Attraction/ retention of talent/HR/
labour relations
|
Cyber/IT failure/ General Data
Protection Regulation (GDPR)
|
Terrorism
|
    |
|
|
|
Potential impact
|
Potential impact
|
Potential impact
|
- Lack of available management talent/ leadership skills can inhibit growth
- Shortages in drivers and other key staff can disrupt operations and lead to wage and benefits cost inflation
- Increased unionisation and/or poor labour relation presents increased risk of strike or operational disruption
|
- Major IT failure could disrupt operations and lead to loss of revenue, especially in the coach businesses
- Data compromise involving a loss of customer information could result in reputational damage and significant remedial costs
- Breach of the EU General Data Protection Regulation (GDPR) or the US California Consumer Privacy Act (CCPA) could result in a regulatory investigation and financial losses
|
- Direct impact through asset damage, disruption to operations and revenue loss
- Potential indirect impact from a general reduction in the public’s appetite to travel reducing demand and revenue
|
|
Management/mitigation
|
Management/mitigation
|
Management/mitigation
|
- The Group is committed to employee engagement and invests in a number of retention programmes
- Appropriate training is provided for managers and supervisors
- Reward and recognition programmes are established to further enhance employee engagement
- Focus on the effective management of stakeholder and union relationships, and the advice of specialist outside counsel is sought where necessary
|
- Continuous investment in organisational and technical measures to protect data assets
- Revised cyber security strategy aligned with the threat landscape (including the Covid-19 pandemic)
- Regulatory compliance plans in place, tailored to each division’s exposure (GDPR or CCPA)
|
- Close liaison with government agencies and industry partners
- Major incident/emergency plans are developed in all divisions
- Insurance coverage is available and in place for some terrorism-related risks
- Risk assessment of any new business growth opportunity
|
|
Opportunity
|
Opportunity
|
Opportunity
|
- Ensuring we have an agile, skilled workforce will enable us to adapt to emerging challenges and opportunities
|
- Strengthened resilience against cyber threats and IT outages increases awareness and leverage of technology across the Group
|
|
|
Change in risk in the year
|
Change in risk in the year
|
Change in risk in the year
|
- Higher unemployment levels in key markets due to the pandemic have led to lower pressures on recruitment, retention and cost inflation
- Established diversity and inclusion programmes
|
- The pandemic, and in particular the material rise in home-working, has led to an increase in remote access exploitations and phishing campaigns
- An adaptable cyber security programme supported improvements in our resilience and risk management
|
- UK Government threat level increased from ‘substantial to ‘severe’ in November (but returned to ‘substantial’ in February 2021)
- In Spain and the USA the threat levels have remained unchanged
|
