Copy of Manage Risks, Build Resilience: How Critical Event Management Can Help

Just how prepared is your organization to deal with hazards, risks and disruption? Check out our matrix to self-assess where you are on the journey to optimal emergency preparedness and response. Learn how critical event management helps drive operational and organizational resilience—and why you need to prioritize resilience—to deal with disruption and thrive. Insight from RAYVN - Critical Event Management

Your Challenge: A Shifting Risk Landscape

Many hazards—such as working at height or the transport of dangerous goods—pose known risks in the workplace as well as for the delivery of goods and/or services. It’s challenging to manage such incidents, but proactive measures, policies, plans and preparation to respond efficiently can help to mitigate such threats. Riskier still, perhaps, are those incidents with potential to escalate. And even more difficult are the perils associated with the entirely unexpected—Black Swan event—which catches us all by surprise.

Today’s world is characterized by an ever-shifting, often volatile risk landscape. Yet, sometimes even known risks resurge due to fresh contexts. Take the results of the WTW Global Directors’ and Officers’ Survey Report 2024, which showed several surprising results with respect to the top seven risks, including:

• Social: Health & safety risks are ranked very or extremely important concern for 84% of respondents, up from an average of 45% over the previous three years
• Cyber: The risk of cyber-attacks falls to second place at 79% and data loss comes in third at 78%
• Legal: Regulatory breach comes in fourth place at 74% while breach of sanctions enters the top seven at 64%
• Governance: Systems and controls is newly ranked fifth with 73% and bribery and corruption is ranked sixth at 69%

Moreover, the global survey showed much higher proportions of respondents indicating that risks are very or 2 extremely important—thus demonstrating the impression that risks are seen as more intense than previously. Given these results, it’s clear that critical event management is important, perhaps now more than ever. C-suite and executive teams prioritize managing risks or are increasingly aware of the need to do so. For HSE managers, this means that stakeholder management and reporting matter—not just internally but also for the purposes of compliance, insurance and legal protection. Overall, the need to manage risk is seen as widely important—with an increasing emphasis on the urgency of risk mitigation and resilience capabilities.

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