Setting the right organizational culture is critical to optimizing performance and mitigating operational risks - and that's before recent shifts to hybrid work options, gig working, and other trends setting the stage for βThe Future of Work.β
Too often, we learn of problems only after some failure that leads to brand impairment, punitive fines, customer remediation costs, shareholder lawsuits, lost revenues, depressed share value, and - increasingly β individual liability exposure.
How might leaders assess and manage such risks proactively - before damage is done - so as to assure their boards, supervisors and other stakeholders that past lapses won't be revisited?
In recent years, firms, supervisors and technologists have launched innovative efforts to assess nonfinancial risk governance, making it measurable and manageable, and moving from systems that work to detect and correct mishaps to a real-time capability to predict and prevent them.