In the age of remote working, communication is more important than ever.
“In times of crisis management, such as the pandemic, you need to involve the whole team,” Nick advises.
“We use a holistic approach to make sure everybody knows what’s going on, whether that’s HR, finance or IT. A good communications and engagement strategy will reduce business risk and impact.”
The Dangers of Keeping Quiet
Holden cites an example from a strategic security review with a large university. “When we were doing our holistic review, the organisation was also undergoing an insurance review.”
“The information we provided as part of the review supported the right conversation with brokers, ensuring they understood what their policy needed covering and what mitigation was in place.”
This type of information can help organisations reduce their insurance premiums.
Holden adds that departments often work in silos, which means they don’t have an overall understanding of what’s going on in the business.
“The finance department might manage business insurance, for example, but they don’t always know what’s going on in other departments.
“This might mean that they purchase the wrong policy, waste money, or worse still, are not covered when crises like the pandemic hit.”
Supporting Business Growth
“Egos need to be left at the door when it comes to risk management,” says Holden. “We teach the value of transparency among all departments, regardless of management hierarchy.”
“Too often, people are concerned with status rather than supporting the business to grow,” concludes Nick. “It’s not about who does what in a company – it’s about how you all work together to support business growth.”
For an accompanying read, please visit Can Poor Communications Impact Your Business Culture?