RISK RISK DESCRIPTION MITIGATION PLAN Section 4 - RISK MANAGEMENT (CONT’D) Cybersecurity breaches, for example, can damage a company’s reputation, which is difficult to insure against. The Group implements the Business Continuity Management (“BCM”) drill or testing, which focuses on IT infrastructure. No testing was conducted in 2023 and the Manager will get consultation to conduct the BCM drill and Disaster Recovery Programme (“DRP”) in 2024. Ineffective succession planning may affect Al- `Aqar’s operations if a critical role becomes vacant and cannot be satisfactorily filled before the vacancy has an adverse impact on the organisation. There is also the risk that the Manager will be unable to attract and retain a competent staff force to manage its portfolio and to execute its strategies for sustainable growth. The Group has a succession planning framework in place, which includes identification of future successors and leadership training for candidates of critical positions. Additionally, the strategic implementation of activities and processes are designed to decrease the likelihood of lengthy vacancies in critical roles and limit the impact of vacancies in critical roles when they do occur. The Manager also conducts climate surveys to gauge employees’ preferences, offers competitive reward and compensation, promotes flexible working arrangements, establishes clear career paths and encourages staffs to explore other areas within the Group. Cyber Security Breach Lack of Effective Talent Management Strategies MANAGEMENT DISCUSSION AND ANALYSIS 37 BUSINESS OVERVIEW 1 3 4 5 6 AL-`AQAR HEALTHCARE REIT ANNUAL REPORT 2023
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