Social risk management development in Lithuania

Abstract

Purpose – The purpose of the article is to analyse and discuss the development of the social risk management in the Lithuania, as a kind of social innovation, which leads to long run increases in the wealth of nation. Design/methodology/approach – Article use general scientific methods, especially analysis, synthesis, comparison, induction and deduction. Essential sources of information were professional publications, data of state Statistics Department and Eurostat, Ministry of Social Security and Labour documents Findings – Findings of this article are new social innovation information in this area, which can be useful for another research. Social protection is shifting towards social risk management. Effective social risk management in the Lithuania is essential for promoting sustainable Lithuanian economic development. It discusses the main methods of social risk management (SRM), social risk management process. Disclose the importance of SRM and problems in Lithuania. SRM enable to support social innovation in the fields of social inclusion and employment. Research limitations/implications – Article demonstrates the social risk management problems under uncertainty conditions, difficulties in the social risk assessment in digital form. The article deals with Lithuania Ministry of Social Security and Labour, how it planning and use social risk management. Where the SRM successfully installed, where there are still problematic. Practical implications – In this paper presented methods and procedures applicable to the social risk management process in the Lithuania. Article identifies areas requiring of social risk management improvement or new methods, to insure integration of social risk groups, promotion of equal opportunities, social integration, reduce of social exclusion. Originality/Value – The article deals with a wide range of innovative activities in terms of social risk management.