ADVERTORIAL
Six steps higher education must take to protect against risk
I
t’s a difficult time for universities and colleges. Campuses around the world have found themselves turned into the centre of wildcat protests unseen for decades. Administrators are facing the fallout from politicians and the media, while some employers are refusing to hire their graduates.
Campus administrators find themselves stuck in a complex web, where every move can feel like the wrong one. But, there is a way through.
Many of the world’s most well-known institutions have dealt with significant turbulence in their reputation. Oxfam, one of the world’s leading aid organisations, found itself engulfed in crisis and even had millions in government funding threatened over an appalling child abuse scandal among the very people the aid agency was supposed to be helping.
While Oxfam is still around, other organisations that have faced reputational damage are not. Margaret Thatcher’s favourite PR firm, Bell Pottinger, entered into administration a few years on the back of a disastrous PR campaign. The swirling scandal that brought down an industry giant started with a £100,000 per month contract to run a campaign in South Africa on behalf of the Guptas, a family-run business empire ensnared in the largest web of corruption and political intrigue since the end of apartheid.
Bell Pottinger began its campaign with fomenting discontent of “economic apartheid”, the idea that racial injustice in South Africa has simply been replaced with economic injustice. However, this campaign increasingly became about deflecting attention away from the actions of the Gupta brothers. When the Guptagate scandal erupted—a massive bribery scheme that brought down President Zuma—Bell Pottinger itself became the scourge of the scandal. Clients fled, its CEO hastily departed, and the firm went into administration.
One embarrassing incident or one mismanaged situation can quickly spiral into something far greater. Whether a campus protest, a bribery issue or a cheating scandal, don’t ignore the impact of reputational risk.
About VinciWorks
Download VinciWorks’ guide to safer universities.
In an increasingly complex world with ever-evolving regulations, staying ahead is essential. At VinciWorks, we keep a finger on the pulse of new challenges and regulatory changes. With over 500 e-learning solutions developed in collaboration with world-leading law firms, our international team works tirelessly to deliver compliance solutions tailored to your business and location. We cater to diverse learning styles and offer training in every language, ensuring that wherever you are in the world, you receive the training and support you need to thrive.
www.vinciworks.com/safer-universities
1. Have a diverse management team that pays attention Risk management has to start at the highest levels. Without a diverse senior leadership team with their fingers on the pulse, a risk-ready culture can easily seep in and undermine whatever other measures have been put in place. From vice-chancellors to student government, risk has to be a standing agenda item, not an excuse for a coffee break.
2. Always be assessing potential risks
This means constantly taking stock of the smallest possible risks, and keeping them on the radar. From the possible expansion of money laundering regulations to cover universities, to protests on the other side of the world, keeping an eye on what might come up will help you be ready to face future challenges.
3. Live with integrity
Universities are diverse places, but staff and students should be proud of their institution, and the values it upholds. This means acting with integrity, and having a strong code of conduct that everyone has signed up to.
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4. Don’t reward excessive risk
Recruiting international students is a great thing, but how is that happening in practice? Subcontracting to international recruiters comes with the risk of bribery and corruption. Even bribery that takes place abroad is your responsibility. It’s a criminal offence to fail to prevent it.
5. Compliance is everyone’s responsibility
Better compliance leads to fewer risks across the board. No one should get off the hook because they ‘didn’t know’ or haven’t understood the policies and procedures.
6. Have a rapid response plan ready to go
Your institution must be able to measure and deal with risk velocity. This is the time it takes for a risk to grow large enough that it becomes an existential threat. These days it can be overnight. Guard against it with our higher education training package. Now, all education clients can upgrade to our emergency response package for free. Don’t delay. Protect against risk today.
We offer over 50 courses for HE/FE institutions covering several topics. Download our course catalogue below.
www.vinciworks.com/hefe
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