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Prepare for External Risks

Proactively prepare the organization’s talent for the risks of tomorrow by uncovering HR initiatives to implement today.

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Contributors

  • Wayne Cascio, Professor, UC Denver Business School
  • Sharon Jobity, Former VP HR, Ontario Centres of Excellence
  • Cynthia Lengnick-Hall, Professor, University of Texas at San Antonio
  • Daniel Lucy, Deputy Director HR Research and Consultancy, Institute for Employment Studies
  • Carol Ann Malinowsky, VP Performance and Rewards, Custom Ink
  • Joel McLean, Founder and Executive Chairman, Info-Tech Research Group
  • Leesa Schipani, Partner, Kardas Larson
  • John Selsky, Consulting Fellow, Institute for Washington’s Future
  • Dr. Bridgette Sullivan-Taylor, Researcher and Consultant, University of Auckland
  • Ira Wolfe, President, Success Performance Solutions
  • Anonymous Contributor

Your Challenge

  • Organizations focus on finding operational and financial solutions to external risks without evaluating how talent can be part of the solution. When HR is not involved early on, by the time the talent implications are apparent, the damage is already done.
  • This is further complicated by a VUCA climate where there is less time to rectify errors before organizational survival is threatened.

Our Advice

Critical Insight

  • Managing risks must go beyond maintaining the status quo. HR departments that anticipate and proactively plan for the talent implications of external risks not only survive but thrive through challenging times.

Impact and Result

  • Conduct an environmental scan to identify and prioritize external risks according to their likelihood, impact, and HR relevance.
  • Create scenarios to anticipate the talent implications of the prioritized risks.
  • Identify HR initiatives that enable organizations to survive and thrive in a VUCA world with the use of three principles: proactive implementation, plan now for the future, and opportunity for growth.

Research & Tools

2. Create external risk scenarios

Determine the scope of scenario planning, identify assumptions and uncertainties, and build scenarios for each prioritized risk.

3. Identify HR initiatives

Define talent implications and HR initiatives to address them, then present recommendations to the board.

Guided Implementations

This guided implementation is a seven call advisory process.

Guided Implementation #1 - Conduct an environmental scan

Call #1 - Identify resources and plan to conduct an environmental scan.
Call #2 - Review prioritized external risks.

Guided Implementation #2 - Create external risk scenarios

Call #1 - Determine the scope of scenario planning.
Call #2 - Review scenarios and discuss assumptions and uncertainties of each prioritized risk.

Guided Implementation #3 - Identify HR initiatives

Call #1 - Define talent implications from each risk scenario.
Call #2 - Review the External Risks Initiatives Catalog and discuss appropriate initiatives.
Call #3 - Prepare to present to stakeholders.

Search Code: 91246
Published: February 25, 2020
Last Revised: February 25, 2020