June 23, 2023

Making a Difference: How GRC Tech Helps Employees Create Positive Change in the World

The words Governance Risk Compliance are not typically associated with employee engagement and well-being. What if I told you that GRC practices and technology have already contributed to creating positive change in the world?

Often a business case for technology includes time savings and productivity largely due to automation. Think about it a little more; you can attribute error reduction if you have enhanced the workspace and eliminated cumbersome copying and pasting.

But can boring ol' GRC type of tech enhance job satisfaction and employee engagement?

Gallup reports in their 2022 State of the Global Workplace report that "21% of employees are engaged at work. 44% of employees experienced daily stress. In Germany, 51% of actively disengaged workers said job stress caused them to behave poorly with loved ones."

Factors that affect job satisfaction include work-life balance, supportive management, and meaningful work, i.e. the sense that the work contributes to a greater cause.

Factors that affect engagement include contribution, workplace enthusiasm, and opportunities for development.

Based on these factors, I would argue that, of course, engagement and job satisfaction ratings are on the low end of the scale because many employees still face an overwhelming, unrealistic workload. Many organisations are still on legacy technology where information is not free-flowing across the enterprise. Either they have to copy and paste or source the information, an often bureaucratic political task in the workplace.

A modern GRC that streamlines antiquated processes will undoubtedly improve the lives of the GRC Professionals, but what about all the other employees?

GRC practices and technology house various applications from operational risk, cybersecurity, Environmental Social Governance, and more. Organisations that prioritise sustainability and social responsibility are not only helping to protect the planet but are also more likely to retain talent driven by meaningful work.

Data, it's private, and it's yours. Organisations that take measures to protect customers' and employees' sensitive and personal information are building trust and value in their organisation. GRC practices and technology reduce the risk of data breaches and cyber-attacks. Business continuity plans and actions reduce the impact and severity of an attack and enable the organisation to quickly recover after a disruptive event.

Instilling ethical business practices such as fair labour and anti-corruption creates a more just and equitable world. Employees may see this as a dissemination of policy, but the reality is they form part of the ecosystem of governance risk and compliance.

So how can GRC or other tech increase employee engagement and drive positive change in the world? By reducing the daily stress employees face in the execution of their work. By giving them space, time to think and do value-adding activities, and not copy and paste. And by enabling them to work on and contribute to bigger-picture initiatives such as environmental and social issues.

Does your organisation's technology reduce employee stress and enable them to attain job fulfilment and a sense of meaningful work?

[1] Gallup: State of the Global Workplace 2022 Report

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