The lack of senior management support has caused many a restless night for the majority of risk professionals. Risk Professionals report the lack of support by stakeholders and senior management as their #1 challenge to implementing risk management effectively! The solution is surprisingly simple; risk professionals need to effectively communicate and demonstrate the value of risk management throughout the organization to earn stakeholder and senior management support.
While this challenge may initially seem daunting, implementing the following tasks will help you achieve your goals and provide you with greater influence in your organization. It won’t take long before you begin to experience the positive outcomes from your efforts…
- Communicate the value of risk management with empathy toward the unique roles of individuals in the organization.
- Be willing to adapt your communication style to earn the trust of executives and stakeholders throughout the organization.
- Key risk data exists throughout the organization. With the trust you have now earned, gather influential risk data from a greater number of individuals. This broad collection of risk data will improve your accuracy and increase your opportunities for success!
- Effectively managed risk rewards organizations with opportunities for increased profits. Share each success to bring greater attention and value to risk management in your organization. Have you shared your successes with stakeholders and senior management?
Think of the influence and opportunity within your reach! By effectively communicating the value of risk management throughout your organization, you will strengthen your leadership skills and increase your influence in the organization. By demonstrating the value of risk management, you will earn stakeholder and senior management support. This winning combination will help you become a well-rested champion in your organization.
How have you earned senior management support in your organization? Have you experienced success by implementing one of the ideas above? We invite you to share your opinions and successes below.
My next entry will focus on the #2 challenge facing risk managers— Culture resists adapting risk management because of fear. Be sure to follow me at http://www.sword-activerisk.com/blog/ or on Twitter @ERMTrends.