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Jul 2010

Reporting and managing risk

This report summarises case studies on risk management practices at four major organisations: Tesco, Royal Bank of Scotland (RBS), Birmingham City Council and the Department for Culture, Media and Sport (DCMS).

The companies studied in this project made great efforts to link specific HR policies with organisational performance. In all six cases, HR managers and management accountants were working closely together to develop strategic plans and annual budgets. In four of the cases, they also developed performance related bonus schemes in close collaboration and were involved in frequent communication on decision making. Through interviews with executives in each of the six cases, the researchers found five areas of HR policy that were cited as having an impact on organisational performance, namely: recruitment, training, job for life, teamwork and organizational culture.

Both private and public sector organisations have to meet the needs of an increasingly diverse range of stakeholders. That means risk is no longer treated solely as a financial calculation.

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Reporting and managing risk