The Institute of Directors and ASB have released their 2018 Director Sentiment Survey report, offering an eye-opening insight into Kiwi director’s concerns about workplace culture and wellness, conduct risk, data governance and cybersecurity, among other things.
Highlights from the report:
“Boards have a key role in leading and overseeing ethical behaviour and conduct risk. Reports into bank conduct and culture in New Zealand and Australia have highlighted the need to improve the governance of conduct risk.”
“Although over the past three years we have seen a steady increase in the number of boards engaging in ethical conduct oversight (including management reporting to boards and assessing ethics risks) much work is still needed. It is critical that all boards monitor organisational culture and conduct.”
“Boards set the tone for a healthy organisational culture and have a key role in leading and overseeing ethical behaviour and conduct risk. We have seen a steady year-on-year increase in the number of boards receiving comprehensive reporting from management about ethical matters and conduct incidents and taking action. This has increased from 37% in 2016 to 46% in 2018. Boards need to ensure that management provides comprehensive and timely advice on ethical matters and conduct risk to ensure they can properly manage and mitigate against conduct risk.”
“With the rise of the #MeToo movement and significant media focus on sexual harassment in the workplace across the globe, boards need to be thinking about these and other forms of conduct Risks,” says the report.
“Thirty-nine percent of directors said their boards had discussed sexual harassment within the last 12 months. In addition, just under half (44%) of directors responded that their board has discussed whistleblowing and how they make speak-up provisions effective in the last year. Although still low, this is a welcome increase from 32% in 2017.”
“There’s been a positive increase in the number of boards discussing whistleblowing and how the organisation makes speak-up provisions effective, up from 32% in 2017 to 44% this year. It’s timely that the Protected Disclosures Act 2000 is being reviewed to ensure it is fit purpose and in line with international best practices.”
View the infographic: IoD Director Sentiment Infographic 2018
Download the full report: IoD Director Sentiment Survey