To support enterprise growth in uncertain times, ERM leaders must establish a continuous process to identify, plan and implement cost optimization initiatives to maintain business and functional momentum.

These four actions help leaders overcome business challenges and successfully plan cost optimization initiatives:

  • Continuously monitor key risk indicators and collaborate with other functions to understand economic conditions
  • Manage employee perceptions through uncertain economic conditions
  • Establish transparency of all functional cost drivers
  • Develop a robust action plan to effectively implement cost optimization initiatives and recognize non-negotiable, scenario-independent growth initiatives