Risk Management

Improve Risk Communications in Pandemic in 3 Ways

Did you have to frequently update risk landscape to the top management as part of the risk communications plan? You are not alone. Risk professionals all over the world are under pressure to respond quickly and accurately. Companies are starting to realize how essential it is to have a proactive risk management strategy in place. In this article at Risk Management Magazine, Terrence J. Tracy shares three ways to improve your risk communications.

Risk Communications for Pandemic

Harvard professor and management and leadership expert Amy Edmonson remarks, “Transparency is job one in a crisis.” No matter the size of your business, you should release a statement to inform customers about your crisis management plan. Otherwise, they would lose trust and can take their business elsewhere. Here are the three ways you can improve risk communications in the pandemic:

Create a Permanent Risk Response Team

The majority of the organizations have created a rapid response team to contain the situation for now. Interestingly, Tracy suggests you establish the committee permanently. It should enable you to stay prepared for the next crisis. Train the members on various platforms and communication channels so that they can do their job well. Keep them prepared well ahead of time and equip them with the best resources you can afford during the current scenario.

Upgrade Your Communications Landscape

Organizations are zealously collecting all types of information that relate to COVID-19. Why not put it on your website that your customers and stakeholders can access, too? Track the updates that received the most views to get an understanding of what type of risk communications you should prioritize more. Comments and reactions from the customers can provide you with better insights and help you decide the next course of action.

Create a Risk Response Scheme

Risk communications involve having readymade risk response plans that you can launch should you face the crisis. Organizations have now compiled protocols that employees must follow while they work from home. Make a risk plan that you can change according to the situation you are facing.

To view the original article in full, visit the following link: http://www.rmmagazine.com/2020/04/29/3-ways-to-improve-your-crisis-communications-plan-after-covid-19/

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