New paper from Enlighten sets out the ‘three pillars of operational resilience’
- Published: Tuesday, 17 November 2020 08:27
Enlighten has released a new paper looking at operational resilience and setting out what it says are the three pillars of operational resilience. The document is focused on Australian organizations but is relevant around the world.
Entitled ‘Leading For a Changed Future, What Are Your 'AHA' Moments of 2020’, the document states that operational resilience is a ‘critical part of successfully managing business in a changed world faced with unrelenting disruption’. It defines operational resilience as well as explores what the COVID-19 crisis has taught leading executives and examines how leaders can build a more suitable framework for the future.
The three pillars of operational resilience
There is no one-size-fits-all strategy for operational resilience; it requires continual assessment, analysis, and adaptation of existing strategies to address the unique challenges of each and every future crisis.
The journey to operational resilience is one of continuous improvement requiring the long-term investment of resources and time. It thus necessitates top-down commitment and consistent support from senior leadership and the Board. There are three main underlying pillars of operational resilience - people, technology, and compliance:
People - leaders must acknowledge that the future lies in an elastic workforce. The new standard demands a very different way of managing people to ensure teams are fully engaged, productive and collaborative while also allowing people more freedom in achieving a work-life balance.
Technology - leaders must invest in the right-fit technology and be ‘always on’, ready for scalability and change. Transformation can’t happen effectively without leveraging innovative solutions to manage a flexible workforce and ensure continuous improvement. Sustainable transformation requires detailed planning, employee buy-in and change management.
Compliance - leaders must promote an enterprise-wide compliance-first culture. It’s no longer good enough for compliance to be considered the sole responsibility of only compliance officers. Organization-wide thinking has to change so there is ownership of compliance at all levels of the organization.