DECLASSIFIEDInsights |Risk Management
It is well recognised that effective risk management is based on a combination of good leadership and employee engagement.
All businesses should aspire to foster a positive risk management culture within their organisation, as part of risk management strategy. The issue is how do you go about creating a positive culture? There is no single solution, but there are a number of key factors that contribute towards achieving the right outcome.
Organisations with a positive culture are characterised by a process of open communication and sharing information within an environment of mutual trust that enables issues to be discussed thoroughly in order to serve the best interests of the company.
Put simply, risk management works best when employees are empowered to speak up and take action when they believe there is something they need to raise.
Your own employees can put your organisation at risk in many ways, as security threats are not always external. The greatest risks often come from within an organisation. Even wellmeaning employees can unintentionally open an unsolicited email and with the click of a link jeopardise the security of the company’s IT system.
In an era of increasing technological complexity, the threats of hacking and cyber crime, the cost of adverse incidents and ever-greater regulatory scrutiny, the effective management of employee risk can reduce the overall risk faced by an organisation. If well managed, it can provide the business with a competitive edge.
There is no perfect solution, but you can follow some practical steps to instilling the right culture and strategy for risk management within your enterprise:
Your employees are at the core of your business; daily operations, customer interactions, online interactions, decision making – the list of where your workforce can make the difference is almost endless. They play an integral part in the running, reputation and, fundamentally, the success of a company. It is therefore vital that the unique knowledge that employees have of their work is effectively harnessed and exploited as part of your risk management strategy and framework.
Taking the time to engage your workforce to help create a positive risk management culture will challenge them to develop new and better ways of working and deliver measurable rewards in terms of greater productivity and profitability.
If you require advice on risk management strategy or would like to know more about creating a positive workplace culture, contact Mike Wright, Risk Management and Investigations Consultant at firstname.lastname@example.org, on +44 (0)843 515 8686 or via our contact form.
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