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Risk: Skill gaps and inadequate succession planning leading to decreased productivity.
Impact: Revenue: -10%, Profit: -15% due to unfulfilled roles and missed performance targets.
Solution: Implement a Talent Management System like Workday; conduct regular skill assessments.
Benefits: Improved productivity, enhanced professional standing, reputation for robust talent management.
Risk: High turnover rates and inability to attract top talent increasing operational costs.
Impact: Revenue: -8%, Profit: -12% due to recruitment costs and productivity loss.
Solution: Utilize LinkedIn for targeted recruitment; offer competitive benefits.
Benefits: Lower turnover rates, reduced recruitment costs, improved employer branding.
Risk: Low morale and decreased productivity.
Impact: Revenue: -6%, Profit: -8% due to decreased output and absenteeism.
Solution: Implement regular feedback sessions; utilize platforms like Bonusly for recognition.
Benefits: Increased productivity, enhanced employee satisfaction, improved employer reputation.
Risk: Conflicting objectives and decreased organizational effectiveness.
Impact: Revenue: -5%, Profit: -7% due to misdirected efforts and missed targets.
Solution: Utilize OKRs to align goals; communicate organizational objectives clearly.
Benefits: Improved alignment, enhanced organizational performance, strengthened strategic reputation.
Risk: Lack of leadership growth hindering decision-making.
Impact: Revenue: -4%, Profit: -6% due to poor decision-making and lack of innovation.
Solution: Establish leadership development programs; partner with institutions for executive training.
Benefits: Enhanced leadership capabilities, better decision-making, reputation for nurturing leaders.
Risk: Poor performance evaluation and decreased productivity.
Impact: Revenue: -4%, Profit: -5% due to demotivated employees and productivity loss.
Solution: Deploy a robust performance management system like Performance Pro.
Benefits: Improved performance, higher employee morale, reputation for fair performance evaluation.
Risk: Limited innovation and potential discrimination issues.
Impact: Revenue: -3%, Profit: -5% due to lack of innovation and potential legal claims.
Solution: Conduct unconscious bias training; promote inclusivity.
Benefits: Increased innovation, reduced discrimination claims, improved inclusivity reputation.
Risk: Skill gaps affecting competitiveness.
Impact: Revenue: -3%, Profit: -4% due to lack of skilled workforce.
Solution: Establish continuous learning programs; incentivize skill development.
Benefits: Up-skilled workforce, improved competitiveness, enhanced development reputation.
Risk: Legal penalties and reputational damage.
Impact: Revenue: -2%, Profit: -4% due to fines and legal fees.
Solution: Engage legal advisory for compliance checks; conduct regular compliance training.
Benefits: Reduced legal risks, avoided fines, improved compliance reputation.
Risk: Staffing imbalances affecting operational efficiency.
Impact: Revenue: -2%, Profit: -3% due to overstaffing or understaffing.
Solution: Utilize workforce planning tools like Workforce Ready by Kronos.
Benefits: Optimized staffing, improved operational efficiency, enhanced workforce management reputation.