What are the best ways for risk management professionals to boost employee engagement?

Absolutely agree on highlighting the value of risk management. Additionally, encouraging employees to pursue industry-specific certifications and join professional communities is pivotal. These certifications keep skills sharp and align with the latest industry trends, enhancing productivity and relevance. Being part of professional communities not only fosters continuous learning and innovation but also boosts employees' sense of belonging and value. This approach enhances both individual competence and organizational objectives, creating a motivated, forward-thinking workforce.

To get employees more involved in risk management, it's crucial to explain why it matters. Risk management professionals should talk plainly about how their work helps the company succeed and stay stable. Regular training sessions can break down the basics of risk management, making it easier for everyone to understand. By doing this, employees will feel more connected to the process, understand their role in managing risks, and contribute to a culture of being aware and ready for challenges.

Enhancement in employee engagement by fostering open communication, demonstrating the relevance of risk management to daily operations, and providing opportunities for skill development and involvement in decision-making. Recognizing and rewarding proactive risk management contributions, promoting a supportive culture, and offering continuous learning opportunities contribute to engagement. Encourage feedback, involve employees in risk assessment processes, and showcase the impact of risk management on organizational success. Creating a sense of ownership and emphasizing the importance of every individual's role in managing risks fosters higher engagement among employees.

Ways to boost employee engagement: 1.Conduct periodical trainings on risk management and educate them on new/emerging risks 2.To organise/arrange role plays/web based quizzes to gauge their understanding of various terminologies in risk 3.Organise white paper/point of view submissions to understand employees involvement in risk management and how the decision on treatment of risk have added value to the process/function.

Effective risk management fosters a sense of security, enhancing employee confidence in organizational stability. Transparent communication about potential risks promotes trust and empowers employees to contribute valuable insights. Involving staff in risk identification and mitigation strategies cultivates a shared responsibility for the organization's success. Demonstrating the positive impact of risk management on long-term business goals reinforces employee engagement and commitment. Ultimately, a proactive risk management approach creates a resilient workplace culture that values employee well-being and organizational success.

In my experience, involving employees in the risk identification and assessment process has proven to be a transformative approach in enhancing both their engagement and the overall effectiveness of risk management strategies. During a recent project at my workplace, we initiated a series of risk workshops that brought together cross-functional teams to brainstorm potential risks and opportunities associated with their respective roles. By creating a collaborative environment, we encouraged employees to openly share their insights, experiences, and concerns related to the tasks they perform daily. This not only facilitated a more comprehensive risk assessment but also empowered employees to take ownership of the risks affecting their work.

Foster a culture of open communication to encourage employees to voice concerns and observations regarding potential risks. Implement regular training sessions to educate employees on risk identification and assessment techniques. Establish feedback mechanisms that allow employees to share their insights on existing risks and propose mitigation strategies. Recognize and reward employees for their active participation in the risk management process, fostering a sense of ownership. Create collaborative forums where employees and risk management professionals can collectively discuss and address potential threats to the organization.

We should give them regular trainings, share newsletters, bulleyins and organise risk awareness days to create a risk culture to highlight as first line they should own their risks and try to find mitigating actions.

For one of my clients, I increased employee engagement by introducing an innovative approach to risk management training and support. Instead of conventional sessions, we gamified the learning experience, creating interactive simulations that allowed employees to navigate real-world risk scenarios. This not only made the training more engaging but also provided practical insights into the application of risk management tools and techniques.

Provide education that's bespoke and meaningful to the audience, so they know how it applies to them and why it's important. In such a cognitively overloaded workforce, novelty aside - unless people can make sense of how it directly applies to them and their work, they may feel intrinsically apathetic about adopting what you need them to. Pragmatic tips: - Communicate the why - How it relates directly to their job, including implications - Train to ensure capability (+ on-going support) - Ensure there aren't roadblocks in the way, that inhibits using what's been learned - Ensure leaders are supportive, so that there are strong social norms around risk management - Design for sustainability, not just a one time engaging activity

Employees must be indoctrinated with a risk approach to everything. They must be conditioned to first think risk and then how to mitigate it. Thus that means various different methods should be used to communicate and educate employees becuase people learn in different ways.

Implement comprehensive training programs to enhance risk management skills, emphasizing the identification and mitigation of potential threats. Foster a culture of open communication and collaboration, encouraging employees to actively participate in risk discussions and share insights. Offer ongoing support through mentorship programs and resources that empower employees to make informed decisions regarding risk. Utilize technology platforms for real-time risk monitoring, providing professionals with the tools needed to respond swiftly to emerging threats. Recognize and reward proactive risk management behaviors to reinforce a sense of accountability and engagement among employees.

Acknowledge and appreciate proactive risk identification by employees. Implement a recognition program highlighting successful risk mitigation strategies. Foster a culture that values and encourages open communication about potential risks. Offer training opportunities to enhance employees' risk management skills. Provide incentives, such as bonuses or promotions, for outstanding contributions to effective risk management.

For one of my clients, I redefined the landscape of employee engagement by creating an interactive and dynamic "ecosystem" that promotes collaboration and feedback for (fraud) risk management. Rather than conventional forums, I established a virtual "Risk Think Tank" where employees from different departments could seamlessly share their perspectives, experiences, and innovative approaches to handling risks. This interactive platform not only facilitated the exchange of ideas but also became a breeding ground for new and innovative risk management strategies.

I think involving key stakeholders early in the piece and have then part of the risk manangement journey from the start allowe risk management to be comprehensive with different perspectives considered, and also creates ownership. It allows the process to consider and incorporate everyones 'Why'.

Foster open communication channels to encourage collaboration among team members. Implement regular feedback sessions to address concerns and improve risk management strategies. Create a supportive environment that values input from all team members in risk assessment. Provide training opportunities to enhance employees' risk management skills and knowledge. Recognize and reward contributions to risk management, fostering a culture of engagement and accountability.

And then off course "Risk Management 101" top management must be "pigs" in this breakfast and not just the eggs. They must be committed 110% to ensure that the systems are followed and updated continuously and hold people responsible. If there is a gap at the top, then the whole department is at risk and the whole exercise is moot.

Creating and embedding a risk culture that integrates risk awareness into every aspect of the bank's operations, promotes ethical behavior, and adapts to the global financial landscape. It starts at the top with a top down approach whereby top management, including the board of directors, sets the tone for risk culture by demonstrating a commitment to ethical behavior, transparency, and accountability.

Demonstrate proactive risk identification and mitigation in your own tasks. Foster open communication to encourage employees to voice concerns and share insights on potential risks. Provide training sessions to enhance the team's risk awareness and management skills. Recognize and reward employees for their contributions to effective risk management. Cultivate a culture that values collaboration and continuous improvement in handling uncertainties.

Risk management should focus on learning from the past and managing the future. Spend less time placing values on scenarios based on cognitive biases and more time creating a risk informed organization that can make opportunistic decisions within established and known risk tolerances. The result will be an empowered workforce that makes the best of the scenarios in front of them leading to organic growth of engagement.