It is said that change is the only constant, and in the context of an organization, a crucial catalyst of change is policy. Company policies promote and sustain change, ensuring that new standards and ways of working trickle down to every level of the organization. Moving from policy to practice, however, demands strategic communication. You not only need to reach out to the right persons at the right time but want to get all aboard and rowing in synchrony.
A holistic GRC management is incomplete without policy management. In an ideal world, policies guide an organization to follow the rules and regulations, prepare for internal and external audits, and finally keep the organizations away from risks. However, the reality seems to be different. Many of the organizations seem to have only very basic policy management system in place. It can cause severe consequences as it leaves you at the risk for financial losses, security breaches, and overlook the improvement initiatives.
Proper policies are integral to the good governance of any organization. Clear and actionable policies, for instance, a cybersecurity policy or an employee safety policy define the boundaries of employee conduct and set the stage for a compliant workplace.