Issue 3 2020

Issue 3 2020 7 Highlighting Opportunities to Manage the Damage Manage Damage is a risk advisory firm with a difference. The firm applies a financial approach to solve non-financial risks to give business boards and senior leaders greater visibility to the true cost of damage. Founder and Managing Director, Jillian Hamilton, speaks candidly about the firm. Manage Damage was founded by Jillian Hamilton, an executive who’s proven 10+ year track record, has saved millions of dollars of workers’ compensation and associated damage costs for some of the largest companies. Jillian’s expertise and experience led her to found Manage Damage and activate a philosophy and methodology, Risk Dollarisation®, to bring about transformational change to a sector where there is little incentive for service providers to reduce business costs. She tells us more. “Manage Damage works with Boards, CEOs, CFOs and other senior leaders to drive efficiency, productivity and profitability by dollarising a business’s risk portfolio. It is able to create an environment where non-financial risk is converted into dollar terms to enable management to more easily address the complex interplay of these factors within a business and reduce associated costs. “Our method provides senior management with risk information in language they understand – we convert non-financial data into a financial context to enable businesses to see where issues lie and where true associated costs are located. “By assessing a company’s risk portfolio via the cost of damage they are able to better manage and reduce, the costs associated with risk. We provide complete visibility of true damage costs and highlight the opportunities to manage the damage. Our unique approach to ‘dollarising’ risk reduces the cost of damage and the negative impact on the bottom-line. “To provide ongoing visibility, accountability and measurement to this area of risk across the entire business we developed MetricDriver ® , a powerful process that uses the philosophy of Risk Dollarisation ® .” Manage Damage’s success is largely due to its unique approach to risk advisory. Jillian tells us more about the firm’s ethos and what sets it aside from competitors. “At Manage Damage, we think that businesses are missing an opportunity to capture the costs of damage as they would any other item of business. Widening the conversation around business costs to everyday activities means you can start to manage safety risk like you would any other costs in your business. “Let’s be clear: This approach is not about valuing or devaluing workers or humans and human life. This is about revaluing and valuation of an aspect of business that suffers due to a complete lack of cognitive discussion and a lack of the acumen that is applied to all other parts of a business. “Let’s also be clear that each person who works at a business is valued. Today, you are costed at your business and you are part of a line item in a budget (plus certain salary, tax, pensions/ superannuation and insurance components that are paid). “At Manage Damage, we think that, if you don’t treat safety and other Non-Financial Risks like you would any other costs in a business, you Feb20245 lose the opportunity to manage these costs like you would any other. “Money talks. When you start talking about the costs of safety, people listen. They listen when it is in the newspaper, that is, when it’s far too late. Let’s capture attention before incidents and workplace disasters. Let’s follow the money and listen to where our business risk truly lies. “The reason we created Risk Dollarisation® is that “value” is a subjective amount unless listed and people have different views on the “value” of safety. “We have applied a simple commercial approach to this novel valuation, which means that safety can now be properly costed in the universal language of business.” However, Jillian is also quick to praise the efforts of her dedicated team. “People drive all our activities. The best people drive our best advice to our customers. Regarding recruitment, people come to us. We also seek people specifically for their style of work and skillset. The financial acumen is so rare in our field it is very rare to find our unicorns.” Company: Manage Damage Web Address: www.managedamage.com