Ensuring good governance in volatile markets
During what many see as an unprecedented time, and along with the current volatile markets numerous organisations rely on a strong level of corporate governance to mitigate the ongoing risks to their businesses.
Good governance ensures the overall direction, effectiveness and accountability of the organisation. Boards are reinforcing their frameworks and policies and increasing the importance of governance by creating specific roles within their organisations such as Chief Risk Officers (CROs), board level risk committees and senior managers are directing resource to develop these frameworks and policies.
The Board has several roles; it not only sets the vision of the company but also the values, culture, strategies, and has to lead from the front in a way that creates a buy in from the employees. If the tone is not set from the board, then trying to implement any new policies or procedures across the organisation tends to be much harder and less successful.
Clients and customers are completing more Know Your Customer (KYC) and Due Diligence (DD) than ever before. This is to make sure they are entering into contracts and doing business with organisations that are both reputable, secure and can deliver a high level of service under the terms of those contracts. Companies are trading on this reputation and it is paramount in these times when bids and tenders are more limited, and multiple companies are pitching for that business, that you can show you have a high level of good corporate governance and robust policies and procedures. This is to minimise risk to both your own organisation and the customer but also to increase efficiency. With more in depth KYC being completed, this can be the deciding factor when projects are being awarded.
Having robust corporate governance for corporate setup has always been paramount, the importance of this role has been exacerbated by the COVID-19 pandemic, which has created significant economic instability throughout the world. Links Group places corporate governance as a priority that is why we are seen as a reliable and trustworthy service provider.
As an organisation Links Group has implemented a number of measures to ensure we operate with the highest level of governance both locally and internationally. Links Group is Trace certified, all employees adhere to the UK anti-bribery act and the organisation is both ISO-9001:2015 and ISO 27001:2013 certified for our quality management system and IT Security Management systems. Corporate Governance policies are in place at both a local and global level through our parent company Equiom and we are already seeing the benefits of ensuring we write good robust policies which ensure we are able to create long lasting business relationships.
During this unpredictable period ensuring you select the best business partners safeguards your own business. Investment in good governance will not only make organisations more efficient and profitable but will also put those businesses at the forefront when stability returns to market and dust settles.
If you’d like to find out more about Links Group or Equiom and how we structure our Corporate Governance, please get in touch with us on consultants@linksgroup.com or +971 (0) 4 446 3900.
