There is currently a gap in the behaviors that allow leaders of leaders to effectively measure and take risks, arising from daily actions, launching large initiatives, reacting to looming threats, and harnessing emerging opportunities. Once they have identified a risk, they also tend to struggle in adopting appropriate risk management strategies.
Because of daily demands from their portfolios, and lack of certainty regarding appropriate risk responses, there is often a strong impulse for leaders to avoid any form of risk, even when the cost of inaction can be far greater. This can cause them to both overlook the severity of potential threats and avoid taking positive steps that could lead to tangible improvements or organizational benefits.
Leaders can grow their skills by effectively leveraging their knowledge, experience, and critical analysis to take informed risks and make key decisions relating to their portfolios. To enable this important work, HR needs tangible solutions, including quick wins and examples of how busy leaders can develop and refine their risk taking and management.
Support leaders in strengthening their risk taking and management processes by enabling them to identify and assess risk, create and implement action plans, and strategize for future risk management.
Impact and Result
- Use this learning resource to help leaders of leaders identify, assess, and prioritize risks related to their portfolio,
- Align their individual risk preferences with those of your organization and apply this level of risk tolerance to risk management strategies within their portfolios,
- Act with assurance in response to uncertainty and foster this attitude within their team,
- Communicate the significance of risks and risk management strategies to others,
- Develop proactive risk management plans to address new and continuing risks.