“At the end of 2021 we may have thought we were starting to move on from COVID-19 impacting so many aspects of our lives, but of course it has been anything but the case.I hope you did however manage some downtime and to take a deep breath in preparation for the year ahead.
Being part of the governance and risk management community means you are already well positioned in this hard-to-predict landscape.
You know the importance of managing — and adapting to — risk, and that crisis planning is essential. (However, if you do need to dust off some of your key knowledge, be sure to keep an eye on our current short course offerings).
Amid the current uncertainty, there are some key ways to gain control, and this is done by focusing most on what you can control. Plan, and plan to change those plans if required.
Here are some governance and risk management issues that will be front and centre for me as the new year kicks off in earnest in a bid to find certainty in an ever-changing landscape.
Workforce retention
The last two years have highlighted — dramatically — the value of people. They truly are your organisation’s greatest asset. But they are also getting restless and will move on swiftly as the much-discussed Great Resignation plays out in earnest. How do you retain your greatest asset? Reinforce what your company is truly about — restate your core values and ensure you are living them. Find ways to anchor your people and this will lead to greater stability and business success. Read our article on ‘Understanding what workers want in 2022’
How’s your tech?
Cybersecurity — and a whole new set of emerging threats — are on the minds of directors in a big way as they seek out people with IT skills and know-how to help steer the organisation. Ensure you are investing in your tech to secfisture your company, and also to ensure ongoing agility in the hybrid work environment.
Update your risk register
We love to talk about risk registers at Governance Institute and that’s because they are a key weapon in the successful management of any organisation. Is yours up-to-date? Given the flurry of change in the last six weeks alone, there’s a good chance it needs some attention. Do you need to do new risk assessments?
Workplace planning
Your employees will return to the office — again — eventually and now is the time to plan for this. What is your stance on vaccination requirements, are you going to use Rapid Antigen Testing as part of your attendance management, do you need to refresh your office layout to ensure better spacing between employees?
This year, we at Governance Institute of Australia will be placing a firm focus on ensuring you are equipped with the most effective tools, timely updates and key resources required to continue to adapt effectively in a changeable environment. For the latest news, be sure to follow us on LinkedIn and subscribe to our News Update.
Best wishes for the year ahead.
This article appeared in the first edition of Governance Directions for 2022 - the Governance Institute’s monthly members-only journal.