What are Risk Management metrics? Finding the right Risk Management metrics can seem daunting, particularly when you're focused on your daily workload. For this reason, we've compiled a selection of examples to fuel your inspiration.
Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.
Find Risk Management metrics with AI While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.
Examples of Risk Management metrics and KPIs 1. Case Resolution Time The average time taken to resolve individual cases from initiation to closure
What good looks like for this metric: 3-6 months
Ideas to improve this metric Establish clear procedures for case handling Use automated systems for case tracking Enhance communication between involved parties Provide regular training for case managers Regularly review unresolved cases to identify bottlenecks 2. Success Rate of Resolutions The percentage of cases resolved without escalation or legal proceedings
What good looks like for this metric: 70-85%
Ideas to improve this metric Invest in training for negotiation skills Implement mediation before litigation Track and analyse unsuccessful cases for improvements Establish a collaborative problem-solving approach Regularly update dispute resolution policies 3. Number of Cases Per Employee The average number of IR & CCMA cases managed per employee
What good looks like for this metric: 1-3 cases per year
Ideas to improve this metric Allocate dedicated case managers Ensure balanced distribution of cases Monitor individual case manager workloads Implement preventative measures to reduce cases Offer support services to employees to prevent issues 4. Employee Satisfaction with Resolution Process A measure of how satisfied employees are with the case resolution process
What good looks like for this metric: 80% satisfaction
Ideas to improve this metric Conduct regular surveys post-resolution Incorporate feedback into process improvement Enhance transparency of the process Provide clear communication throughout the process Offer employee support services during the process 5. Cost of Resolution Per Case The average cost incurred by the company per resolved case
What good looks like for this metric: $500-$2,000
Ideas to improve this metric Reduce legal costs through internal mediation Implement cost-effective dispute resolution methods Analyse high-cost cases for learning Use technology to streamline processes Negotiate vendor contracts for better rates
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1. Number of Legal Proceedings This measures the total number of legal actions such as labour disputes initiated or pending in the organisation
What good looks like for this metric: Fewer than 5 cases annually
Ideas to improve this metric Enhance employee training on company policies Conduct regular audits of HR policies to ensure compliance Implement early resolution programs Increase communication between HR and employees Regularly review and update risk management strategies 2. Settlement Amounts Tracks total monetary value spent on settlements in dispute cases
What good looks like for this metric: Less than $10,000 annually
Ideas to improve this metric Evaluate alternative dispute resolution methods Review settlement negotiation strategies Enhance legal team expertise Improve early detection systems for disputes Train management on effective negotiation 3. Dispute Resolution Time Average time taken to resolve disputes through IR or CCMA
What good looks like for this metric: Less than 60 days
Ideas to improve this metric Implement a standardised dispute resolution process Increase prioritisation of cases Streamline administrative procedures Facilitate better access to mediation services Enhance resource allocation for resolution teams 4. Compliance Rate Percentage of policies and procedures in line with legal standards
What good looks like for this metric: Over 95%
Ideas to improve this metric Regularly update compliance training for staff Schedule frequent compliance reviews Implement a compliance management system Establish a dedicated compliance team Monitor changes in legal requirements 5. Employee Grievance Rate Number of grievances raised by employees per year
What good looks like for this metric: Less than 2 grievances per 100 employees
Ideas to improve this metric Create open channels for communication Enhance feedback mechanisms Provide conflict resolution workshops Increase transparency in policy implementation Recognise and address root causes of grievances
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1. Compliance Rate Measures the percentage of compliance with legal and regulatory requirements
What good looks like for this metric: 95% compliance
Ideas to improve this metric Conduct regular compliance audits Implement automated compliance software Provide staff with compliance training Ensure clear documentation of policies Stay updated with regulatory changes 2. Risk Assessment Frequency Tracks how often risk assessments are performed to identify and address potential issues
What good looks like for this metric: Quarterly assessments
Ideas to improve this metric Schedule regular risk assessment reviews Involve cross-functional teams in assessments Adopt a risk management framework Use risk assessment software tools Prioritise risks based on impact and likelihood 3. Internal Audit Findings Evaluates the number of issues found during internal audits
What good looks like for this metric: Less than 5 per audit
Ideas to improve this metric Conduct thorough training for audit staff Use technology to streamline audits Regularly review and update audit criteria Encourage open communication around audit results Implement corrective actions promptly 4. Policy Violation Incidents Counts the number of times company policies are violated
What good looks like for this metric: Fewer than 10 incidents annually
Ideas to improve this metric Increase awareness of company policies Introduce stricter enforcement measures Provide regular training on company policies Encourage reporting of violations anonymously Review and update policies regularly 5. Third-Party Compliance Rate Measures the extent to which third-party partners comply with company standards
What good looks like for this metric: 90% compliance
Ideas to improve this metric Regularly audit third-party vendors Include compliance requirements in contracts Develop a trusted vendor program Provide training for third-party partners Monitor third-party compliance continuously
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Tracking your Risk Management metrics Having a plan is one thing, sticking to it is another.
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.
A tool like Tability can also help you by combining AI and goal-setting to keep you on track.
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Planning resources OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:
Tability's check-ins will save you hours and increase transparency
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