Policies are critical documents in organizations. They define how business is to be conducted as they establish boundaries and expectations for individual and process behavior. Policies enable and intersect all three elements of governance, risk management, and compliance (GRC). It is through policies that are clearly written, communicated and understood, and enforced that the organization can “reliably achieve objectives [GOVERNANCE] while addressing uncertainty [RISK MANAGEMENT] and act with integrity [COMPLIANCE].”
As the global crisis of the pandemic unfolds and impacts business operations, one of the clear areas of mismanagement being exposed is the scattered approach to policies. Organizations need to at least temporarily change policies and communicate them to a remote workforce. In this context, they are finding that they have policies and procedures scattered across many portals, One organization I just talked to found they have 20 portals for policies and each had different formats/templates and writing styles. This works against the organization that is trying to respond to a global crisis and provide a singular consistent view of policies and procedures across the organization. This is necessary to make sure there is one single source of truth and that remote employees are working from the same consistent and current policies and procedures.
Even worse, many organizations I am talking to right now are finding they do not even know what policies they have in their organization. It is the Wild West – complete anarchy – as different parts of the organization have gone in different directions in writing policies. In a time of crisis, organizations are finding out that there is no master list of all of the organization’s policies and procedures. This is critically needed to be able to flag which ones need to be communicated in a time of crisis as well as modified to address changing business processes, transactions, relationships, and a remote workforce.
Already GRC 20/20 Research has seen a growing interest in enterprise policy management that provides a consistent policy on writing policies with an established policy management lifecycle to ensure that policies are documented, consistent, and available in a single portal in the organization. The need for this is becoming more apparent in the current crisis, and the demand for a singular integrated approach to managing and communicating policies across the organization is growing. This includes
- Back office management of policies. It requires a consistent process to author, approve, communicate, manage, monitor, maintain, and retire policies.
- Front office engagement on policies. It also mandates a consistent singular portal for an employee to access policies and procedures with related resources (e.g., training, issue reporting, helpline, forms). This portal needs to be available from the desktop and laptop down to the tablet and smartphone. And it needs to be available whenever and wherever an employee needs to access policies . . . particularly in a time of crisis.
What are your thoughts on how to manage and communicate policies in a time of crisis?
My point of view: Organizations need to be moving to an enterprise-wide view of policies that are consistent, with a consistent portal for employees to access every policy and procedure in the organization. In a time of crisis, not having a singular view into policies causes confusion and mistakes and has a direct impact on the culture and morale of employees who need guidance.
Check out GRC 20/20’s upcoming webinars and events in this time of crisis . . .
- March 31 @ 8:00 am – 9:00 am CDT : How to Maintain a Strong Compliance Culture when Working Remotely
- April 7 @ 8:00 am – 9:00 am CDT : Policy on Writing Policies
- April 8 @ 12:00 pm – 1:00 pm AEST : Agile GRC: from Theory to Reality
- April 14 @ 8:00 am – 9:00 am CDT : 3 Steps to Integrate Regulatory Change Management into Operations
- April 15 @ 10:00 am – 1:00 pm CDT : IBM RegTech Virtual Summit
- April 15 @ 10:00 am – 11:00 am CDT : Navigating Chaos: Effective Policy Management & Communication During a Crisis
- April 21 @ 8:00 am – 9:00 am CDT : Ensure Resilient & Agile Compliance in the Midst of Crisis
- April 23 @ 10:00 am – 11:00 am CDT : Risk and Compliance Pros: Distinguish Your Role in Uncertain Times
- April 28 @ 11:00 am – 12:00 pm CDT : Best Practices for Effective Policy Management
- May 6 @ 12:00 pm – 1:00 pm CDT : Risk as a Team Sport: Taking a Cross Functional Approach to Risk Management