Compliance & Safety Processes Refined: Work Wallet

Understanding when you need a risk assessment is vital to protecting your workforce, ensuring legal compliance, and maintaining operational efficiency. At Work Wallet, we provide intuitive, scalable software designed to guide businesses through the entire risk assessment process—from initial identification through implementation, review, and documentation.

Based in Derby and supporting businesses globally, our platform enables you to take a proactive and structured approach to health and safety.

When Do You Need a Risk Assessment?

You need a risk assessment whenever your business activities present a health, safety, or wellbeing risk to your employees, contractors, visitors, or the general public.

Common scenarios include:

• Starting a new project or introducing new equipment
• Changing processes, layouts, or procedures
• Using hazardous substances
• Employing new staff or contractors unfamiliar with the environment
• Following an accident or near-miss
• As part of routine safety audits or legal compliance reviews

Under the Management of Health and Safety at Work Regulations, risk assessments are a legal requirement for all employers and self-employed individuals.

What is a Risk Assessment?

A risk assessment is a structured method of identifying hazards, evaluating the associated risks, and implementing measures to control or eliminate them. This process helps businesses to:

• Prevent harm and injury
• Reduce downtime and disruption
• Demonstrate compliance with legislation
• Promote a culture of safety and accountability
• Avoid enforcement action and financial penalties

With Work Wallet, this process becomes streamlined, consistent, and easy to manage, even across multiple sites or teams, thanks to our risk assessment software.

Who Should Carry Out a Risk Assessment?

An employer or a competent person must conduct risk assessments — someone with the relevant skills, knowledge, and experience to assess risks effectively.

Our software supports your in-house teams with a clear framework for completing and managing assessments. If additional support is required, Work Wallet can provide access to competent advisors to help guide the process and ensure regulatory compliance.

The Five Steps to Completing a Risk Assessment

Whether you are unsure when you need a risk assessment or are preparing to carry one out, the Health and Safety Executive (HSE) recommends following these five key steps:

Identify Hazards

Examine all activities, processes, and areas to highlight anything that may cause harm — including physical, chemical, biological, ergonomic, or organisational risks.

Assess the Risks

Determine who may be affected, how likely the harm will occur, and how severe the consequences could be. Consider current controls and what more may be needed.

Control the Risks

Introduce measures to reduce or eliminate the risks where reasonably practicable — such as process changes, staff training, engineering controls, or PPE.

Record Your Findings

If you employ five or more people, you are legally required to keep a written record of significant findings. Work Wallet enables secure and accessible digital documentation.

Review and Update

Risk assessments must be reviewed regularly; significantly when processes change, incidents occur, or new risks emerge. Our risk assessment software platform helps schedule and manage these reviews.

Ongoing Compliance and Support

Completing a risk assessment is not a one-off exercise. Businesses must ensure that safety measures are implemented, monitored, and adjusted as required.

Work Wallet's platform keeps your assessments live and actionable, providing:

• Notifications for review dates and outstanding actions
• Centralised access to records and controls
• Integration with broader health and safety tools
• Support for training, audits, and incident reporting

Our advisors are also available to support your business competently and personally, offering practical, cost-effective guidance aligned with your operations.

Why Choose Work Wallet?

• Trusted Globally, Rooted in the UK – Headquartered in Derby, trusted by businesses worldwide
• Scalable, User-Friendly Software – Suitable for small businesses to large multi-site operations
• Expert-Led Support – Access to health and safety specialists when needed
• Flexible Pricing – Tailored packages to meet your compliance and operational needs

Talk to Us Today

If you're unsure when you need a risk assessment or want to improve how you manage them, Work Wallet are here to help.

Contact us to request a demonstration or speak to one of our experts.

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