Mitie’s Professional Services business has launched a new risk consultancy. Involving a team of seasoned professionals with more than 100 years of experience, the Threat Mitigation offer will be led by Ian Carter, former New Scotland Yard chief police officer and Ken Allison MBE, a former British military officer. Offering industry-leading advice and techniques in risk management, the new service will add to the extensive Professional Services capabilities Mitie provides to its clients and will be marketed under the Source8 consultancy brand.
With businesses facing an evolving range of threats from cyber crime and natural disasters to disgruntled members of staff, fresh approaches are needed to address organisational risk. The Threat Mitigation Team will help clients to understand the threats and risks which could cause their business harm such that they can protect the essentials; namely their people, property, information and infrastructure.
Business interruption remains the top peril for the fifth successive year in the Allianz Risk Barometer, with almost two-thirds (37%) of businesses ranking it in the top three most important risks they face. Offering an end-to-end service from consulting through to delivery, the specialist expertise within the Threat Mitigation Team provides clients with an efficient, thorough and holistic service ensuring nothing is missed. This focus ensures resources are concentrated where they will have the most impact and that the approach to risk is sustainable over the long term.
According to a Management Today survey conducted in association with DuPont in February last year, less than half of business owners (48%) have no continuity or crisis management plan in place. By identifying and addressing real risks, the Threat Mitigation Team can put preventative systems, practices and processes in place. Should issues occur, they’ll be on hand to help businesses cope. Assisting a speedy recovery is vital, with the Business Continuity Index stating that 75% of companies without crisis plans in place fail within three years of disaster striking.
In addition to mitigating business threats, deploying a robust approach to threats and risks also signals a clear commitment to staff and customers and can even assist operational performance and cost reduction.
Speaking about the new venture, Simon Venn (managing director of Professional Services at Mitie) informed Risk Xtra: “Throughout my career, I’ve seen many unwanted events create significant amounts of damage that could well have been prevented by strong risk assessment, analysis and mitigation. Some businesses don’t yet fully understand how vulnerable they really are. They determine to use ‘sticking plasters’ to patch up problems rather than taking the right action to address underlying causes.”
Venn added: “It’s only when resilience and security failings actually occur that senior executives find out that their risk management mechanisms are either inadequate or unsuitable. Our Threat Mitigation Team provides critical support to help prevent potential issues destroying our customers’ businesses. Taking expert advice and pre-emptive action early can prove crucial when it comes to resilience during and recovery from a crisis episode.”