Mitigating Organizational Risk with Closed Captioning
As a business owner or content creator, it’s important to understand the potential risks your organization faces. One major area of risk is the possibility of discrimination lawsuits due to inaccessible content. This can be especially true for videos and multimedia content not accompanied by closed captioning.
To mitigate this risk, it’s essential to understand the four arms of organizational risk: operational, financial, strategic, and reputational. Closed captioning can help address all four of these areas of risk.
Operational Risk: Closed Captioning and Compliance
Operational risk refers to the risk of loss due to inadequate or failed internal processes, people, or systems. One example of operational risk is the risk of lawsuits due to noncompliance with accessibility laws. Closed captioning can help mitigate this risk by ensuring your organization is in compliance with accessibility regulations such as the Americans with Disabilities Act (ADA) and the Rehabilitation Act. By providing closed captioning, you’re making sure your content is accessible to people who are deaf or hard of hearing, which is required by law.
Financial Risk: Closed Captioning and Increased Revenue
Financial risk refers to the risk of loss due to financial factors such as market conditions, credit risk, or interest rates. Closed captioning can help mitigate this risk by increasing revenue. By providing closed captioning, you’re making your content accessible to a wider audience, which can increase your viewership and revenue. Additionally, closed captioning can improve search engine optimization (SEO), making your content more discoverable online.
Strategic Risk: Closed Captioning and Improved User Experience
Strategic risk refers to the risk of loss due to inadequate or failed strategic planning. One example of strategic risk is the risk of losing customers due to a poor user experience. Closed captioning can help mitigate this risk by improving the user experience for people who are deaf or hard of hearing. By providing closed captioning, you’re making your content more inclusive and accessible, which can help retain customers and build brand loyalty.
Reputational Risk: Closed Captioning and Corporate Social Responsibility
Reputational risk refers to the risk of loss due to damage to an organization’s reputation or brand. One example of reputational risk is the risk of negative publicity due to perceived discrimination or exclusion. Closed captioning can help mitigate this risk by demonstrating your organization’s commitment to corporate social responsibility (CSR). By providing closed captioning, you’re demonstrating that your organization values inclusivity and accessibility for all, which can improve your brand’s reputation and perception in the public eye.
Closed captioning is a powerful tool for mitigating organizational risk. By addressing operational, financial, strategic, and reputational risks, closed captioning can help your organization comply with accessibility regulations, increase revenue, improve the user experience, and demonstrate a commitment to corporate social responsibility.
If you’re ready to take advantage of the benefits of closed captioning, CaptionLabs can help. We offer high-quality closed captioning services for businesses and content creators across various industries. Contact us today to request a quote and learn more about how closed captioning can benefit your content and organization.
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