Reducing Risk with Appropriate Communication

There’s no underestimating the power of communication. Good communication brings people together, increases cooperation, collaboration and understanding, and produces more positive outcomes in project-based work. Poor communication can create challenges, including low morale, ineffective project delivery and increased risk.

The importance of communication

Effective and appropriate communication is the bedrock of business success. Without it, unifying employees around common goals and executing business strategies is impossible. Leaders who communicate well can motivate their teams and gain respect. Team members who communicate well with one another can save time and energy in solving problems and achieving results.

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Shifts in ways of working have impacted communication for organizations everywhere. The transition to fully remote and hybrid workforces means communication styles must adapt to meet new environmental and operational dynamics. The absence of casual, impromptu, and face-to-face conversations has highlighted how many types of workplace interaction was previously taken for granted. The expansion of distributed workforces and with it the widespread adoption of video conferencing, instant messaging, phone calls and other arms-length communications platforms have created gaps created between people and teams. These gaps have increased the risk of human error, neglected precautions, or oversight that can leave companies vulnerable to errors or cybercrime.

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Modern organizations wishing to thrive in a changing landscape must address this often-neglected but vital business element.

Developing your risk management and communication protocol

When it comes to building a risk management strategy, appropriate communication must woven through every layer. Building a culture centered around appropriate and clearly defined communication – not only what to communicate, but when to do it – will, in turn, significantly improve your chance of successful risk mitigation. Consider the following aspects:

Well-defined organizational strategy

Communication serves a significant role in clarifying and executing organizational strategies, which serve as a vehicle for defining measurable objectives that inform day-to-day business decisions. Translating strategy into action requires stakeholder buy-in, both internal and external. Objectives should come part and parcel with a feedback loop and ongoing check-ins for tracking successes and roadblocks.

Risk identification

It may go without saying that a robust risk management strategy requires identifying organizational risks and being able to communicate those findings to the right people and departments so that action can be taken. Some organizations can overlook this stage, leaving risk mitigation to be piecemeal or simply a collection of uninformed tactics. Hoping for the best doesn’t cut it; taking a more deliberate approach is crucial.

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Risk alignment workshops offer an opportunity to evaluate the threat and risk landscape, identify emerging risks, standardize how to communicate them and recalibrate strategic goals. Conducting annual or semiannual workshops with key stakeholders and departmental representatives encourages cohesion and ongoing dialog and enhances cooperation.

Implement risk mitigation controls

A framework is only as effective as the communication that sets it in motion . Once you’ve identified the risks relevant to your organization, the next stage is to design and implement risk mitigation controls. Of course, the best way to mitigate risk – rather than pick up the pieces once a threat becomes a reality – is through proactive measures.

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Risk identification is an opening chapter, not a complete story. Once you’ve identified risks, you must communicate those risks appropriately and effectively, including impacts and outcomes. While your organization will do its due diligence to mitigate all risks, some incidents are inevitable. An effective communication strategy will provide a clear, jargon-free framework for addressing and mitigating known risks at every stage through effective and appropriate information dissemenation, as well as guidance for responding to unknown risks as they emerge.

Establish stakeholders and gain buy-in

More than simply assigning titles to stakeholders, it’s crucial to define their roles and communicate clearly what you would like to request or expect of them when called upon. Rather than just documenting what requests you will make of these key players, you must also commit to what you will offer them. Many stakeholders may be completely unaware as you monitor risk events and manage incidents. Commit to (and follow through with) regular updates and reports. After all, communication is a two-way street. Effective, sustainable risk management requires bidirectional engagement and ongoing adjustments based on new information.

Best practices for appropriate communication

Just as risk reduction relies on anticipating incidents and taking steps to avoid them, good communication comes by following best practices to avoid pitfalls. Consider the following elements of effective communication:

Be consistent

To build trust and a communicative culture, you must be consistent in your approach. Not only does consistency create a cadence and standard within your organization, but it sets an example for colleagues, employees, and partners. Being consistent means repetition and frequency, along with not changing your messaging or approach without discussing it with your collaborators or recipients first.

Be clear about requests and responsibilities

Don’t assume that people know what is required of them or what they can expect from you. Even if you’ve had meetings, sent emails, documented everything in a binder or feel that things “should” be apparent, never assume this is the case. Ensuring everyone is on the same page will guarantee nothing is lost in translation. Define roles and responsibilities and the scope of expectations from people and departments involved in your strategy.

Be bi-directional, encourage sharing and listening

As mentioned previously, communication is not a one-way street. Instead, an effective communication protocol means both sharing and listening. Encourage bi-directional communication by establishing open channels for team members to voice concerns, provide feedback, check statuses, or report incidents.

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Give space in risk management meetings for sharing and asking questions, and take a “speak with, not at” approach. Encourage idea sharing and celebrate wins - risk management meetings needn’t be a forum solely for threats and concerns.

Be accountable

Accountability builds trust and rapport while making responsibilities clear. Creating a safe and supportive space for each person and team to take accountability for their roles deepens interconnectedness between teams and supports role definitions.

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Responsibility doesn’t mean taking or creating a sense of blame or retribution. Instead, ensure all team members see accountability as a learning experience for the entire organization. This healthy approach will ensure less time is spent evaluating incidents or missteps and more time learning and evolving as a result.

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Accountability also applies to the above elements of proper communication. Take accountability for your commitments to be consistent, clear and punctual, your responsibilities and expectations, and your role in sharing and active listening. Personal accountability brings an important layer of awareness to communication.

The human element

Governance, risk, and compliance protocols have many components. Communication is one of them. Conducting appropriate and well defined communication can make a positive difference in your approach to risk mitigation.