A systematic approach utilized by businesses and organizations to identify, evaluate, and lessen or eradicate potential threats or risks. This process is a crucial component of overall risk management strategies and is aimed at safeguarding assets, ensuring regulatory compliance, and maintaining business continuity.
In the context of managing a contingent workforce, risk mitigation becomes particularly important. Compliance partners like People2.0 play a vital role in this process by providing the necessary expertise and resources to help businesses navigate complex regulations, mitigate employment-related risks, and maintain operational efficiency.