W: www.ie-today.co.uk


“A ROBUST HOLISTIC APPROACH TO RISK MANAGEMENT SHOULD BE THE GOAL” 20% ...AND


OF SCHOOLS ARE VERY CONCERNED ABOUT CYBER LIABILITY


DON'T FEEL EQUIPPED TO DEAL WITH THESE RISKS


44% 28%


OF SCHOOLS SEE LEGISLATION BECOMING MORE RIGOROUS IN THE NEXT FIVE YEARS AND BELIEVE THAT THIS WILL DISCOURAGE THE PROVISION OF EXTRA-CURRICULAR ACTIVITIES FOR PUPILS


36%


of schools surveyed do not have a strategy that covers this emerging risk. Schools are beginning to respond as awareness of the threat grows, but it’s a reactive rather than pre-emptive stance. A similar lack of proactivity and


failure to identify future risks has hit schools hard in other areas. Child abuse claims, for instance, have been prevalent in recent months, with incidents often not emerging until years later. What will the next emerging risk be? Schools must think ahead to protect the welfare of their pupils, their reputation and their long-term financial viability. Four in 10 schools assign the risk


management responsibility to the finance team, increasing to 50 percent in primary schools, yet only 13 percent of risk management measures within the formal strategy are directly related to the financial running of a school. There appears to be a siloed mentality towards management of risk, with the responsibility predominantly falling to the senior management team and governors. Over two thirds (67 percent) of schools do not include teachers in this process and 87 percent do not involve parents. Given that teachers,


19%


OF RISK IS NOT COVERED BY INSURANCE


38%


CITED REVENUE RELATED RISKS AS THE TOP THREAT BUT 30% DON'T FEEL WELL EQUIPPED TO DEAL WITH IT


parents and, to a lesser degree, pupils offer a ‘frontline’ perspective on child welfare and health and safety, it is surprising that many schools do not consult or involve them in the process. When asked what the next five years


hold, 28 percent of schools said that they anticipate legislation becoming more rigorous and believe that this will distract or discourage them from providing extra-curricular activities for pupils. This anticipated increase in bureaucracy is further evidence of a perceived ‘risk management burden’. What if schools were to view their risk management strategy as a means of delivering excellence, as being to their economic and competitive advantage? Could taking a proactive, integrated approach to creating a more robust risk strategy not only protect schools from a broader range of risks, but also serve as a marketing tool to differentiate them from their competitors? Despite the obvious differences, there


is much that the education sector could learn from corporate businesses, the report continues. Forward-thinking organisations look well beyond achieving a minimum compliance


Lucas Fetes and Partners T: 0161 972 2480 E: education@lucasfetes.co.uk W: www.lucasfetes.co.uk/independentschools


standard, identifying future threats and considering how risk management can be proactively incorporated into their overall management and growth strategy. Successful organisations embrace risk within their culture and can improve their success if they build in effect risk culture and processes. If every employee is risk-minded and does something on a daily basis to mitigate and control risk, this creates a culture of continuous improvement. “The key is to reduce uncertainty


and diminish volatility of business,” the report concludes. “A robust holistic approach to risk management – covering a wide range of current and emerging risks and business continuity planning, and involving representatives of all stakeholder groups, with support from external experts – should be the goal. Being able to demonstrate to parents that you can deliver an exceptional educational experience through outstanding teaching in a top-class environment, at the same time as being in control of risk both inside and outside of the school gates, will enhance a school’s reputation and help deliver economic and competitive advantage.” iE


ARE ILL EQUIPPED TO DEAL WITH BUSINESS CONTINUITY AND 15% DON'T INCLUDE IT WITHIN THEIR RISK STRATEGY


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