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Section 1 – The risk landscape
E X T E N T T O W H I C H # M E T O O H A S H A D A N I M P A C T
B R E X I T S T I L L E X P E C T E D T O H AV E A N E G AT I V E I M PAC T Although Brexit is no longer the primary focus it once was, General Counsel and Board Directors remain concerned about Brexit’s impact on their business; the emphasis is now less about long-term financial impact and more about operational issues such as staff morale. Nearly half expect the long-term impact on staff morale to be negative. Supply chains are also expected to be negatively affected, and a third expect short term financial performance to suffer.
# M E T O O C H A N G E D WO R K I N G C U LT U R E B U T H A D L E S S I M PAC T O N O P E R AT I O NA L P R O C E S S E S Before the lockdown started, the greatest impact of the #MeToo movement was perceived to be the way it changes the work environment and culture, with Board Directors in particular recognising a transformation. However, relatively few respondents said that #MeToo directly impacted specific operational processes such as use of non-disclosure agreements (NDAs) or people management procedures and processes. This may imply that the fundamental legal and operational framework to address concerns raised by #MeToo is largely in place; and that the most significant impact has been raising awareness and changing cultural attitudes. The impact has been more about how issues relating to sexual misconduct are perceived and considered rather than changes in the processes to deal with them.
Changed the working environment and culture
40%
24%
Increased the severity of disciplinary measures taken
7%
22%
Changed the way we manage people
27%
19%
Changed risk escalation processes
20%
18%
Changed the way we manage retention of talent
13%
9%
B R EX I T ’ S E F F ECT ON FX RAT E S HAS A B I G I MPACT, AS I S THE CAS E FOR ANY R E TA I L E R THAT PURCHAS E S I NT E RNAT I ONAL LY.
Reduced the use of NDAs
8%
8%
Tim O’Gorman, General Counsel and Company Secretary, Halfords Group
General Counsel Board
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