Learn some of the most effective ways to create a risk culture and leadership that encourages your property management team to follow risk management protocols.

In my experience early engagement and buy in from teams in shaping the risk management framework is critical to implementing and sustaining risk management practices that actually work for a business and do not just Rick a box. Positive reinforcement via a reward and recognition system can also incentive compliance and raise the standards at a business.

What are the most effective ways to ensure your team follows risk management protocols?

As a property manager, you have to deal with various risks on a daily basis, such as legal disputes, tenant complaints, maintenance issues, safety hazards, and market fluctuations. To protect your business and reputation, you need to ensure your team follows risk management protocols that help you identify, assess, mitigate, and monitor potential threats. But how can you foster a risk culture and leadership that encourages compliance and accountability among your staff? Here are some of the most effective ways to do so.

1 Define clear roles and responsibilities

One of the first steps to ensure your team follows risk management protocols is to define clear roles and responsibilities for each member. This means specifying who is in charge of what, how they should communicate, and what are the expected outcomes and standards. By doing so, you can avoid confusion, duplication, or omission of tasks, and ensure everyone knows their scope and authority. You can also assign risk owners and champions who are responsible for overseeing and reporting on specific risk areas or initiatives.

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Sharad Nandode

Lending Industry Expert with 20 years of Experience | Fintech | Digital | Offline | PL | BL | Secured | Unsecured | Asset | P&L | Business | Collection | Customer Service
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Training - Documentation - Empowerment - Set Expectation - Regular Review - Use Latest Technology to understand the Problem Area

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2 Provide regular training and feedback

Another way to ensure your team follows risk management protocols is to provide regular training and feedback on risk management practices and procedures. This means educating your staff on the importance of risk management, the types and sources of risks, the tools and methods to assess and mitigate risks, and the reporting and escalation mechanisms. You can also use case studies, scenarios, or simulations to demonstrate how to apply risk management in different situations. Moreover, you should provide constructive feedback and recognition to your staff on their performance and achievements in managing risks.

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Burhanuddin Saify

Facilities Management | Property & Assets Administration | CRE | Sustainability Enthusiastic | BRSR Practitioner
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Establish a feedback mechanism for team members to report potential risks or suggest improvements to existing protocols. Encourage an open communication culture regarding risk concerns. Without any deviation, conduct regular audits to assess compliance with risk management protocols. Identify areas of improvement and address any deviations promptly to reinforce the importance of adherence.

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3 Implement risk management tools and systems

A third way to ensure your team follows risk management protocols is to implement risk management tools and systems that facilitate and support risk management activities. This means using software, templates, checklists, or dashboards that help you collect, analyze, and display risk data and information. You can also use automation, alerts, or reminders that help you track and monitor risk indicators and actions. Additionally, you should ensure your risk management tools and systems are user-friendly, accessible, and updated regularly.

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4 Involve your team in risk management decisions

A fourth way to ensure your team follows risk management protocols is to involve your team in risk management decisions and processes. This means soliciting and listening to their input, feedback, and suggestions on risk identification, assessment, mitigation, and monitoring. You can also encourage them to share their experiences, challenges, and best practices in managing risks. Furthermore, you should empower your team to make informed and responsible risk decisions within their authority and accountability.

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Shalini S. Rambachan

Strategic Leader | M&A Expert | Advocate for Governance, Risk and Compliance & People-Centric Cultures
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In my experience early engagement and buy in from teams in shaping the risk management framework is critical to implementing and sustaining risk management practices that actually work for a business and do not just Rick a box. Positive reinforcement via a reward and recognition system can also incentive compliance and raise the standards at a business.

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5 Promote a risk-aware and learning culture

A fifth way to ensure your team follows risk management protocols is to promote a risk-aware and learning culture within your organization. This means creating a positive and supportive environment that values and rewards risk management behaviors and outcomes. You can also foster a culture of continuous improvement and innovation that embraces and learns from risk failures and successes. Additionally, you should communicate and celebrate your risk management vision, goals, and achievements with your team and stakeholders.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Helena Choo Bee Yian 美燕

Real Estate Advisor @ Real Estate | Trusted Advisor for International Investors
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We live in a culture obsessed with exterior documentations, what we do to show and ensure compliance to risk management protocols. In truth, it reveals our wretchedness that we do not care for the people involved. We are doing out of compliance to the law. If we value each and every person, we intentionally care for the good of the worker. We care for the safety and wellbeing of the staff by educating them. Through inculturation, in every aspect and decision, awareness is heightened to make decisions at the moment of incidence. Each worker takes on the responsibility to care and comply as an individual, team, company. Together, risks are manage down as we have built a culture to care for one another. God bless you to build with love.

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What are the most effective ways to ensure your team follows risk management protocols?

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3

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1 Define clear roles and responsibilities

2 Provide regular training and feedback

3 Implement risk management tools and systems

4 Involve your team in risk management decisions

5 Promote a risk-aware and learning culture

6 Here’s what else to consider

Property Management

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What are the most effective ways to ensure your team follows risk management protocols?

1

2

3

4

5

6

1 Define clear roles and responsibilities

2 Provide regular training and feedback

3 Implement risk management tools and systems

4 Involve your team in risk management decisions

5 Promote a risk-aware and learning culture

6 Here’s what else to consider

Property Management

Rate this article

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