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ctor. The earnings through employment in stronger currency countries like US, Canada, UK, Europe etc., on conversion to weaker local currencies of developing countries increases their wealth manifold. Such a phenomenon of migration for employment occurs mainly in developing countries where their local currencies are weak.

Political Risk:
Political risk can be (a) internal or (b) external.

Internal Political Risk:
Formation of groups within an organization based on age, sex, culture, race, religion, language etc., or discrimination positioned on the above mentioned segments can raise internal political activity detrimental to the health and interest of an organization.

External Political Risk:
Political parties through their pressure groups or local and national governments represented by political parties may interfere through regulatory modifications, strictures, mandates, changing legal framework, trade unions etc., and it can be a source of external political risk.

Ambiguity Risk:
Ambiguity has a built-in character of uncertainty about the possibilities. Ambiguity in the rules and regulations governing manpower entails susceptibility to legal recourse in cases of contention. If an organization deliberately keeps a part or whole of its personnel rules ambiguous with an intention of having either a reign of terror, or favouring few or punishing and penalizing some, a time will come to witness many litigations in a court of law or attrition of skilled manpower coupled with damage to its corporate image.

13. Coordination Risk: 协调风险：

All business functions have differently skilled personnel in its various departments. At times a single event can trigger a chain of complex risk product affecting manpower in more than one or two functional areas. This poses a greater challenge to manpower risk managers. In such cases, an HR risk manager probably cannot have an integrated risk management mechanism. Rather, functional area based HR risk management and at the same time ensuring a well coordinated risk resolving approach can be the answer.

Measurement of Risk in Human Resource Management

After identifying the risk and analysing the causes (e.g., attrition, communication, coordination, and retention etc., outlined in the aforesaid paragraphs), an HR risk manager has to develop risk measuring tools. Such risk measurement in the HR field can be quantitative or qualitative or both depending on the nature of risks identified. Risk measurement is transformation of factual statements into numerical data to the extent possible and resorting to qualitative measurement where quantification is not possible.

Conclusion 结论

Risk management is an essential ingredient for the commercial well-being of all organizations and all functional areas within an organization, including human resources. Risk analysis helps and aids in mitigation if not elimination of risk and uncertainty do visit and revisit in any set-up. It is the preparedness to accept and act, rather than reject and repent.

A successful organization anticipates and handles risk, while absence of such anticipation and handling makes an organization extinct. Failure to pick-up warning signals of risk, results in unpreparedness to handle risk leading to disaster.

Aversion to risk, ignorance of risk