/life balance and ultimately create more productive and effective employees. 

As many organizations and their employees shifted to working from home in the midst of the COVID-19 pandemic, most maintained high levels of productivity, while also having the flexibility to care for their families and themselves throughout the crisis. However, new research suggests that working remotely makes it difficult to set work-life boundaries. In fact, a survey conducted by the Los Angeles-based staffing firm, Robert Half, reported that “nearly 70 percent of professionals who transitioned to remote work due to the pandemic now say they work on the weekends, and 45 percent of remote employees reported working more than eight hours a day as they did pre-pandemic.” With the ability to log-in wherever and whenever and a greater demand on a smaller workforce, many remote and hybrid employees are finding themselves overworked and headed for burnout. While more hours clocked might seem like a benefit to an organization, overworked employees actually pose a security risk to the organization and to their colleagues. 

Risks of Overworked Employees 

While teams across many industries find themselves overworked, the State of Cybersecurity 2021 report finds that 61 percent of IT teams are understaffed. In general, exhausted people are more likely to make mistakes that have ripple effects felt across their organization. Tired people have slower reaction times, reduced awareness and experience deficits when it comes to information processing and sound decision making.  In addition, for understaffed industries, a larger task list means less time to think strategically, ultimately causing the organization to continually play catch-up. In addition to security risks, overworked employees also present a number of hazards in the workplace:

• Behavioral changes. Both chronic stress and insomnia can negatively impact one’s mood, causing friction within the workplace. As sleep-deprived employees operate with higher levels of cortisol, workplace morale and sound decision-making can be at risk. 
• Illness. Stress can weaken our immune system, making it easier to catch seasonal illnesses. When overworked employees come to work, especially now as many organizations continue to adopt a hybrid work schedule, they put other colleagues at risk. 
• Physical distress. Sitting too long at the computer or desk, wearing headphones all day, or experiencing chronic, long-term stress is detrimental to one’s overall health. Overworked individuals are at an increased risk of heart attack, stroke, depression, and back, vision and hearing issues. While this is harmful on an individual level, it can also add up to a catastrophic loss for an organization when it comes to insurance claims and health benefits. 

Workplace Solutions for Overworked Employees 

While organizations can work to properly staff their teams and monitor staffing hours, the ultimate solution to preventing burnout among teams comes from healthy leadership. By having programs that promote wellness and work-life balance, organizations set their teams up for success and avoid security risks. By providing gyms, childcare, good insurance policies and even wellness courses, organizations actively show their employees they care about their wellbeing. 

In addition, organizations can play an active role in helping employees set work-life boundaries by monitoring their hours. While it may seem granular, assigning hours, intentionally scheduling less in-person or zoom meetings when appropriate and being mindful of extra work activities can help employees learn how to set boundaries for themselves. Allowing employees to truly unplug during vacation time and providing productivity tools, such as task timers, will help prevent burnout and create a team that is more efficient and effective. The pandemic has been hard for organizations across all industries. RiskVersity can help your organization identify opportunities for improvement, starting with overworked teams. To learn more about our offerings, please contact us.

In the 2019 article “Coming home: Why veterans with disabilities withhold workplace accommodation requests,” RiskVersity’s own Jeanne Holmes and her co-authors of the paper explored an often silent group of individuals: veterans with disabilities in the workplace.

The research team of Drs. Katerina Gonzalez, C. Justice Tillman, and Jeanne J Holmes spent several months exploring the experiences of veterans with disabilities who were looking for employment. With the support of RecruitMilitary and the DAV, the authors attended RecruitMilitary job fairs and spoke to veterans with disabilities about their experiences in the civilian workplace. This under-studied group of individuals faces a multitude of barriers in today’s working environments. Some of the barriers are well documented, like the need to accommodate in work environments physical disabilities of all individuals including veterans. Other barriers are not quite as obvious to employers, or even the working community at-large.

A summary of the academic literature summarized and contextualized the paper’s findings in a white paper, covering specific topics such as:

• Veterans in the Workplace: By the Numbers
• Competing Stereotypes of Veterans
• Making the Invisible Visible
• The Role of Inclusivity in Veteran Safety
• How to Create a Fully Inclusive Environment for Military Veterans with Disabilities
• Action Items for Employers

In the wake of the COVID-19 crisis, recommendations by health authorities caused both personal and professional travel to suddenly stop, causing a reduction in travel by nearly 90 percent compared to the previous year. The Global Business Travel Association, the world’s largest business travel association, predicts business travel spending won’t fully recover from the COVID-19 pandemic until 2025. However, GBTA does forecast a slight growth of 21 percent in business travel spending for 2021. While organizations prepare to resume business travel, either now or in the months to come, it will be crucial for business success to create a plan that manages travel risks.  

We can expect to see long-term safety measures such as temperature checks, social distancing and personal hygiene standards, mobile self-service tools, and standards of cleanliness for airlines to stay in place for the long haul. However, it’s up to organizations to create a safety plan that allows employees to mitigate travel risks while also protecting business opportunities. 

Creating a Safety Plan for Business Travel 

As organizations create their own custom plans, it’s important to reflect on current and potential changes as the COVID-19 pandemic continues to evolve. Risk management experts suggest businesses use the following factors to assess the risk of traveling for the long-term. 

Reassess what is essential 

RiskVersity suggests reassessing which trips are deemed essential and placing multiple approval points within the organization. In a pre-COVID-19 world, travel managers or department heads would be responsible for signing off on business travel. Now, however, it’s important that more people are involved in the decision-making process, including those who will be traveling. As travelers continue to face safety risks, the priority should remain on meeting employees’ needs and well-being. 

Conduct destination evaluations

When a business trip is deemed essential, it’s important to consider the risks that come with it including: accessibility of medical care in the event of an outbreak, whether the traveler is at high risk for severe illness, bans and travel restrictions at the destination, and the overall security and safety of the traveler. 

Create safety protocols at every touchpoint

The COVID-19 pandemic has reinforced the importance of assessing safety at each point of the trip—from the airport and taxi to the hotel and meeting room. Organizations must try to review safety measures being taken at each stage of the trip. This means hotel accommodations must be as safe as transportation options, or else the risk has not been managed well. 

Return from travel 

Organizations should have screening protocols put into place for employees returning from business trips and clearly communicate these expectations. Employers should also understand that any perception of discrimination against traveling employees could discourage others from traveling. It’s important for businesses to demonstrate their commitment to employees’ safety while also providing a sense of confidence when it comes to business travel.  

Our team recommends that  organizations begin implementing travel risk management strategies now, so they are well positioned when travel needs begin to increase. By following the guidelines above and continually addressing the safety and health concerns of employees, organizations will be better equipped for travel in the future. If you’re ready to start mitigating risk for your own traveling employees, our team at RiskVersity is ready to help.