DYNAMIQ IN THE NEWS: RESILIENCE AS A COMPETITIVE ADVANTAGE

Too often, risk management professionals use fear to sell resilience solutions, telling customers, “You must do what we say or the sky will fall in”.

In fact, resilience should be seen as a chance to add value to your business rather than an insurance policy against the worst case scenario.

The industry is changing, and resilience is now as much about seizing opportunities as it is about responding to threats. Forward thinking leaders see resilience as a positive way to do business.

Risk, security and OH&S managers often view resilience through different lenses, which creates a disjointed approach to risk management. To encourage agility in business and measured risk-taking, organisations need to take a more integrated approach.

So, how do risk management professionals address the chasm between the traditional views of risk and the more progressive thinkers in the industry?

Simple: the sales pitch needs to change. The presentation of risk management needs to be reworked so that businesses are positively engaged with their resilience program. Here are four tips to make your resilience strategy more productive and positive:

1. Align your strategy across the business - This breaks down silos and makes your approach less disjointed. Your structure, accountability and tolerance for risk must be made clear. This creates agile and proactive risk management.

2. Integrate your risk management systems - Having an enterprise-wide risk management approach, which defines the severity and consequence of certain risks, will ensure informed decisions can be made quickly.

3. Communicate well and often - Provide your people with real-time information, data and analytics to ensure they have the right tools to mitigate risk and respond to opportunities that arise.

4. Celebrate successes - It is vital to have a positive attitude towards the review process. Don’t just look at the results of your program when you have failed, also celebrate success when the team gets it right!

Click here to learn more about how we can help businesses build resilience.

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