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Risk Managers Stand Tall In Shrinking Economy

Not only are most risk management departments being spared substantial cutbacks despite the deep contraction in corporate America, but the overwhelming majority of risk managers ...

By Staff Writer | Updated on April 22, 2010
David-GoliathNot only are most risk management departments being spared substantial cutbacks despite the deep contraction in corporate America, but the overwhelming majority of risk managers are happy in their jobs even in these challenging times, an exclusive survey by Logic Associates and National Underwriter has revealed.

Indeed, 83.3 percent of the 287 risk managers responding to the “2010 Risk Management Compensation Survey” said there have been no layoffs in their departments over the past 12 months. At the same time, 90.6 percent said their staff has not been expanded in the last year, either.

In addition, despite the tough economy, 44.4 percent described themselves as “very satisfied” with their jobs, with another 50 percent saying they are simply “satisfied.” Only 5.6 percent characterized themselves as “dissatisfied” with their current positions.

“It’s very heartening to hear that 83 percent have experienced no layoffs in their risk management departments,” said Bill Perry, president of Logic Associates, the long-time executive recruitment firm for risk managers, based in New York. “A lot of that has to do with the fact that cutting risk management today would be like cutting off your nose to spite your face.”

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