Risk Culture Series: Briefing 3—Must-Consider Insights: Human Dynamics and Risk Culture

The final of a series of three briefings, Must-Consider Insights: Human Dynamics and Risk Culture deals with the dynamics of human behaviour—individually and collectively as a culture—and its impact on any and all tools, frameworks, systems, and practices used to manage risk. The briefing is divided into two sections. Section 1 presents two issues: why we need to revisit and possibly eliminate some theories and assumptions about human behaviour; and why we should change our human resource practices to manage our most coveted resource—our employees. Section 2 identifies and explores some of the critical actions organizations must consider as they engage in high-level discussions on initiating a risk cultural change. The briefing concludes with four truisms, advised by the author, for the development of an effective and sustainable risk culture.