Below are the details of the operational risks covered within this selected sub-risk category:
Wrongful termination of employment
Wrongful termination of employment may lead to breach of one or more employment related laws. Examples of wrongful termination may include: -
Mass strike by employees
Employees may go on a mass strike resulting in disruption to operational processes. Examples of mass strike include: -
Harassment of employees by their managers or colleagues
Employees may be target of harassment by their managers or colleagues. Harassment may be physical (e.g. sexual harassment, violence) or mental (e.g. bullying). Examples of such harassment may also include:-
Discrimination of employees by their managers or colleagues
Employees may be target of discrimination by their managers or colleagues. Discrimination may be based on following factors: -
Improper disclosures or business practices during hiring of employees
Employees involved in hiring process may make improper disclosures or adopt improper business practices during the hiring process. Examples of such disclosures and practices may include: -
Inappropriate usage of information related to employees
Information related to employees may be inappropriately used without informing the employees or gaining their permission. Examples of such inappropriate use include: -
Structure or timing of compensation or rewards breaching legal or regulatory requirements
The structure or timing of compensation or rewards offered to employees may breach legal or regulatory requirements. Examples of such breaches may include: -
Delay in the recruitment of employees for positions considered key by regulators
Delay in the recruitment of employees for positions considered key by regulators may result in warning or action by regulators. Examples of such positions include: -
Employment agreements with other firms leading to antitrust warnings or actions
Employment agreements with other firms may result in antitrust warnings or actions. Examples of such agreements may include: -
Hiring employees who do not have legal rights to work in the country where they are hired or who are banned by regulators
Hiring employees who do not have legal rights to work in the country where they are hired, or who are banned by regulators - may result in breach of legal or regulatory obligations. Examples of such hiring include: -
Changes to employee job roles, where such changes may be considered unfair by employees or regulators.
Changes to job roles of an employee, where such changes may be considered unfair by employees or regulators. Examples of such changes may include:-