An unlikely health and safety pandemic has thrown the world into a tailspin. Regulatory changes related to COVID-19 are already touching all facets of the industry. They are likely to continue to evolve at a brisk pace, making it difficult for some employers to keep up. Although it would have been impossible for any company to be fully prepared for such low probability, the companies that put health and safety at the forefront of their efforts have found themselves in a much better position to respond.
Third Party Risk Management
The worldwide crisis made us hyper-aware that trust-worthy relationships are vital. Effective third-party risk management is the best way to gain assurance that responses and decisions are risk-informed. Managing third-party relationships, calibrated for criticality and risks, has never been more critical. This is the most reliable path to strengthen business resilience, protect stakeholders and the bottom line.