Risk Mitigation Essential to Preventing Accidents
Aug 02, 2016
Companies seeking to hire new contractors or suppliers may be eager to hire a partner and begin new projects, but they should not let their anticipation get in the way of proper risk mitigation strategies. Any business contracting work to another firm should always ensure steps are taken to avoid any compliance issues or worker health and safety problems that may result from its partner's current practices. Having a screening program in place can reduce some of the risks associated with hiring a new contractor or supplier and keep a company from being associated with a noncompliant firm.
Without a consistent contractor screening process, a hiring company may be unable to determine if its potential partners have had previous compliance problems or failed to implement proper safety procedures. Even if a company has previously worked with a contractor or supplier, it might be a good idea to conduct an updated check prior to rehiring the firm. Government regulations or hiring company standards may have changed since a business last worked with a contractor, making it important to get the most up-to-date information possible.
Even when a contractor or supplier is cleared to work for a hiring company, both firms should still work to ensure that all regulatory requirements are met. A hiring business may find it useful to provide training on new regulations and help its partner implement procedures or policies in line with the latest rules. Hiring company standards regarding worker safety, sustainability, and sourcing may change as companies update policies or commit to corporate social responsibility, making it important for a business to provide its contractors and suppliers with updated guidelines whenever they are altered.