Make raising risks a shared responsibility to help your organization thrive

In a large manufacturing company, a new safety protocol is being implemented to improve production efficiency. During a team meeting, a junior engineer notices a potential flaw in the new machinery that could lead to a significant safety hazard. 

Encouraged by the manufacturer’s culture of shared risk-raising, she speaks up and shares her concerns. Because her input is taken seriously, the issue can be addressed before any accidents occur — all thanks to her employer’s commitment to fostering a culture of trust and collaboration among all employees.

This same culture would encourage trainee developers to speak up when they spot a potential security vulnerability in code developed by their company, so the issue can be fixed before deployment.

The ability to identify and raise potential risks is a critical skill that can make or break the success and sustainability of any organization — and this isn’t just a job for management. Rather, it’s a collective effort that calls for the vigilance and participation of every single team member.

Here are some best practices for creating a culture of proactive risk management across all levels of your organization.

Support open communication for a proactive approach

A workplace culture that values transparency and open communication is more likely to thrive. When your employees feel safe and supported in voicing their concerns, it can lead to smarter solutions and a stronger, more cohesive team.

Unaddressed risks can result in significant financial losses and damage your organization’s reputation. When employees are encouraged to raise risks openly, however, you can identify and address issues before they become significant problems.

This proactive approach will protect your organization from potential disasters and help you to minimize operational disruptions.

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Use insights from identified risks to make better decisions

By raising risks, employees contribute valuable insights that can shape strategic decisions. Informed decision-making is critical for any organization, and this type of input allows you to proceed with a more comprehensive understanding of the potential challenges, leading to better outcomes.

However, raising risks goes further than just identifying problems. It’s also about finding opportunities for improvement, as a mindset of continuous improvement is essential for staying competitive. Your employees can suggest innovative solutions and improvements to help your organization gain an edge in the market.

Furthermore, this approach empowers your employees to take ownership of their roles and responsibilities. It fosters a sense of accountability and engagement, as they understand that their contributions are valued and impactful — which paves the way for higher job satisfaction and retention rates.

Train employees and have clear policies for raising risks

To encourage risk-raising in the workplace, create a safe environment where employees feel supported when they raise risks. Clear policies, anonymous reporting channels and a nonpunitive approach to risk identification are some ways to achieve this.

Providing regular training sessions will equip your employees with the skills and knowledge they need to identify and raise risks effectively, and help them understand the importance of risk management.

Then, recognizing and rewarding employees who proactively raise risks reinforces the importance of this behavior and encourages others to follow suit. Management should lead by example by openly discussing risks and demonstrating a commitment to addressing them. This will set a tone of transparency and accountability throughout your organization.

Encouraging open communication at all levels of your organization through regular meetings, feedback sessions and open-door policies can facilitate this dialogue and ensure that risks are raised and addressed promptly.

Minimizing risk with NTT DATA's cloud services and consultancy

So, how do these principles benefit your organization when it comes to a major technological undertaking such as migrating your data and applications to the cloud?

At NTT DATA, our cloud services and consultancy play a crucial role in helping you identify and mitigate risks through proactive risk management supported by open communication and employee training.

From a technical perspective, managed cloud services already make it easier to maintain your system security and compliance, reducing the probability of security breaches and operational disruptions. When these services are implemented in a workplace where employees also feel empowered to identify and report potential risks, it nurtures a culture of transparency and accountability.

When our cloud teams work with your organization, we create a collaborative environment where anyone can raise risks and share insights. Our experts will guide you in identifying potential risks and creating robust policies that are effectively communicated and integrated into your organizational culture.

This includes training and support, with real-time collaboration and feedback, as well as advanced analytics to track effectiveness and identify areas for improvement, leaving your employees well-prepared to manage risk.

Start now to avoid problems later

The importance of raising risks within your organization cannot be overstated. It is a practice that should be ingrained in company culture, with every employee feeling responsible and empowered to voice their concerns.

Don’t wait for problems to arise. Act now by encouraging your team to speak up about potential risks and creating an environment where every voice is heard.