Saturday, November 26, 2022

Managing Operational Risks of Enterprise Hybrid Work Model

By Prangya Pandab - July 12, 2022 4 mins read

Businesses navigating hybrid work must take operational resilience into account and mitigate operational risks brought on by the new work paradigm.

Even though hybrid work provides the flexibility of remote work and the possibility for in-person connection, it also increases operational risk. Most employees today want to work remotely or in a hybrid environment. Organizations must recognize and reduce these risks if they want to maintain operational resilience both now and in the future, given the demand for hybrid work options. 

Operational resilience became apparent as a crucial element of any successful enterprise during the pandemic. This resilience extends beyond business continuity planning and includes a comprehensive and strategic framework intended to support organizations in adapting and changing during unpredictable and turbulent times. 

Companies must consider the effects of these operational risks while strengthening their operational resilience, which is often connected to hybrid work models.

Challenges Associated with Talent Management

While employees claim that hybrid work models have increased their productivity and flexibility, leaders now have a new challenge when interacting with and evaluating their hybrid and remote employees. To foster stronger relationships with remote employees, resilient companies invest in their people leaders by providing them with training and development focusing on virtual leadership skills. 

Performance evaluation should embrace an outcomes-first approach. Leaders should pay less attention to how long an employee spends in the office. Instead, they should focus on what employees need to do and whether they follow through on it, regardless of where they are situated. 

The pandemic has significantly changed talent management in ways that go far beyond the workplace. Leaders must commit to routinely assessing employee engagement, reflecting on enterprise culture, displaying a willingness to bring flexibility and agility to people processes, and understanding that what works today might not work tomorrow when it comes to retaining current employees and recruiting new ones.

Also Read: How MLOps Is Transforming the Way Businesses Work

Roadblocks to DEI 

In the past few years, many companies set ambitious Diversity, Equality, and Inclusion (DEI) objectives. If businesses don’t pay attention, hybrid work could endanger the progress accomplished and potentially erase milestones. Organizations must depend on data to avoid this risk to understand whether internal mobility and the benefits are equitable. To ensure that everyone is treated equally and evaluated according to their output, regardless of where they work, they must modify workplace policies.

Compliance and Cybersecurity

As remote work became necessary, businesses swiftly shifted to digital collaboration. The changes made it possible to continue operations, but they also significantly expanded cyber-attack surfaces and compliance requirements. IT habits of remote workers make those issues worse.

Remote working conditions may not have the secure connections of an office environment. Employees are more likely to use personal devices for work in a remote setting. Additionally, a lot of remote workers decide to operate from unsafe networks in public places.

Data privacy hasn’t changed, even though remote work has expanded the security perimeter of organizations. 

Businesses must update their cybersecurity policies and plans and use multifactor authentication if they wish to safeguard against data breaches and ransomware attacks. They should ensure that employee training incorporates the latest advancements in cybersecurity defenses. Businesses must also empower IT teams to help the workforce so that they can report suspicious messages and their own errors without fear of retaliation.

Adaptable and flexible structures centered on people, processes, and data are necessary for creating and maintaining resilient businesses. To protect data information, businesses must achieve DEI goals, and manage employees fairly, companies using hybrid models must embrace change and adaptability.

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AUTHOR

Prangya Pandab

Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.

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