2019 UEM Edgenta Annual Report

54 Key Risks and Opportunities PEOPLE RISK MANAGEMENT INFORMATION SYSTEM RISK Through the high-quality work of our employees, we will achieve our vision, respond to the changing needs of our stakeholders and create competitive advantage for our business. Obtaining and fostering an engaged and talented team that has the knowledge, training, skills and experience to deliver our strategic objectives is vital to our success. We must attract, integrate and retain the talent we need at all levels of the business. Gaps in IT security might be caused by weak defence systems, improper maintenance, ageing applications or system overload, etc. Confidential information and financial data are kept in our technology system. Context: People are one of our great assets and key pillars of success. Having acquired and merged from different companies in the past, our workforce has grown more diverse. Legacy cultures and ways of working are deep rooted that could lead to lack a cohesive culture. Context: Organisation-wide, we see technology as a key enabler and the biggest game changer which will allow us to optimise resources, reduce costs, increase productivity and improve our offerings for better outcomes. Due to growing connectivity of our systems, there is an increased risk of exposure to cyber threats, breach of information security, compromised data integrity / privacy and prolonged disruption of IT ecosystem. Mitigation: We are establishing an Employee Value Proposition to offer the best experience for our employees in exchange for productivity and high performance. We not only hire the ‘right’ talent, but also retain the ‘best’ talent by continuously benchmarking with competitive industry practices. A holistic people strategy and Edgenta-wide culture change programme will be undertaken to ensure the desired culture is robustly managed and sustained over time. To build a workforce fit for the future, the Edgenta Academy is well positioned to upskill and reskill our people, equip them with new talents and knowledge. Mitigation: To maintain our competitive advantage in an era of increasing digitisation, we are embarking on a digital revolution by adopting ERP system. We look at company-wide security planning through monitoring of critical information, security control via comprehensive IT security solutions and continuous awareness programmes. We undertake self-assessment in identifying gaps and seek ways to improve our digital assets and user experience.