Whilst it is recognised that culture is a key enabler of strategy, the Chartered Institute of Internal Auditors has placed greater focus on the importance of organisations’ culture.
Identified as a key competitive advantage for businesses today, boards also regularly recognise culture as a risk. This, combined with an increased awareness, has resulted in the inclusion of culture on many of our clients’ audit plans.
In the last few years alone, organisations have experienced a rise in key people regulation and legislation including the gender pay gap, modern slavery and the senior managers regime. This is a small reflection of understanding people risk in organisations.
Talent management and other component parts of HR functions are evolving as new technologies and practices come to fruition with the rise of disruptive cloud technologies. Our clients are increasingly reviewing their HR functions to understand whether it is fit for managing risk and the changing dimensions of the workforce.
What you need to do now
To effectively address both the risk and opportunity these challenges present, organisations should take steps to:
- consider the implications of a cultural audit, and whether your culture is future fit
- understand the level of people related regulatory exposure for your organisation
- review key risks within the HR function in terms of the overall operating model or within its constituent parts such as recruitment, learning, talent management and employee relations.
How we can help
Our skilled team is comprised of leaders in their field, who have worked with a breadth of clients across all sectors. We offer professional assurance, insight and guidance through knowledge of best practice, work with other organisations and constant exposure to new developments in technological solutions.
Our model allows us to assist by performing the audit for you, or complement your team providing specialist knowledge and best practice from a range of organisation.
Our services include:
- Culture and conduct
- Strategic HR assurance
- HR operational assurance
- Regulatory; gender pay and modern slavery
Further information is available on our People, Culture and Organisation services: