Building Enterprise Risk Intelligence™ through Smart Learning and Development

Put Yourself on the Fast TrackPosted by Josh Haims on January 6, 2011

The pressure on organizations to address enterprise risk is unlike any we’ve seen before, perhaps because the scale and scope of risk is unprecedented. Certainly, in the wake of the financial crisis and ensuing reforms, regulatory and compliance risk looms large in the financial sector, as well as in health care, with its similarly sweeping reforms. We also anticipate supply chain risk for manufactures, competitive risk for retailers and brand and reputational risk virtually across the board, given the rise in social media and the potential power of global social networks to rapidly shift large groups of people for or against a product or company.

In response, many organizations are reengineering processes, implementing policies, putting controls in place, introducing new technologies — and fine-tuning and adapting all of these as the rules evolve — to manage, avoid and mitigate risk. But with these new ways of working comes the need to consider building new employee capabilities. And that means many companies are challenging their status quo training approaches and designing, developing and delivering truly developmental and experiential learning — not check-the-box training programs.

Simply providing training about how to follow a new process or procedure or explaining how to use a new technology may not be enough. The key is to create and foster a risk-intelligent mind-set throughout the organization and to build that into how work gets done. So, along with building risk intelligence into structured compliance and regulatory adoption training programs, organizations should step back and reassess learning opportunities holistically and the various channels and mechanisms for employee understanding and growth.

Many organizations are devoting considerable expense and time to manage and mitigate, risk in their business, so to consider taking steps to increase the effectiveness of that investment is prudent.

In a recent publication, Bridge the gap between “knowing” and “doing,” we take a closer look at the link between effective learning programs and risk intelligence. Learning can be a critical bridge between an organization’s heightened awareness of the importance of risk mitigation and the behaviors employees need to exhibit to effectively mitigate risk.

Josh Haims Josh Haims leads Deloitte’s learning and development practice and is the co-lead of the global learning services team.

Leave a Reply