Which of the following actions can help manage risk?

Training employees on safety procedures is an effective way to manage risk because it equips staff with the necessary knowledge and skills to handle potential hazards in the workplace. By understanding safety protocols, employees can reduce the likelihood of accidents or injuries occurring, which minimizes both personal risk and the company's potential liability. Properly trained employees are better prepared to respond to emergencies, recognize unsafe conditions, and adhere to best practices, which collectively contribute to a safer work environment.

In contrast, offering incentives for risk-taking might encourage reckless behavior, ignoring training needs can lead to unpreparedness and increased vulnerability to accidents, while discontinuing insurance policies exposes the business to greater financial risk in case of unforeseen events. Therefore, fostering a culture of safety through education and training is a proactive approach in risk management.