Risk Management

Three Easy Ways to Communicate Organizational Risk

Risk management is a critical piece to the security puzzle for any organization, and most organizations are great about having these necessary conversations in their leadership offices. However, a recent survey revealed that only one in three middle managers and a mere fifth of front-line managers receive communication about risk management. In an article for Risk Management, Matthew Shinkman and Peter Young share how to better communicate this crucial leadership element.

A Stronger Risk Culture

When there is a lack of communication, the entire organization suffers because it negatively impacts everyone’s knowledge regarding how to handle threats. Shinkman and Young share three achievable ways in which organizations can better communicate risk management and thus improve all employee awareness:

  1. Establish a risk management curriculum.
  2. Go the extra mile.
  3. Have employee advocates.

Learning and development is an excellent investment for an organization because it empowers the minds of tomorrow. Most organizations have already incorporated one, maybe two mandatory risk management elements into their programs; however, the top companies have realized that this is not enough and are beginning to invest in more. One cutting-edge approach to risk management is to utilize case studies, because they create a realistic experience for the participant.

Training is important in the constant quest to prevent risks, but for some employees they need more. Some employees have a greater responsibility to prevent risk, and so establishing “risk communities of practice” can be greatly useful. Shinkman and Young share that “one major U.S. financial company uses a risk management newsletter and various risk management events to communicate thought leadership, resources and tools to a group of employees who have opted into the community.”

Utilizing risk liaisons can be the critical element in achieving risk management objectives. Risk liaisons that are working day-to-day with employees are a highly cost-effective way to ensure things continue to run swimmingly.

You can read the original article here: http://www.rmmagazine.com/2016/08/01/three-easy-ways-to-communicate-risk/

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