Gear Up to Counter 2021 and Future Potential Risks

Regaining the functional health of a venture after the global lockdown is far more challenging than scaling it. Nonetheless, most organizations have reinitiated strategic execution to reactivate operations by leveraging advanced tools and technologies. Amid the changing priorities, business leaders cite the adoption of emerging technologies as a potential risk. The reason is the limited availability of a skilled workforce. In this article at Help Net Security, discover the future risks.

Resilient Future Needs

Try attracting and retaining top industry talent to get the most out of your remote workforce by reskilling and upscaling their proficiency. Leaders worldwide focus on the potential risks looming around 2021 due to the COVID-19-imposed government policies and regulations. According to a Protiviti and North Carolina State University survey, the sinking economic condition has forced the federal government to limit cross-country business expansion. The move will keep impacting consumer demand and talent retention strategies.

Potential 2021 Risks

The survey respondents identified the top ten potential risks of 2021 as:

  • Revised government regulations and policies for business execution
  • Growth affecting trade and industry constraints
  • Slashed customer demand due to the COVID-19 lockdown  
  • Limited availability of skilled workforce to conduct digital transformation
  • Reskilling existing employees with virtual training programs
  • Perils of data security and identity theft
  • Cybersecurity attacks and potential threats
  • Regulatory reform of operational challenges
  • Inefficiency to entice and sustain top industry talent
  • Inability to counter tech-savvy rivals

Furthermore, most organizations are inefficient in finding a scalable method to risk management. Their business leaders need a flexible approach to threat monitoring and revise the action plan to foster business resilience.

2030 Prime Risks

A decade later, the risk scenario of 2030 would picture more threats due to advanced technologies. Here is a glimpse:

  • Limited workforce to embrace upgraded tools and technologies
  • Frequent regulatory transformation and lack of operational resistance
  • Digital disruption outpacing employee’s potential
  • Inefficiency in employee engagement and retention
  • Identity theft and confidential data breach
  • Advanced products or services influencing business growth
  • Changing demographic affecting customer engagement and retention rates
  • Tech-savvy competitors and emerging startups
  • Incompetence to make use of data analytics
  • Lack of cyber hygiene and security vulnerabilities

Click on the following link to read the original article: https://www.helpnetsecurity.com/2021/02/08/reactive-approach-risk-management/

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