This transition from a good to a great organisation can be all about how the leaders manage their own risks and when they start to think differently.

Thinking differently starts by the leaders of the organisation caring for themselves and minimising their own risks before embarking on caring for others and mitigating their risks. 

Moving from good to great also means thinking about treating health, wellbeing and performance indicators as measurable business outcomes. Not a mere add-on or afterthought. Embedding such metrics alongside financial and operational metrics will aid the process of change. 

In addition, the move of any organisation towards a notable risk management system reflects a leader who feels fulfilled, competent and connected to their employees whilst creating workplace conditions in which the businesses can thrive. A thriving business means better employee morale, psychological safety and enhanced performance. 

It has been shown that a leader’s risk profile and personal wellbeing are the most influential driver of organisational wellbeing. It is reported to be fifty-six (56) times more effective than stress management or resilience programs and fifty (50) times more effective than wellbeing apps.  

Great leaders know there is nothing typical about managing risks. In the constantly changing world of work, great leaders want real time data. They want to review a range of risk factors that impact performance. They want to tailor any investment in mitigating risks that reflects the specific needs of the organisation – as identified by the data. 

Some leaders also tend to think they can manage risks by trying to predict the extreme event…the black swan event. Great leaders appreciate and manage the cumulative risks, across a range of issues to keep the organisation in the best shape possible. 

Great leaders appreciate the distinction between implementing interventions and simply not doing anything. The financial controllers will push that a dollar not lost is a dollar earned. There is a greater emphasis on profit rather than avoiding losses. A company can be successful by preventing losses. The implications are that risk management activities need to be viewed within the prevention sphere. Invest in prevention to save money.  

With all the best intentions in the world to manage any organisation, the biggest risk still lies within each of us. We are good at overestimating our abilities and underestimating what can go wrong. Therefore, everyone in the organisation must be included if the move from good to great is to be successful. 

If you would like to review how you can start this process then contact us.