Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Risk managers can boost equity, bottom line: Keynote

Reprints
Michael C. Bush

SAN FRANCISCO — When risk managers are effective, it adds to the bottom line, attendees heard during Monday’s opening keynote of the Risk and Insurance Management Society Inc.’s Riskworld conference.

Michael C. Bush, CEO of analytics company Great Place To Work Inc., said in his keynote address that risk managers do important work in building trust and equity within an organization and can also provide a “helpful hand” in assisting organizations to take risk and convert it to earnings.

“Organizations that are great at having trusted partners and collaborations with their risk teams do better financially,” Mr. Bush said.          

Citing his own experience of working with a risk team, Mr. Bush said it’s important to create trust within an organization and that applies to the risk management function.

“When you’re effective, you know when you have a high-trust relationship with your colleagues in your organization and with senior leaders in the organization,” he said. Without trust, friction develops, he said.

Creating an equitable work environment, one where people look forward to coming to work, is especially important now due to the Great Resignation, Mr. Bush said.

“When you’re trying to work on treating people in a certain way, when you’re a leader thinking about your companies – it’s great for people and for business,” he said.

Mr. Bush cited data from FTSE Russell that showed the stock performance of companies that are certified as a great place to work is around 10% higher than that of companies that are not.