RWS AR 23 Final Single pages - Flipbook - Page 65
protect us and our stakeholders. We report against the
SASB, TCFD and GRI frameworks and are a signatory of
the UN Global Compact Initiative.
RWS’s Agile Work Practices policy was implemented
in FY23 and provides colleagues with options for
balancing their work and personal life, and in support
of improved productivity. These options include the
ability to job-share, start and 昀椀nish at di昀昀erent times,
and even work from varying locations depending on
personal circumstances. We are investing appropriately
in technology to support more 昀氀exible working options.
In May 2023 we updated our Group-wide Company
Code of Conduct which is available on the Company
website , together with our Speak-up Policy which was
also updated in the year.
Cyber
Protecting RWS’s clients, our colleagues, and RWS’s own
data and operations is extremely important. Security
of data is understandably a concern to all our clients,
who frequently require RWS to demonstrate strong
and e昀昀ective security controls, including technical
prevention and detection measures. Accordingly, RWS
is certi昀椀ed to ISO27001– the industry standard for
information security management.
Information security is an enterprise risk that is
monitored by our Board of Directors. The Company
continues to invest in new security technologies
and services to counter the constantly changing
threat landscape. RWS engages with leading thirdparty security service companies, utilising the latest
technology to provide 24x7 detection and response
capabilities across all systems. All our colleagues
undertake regular information security and data privacy
training and receive frequent security awareness
communications to ensure security is embedded in
everyday activity.
The Board oversaw the Group’s response to the cyber
incident which occurred in April 2023. Following the
detection of unauthorised external access to a legacy
project management work昀氀ow application which
supports a small part of the Regulated Industries
division, the Group immediately enacted contingency
protocols, temporarily shutting the application down
and appointed external cyber security experts to
investigate the circumstances and scope of the incident.
It was con昀椀rmed that evidence of unauthorised access
was restricted to the application concerned. The
individuals and organisations that could have been
a昀昀ected were contacted, advised of the steps they
should take and, where appropriate, o昀昀ered support.
The Group also took steps to comply with relevant
regulatory obligations and as part of this noti昀椀ed
the UK's Information Commissioner's O昀케ce. The
application was securely restored.
Strategy
The Group developed its medium-term strategy in the 昀椀rst
half of FY22, launching it to investors at a Capital Markets
Day in March 2022, and then progressively to other
stakeholders, including a full internal launch to colleagues.
During FY23 components of that strategy were reviewed
in light of progress and the changing macroeconomic
environment. To support this, the Board approved a
programme of work, with a senior internal team leading
its development, supported by external advisors. Regular
progress updates were presented to the Board through
the year ahead of a dedicated meeting to review and
discuss outcomes.
In respect of engaging colleagues, a greater focus
was given during the year to making strategy more
relatable. Alongside an increase in the frequency of allcolleague virtual town halls and their regular cadence
in divisions and functions, the content of these updates
was simpli昀椀ed and in the second half of the year, the
Group adopted the acronym EDGE, standing for E昀케cient
Delivery, Growth and Engagement, to bring additional
clarity to the priorities that all colleagues should be
focusing on. Town halls always feature a Q&A section,
allowing for two-way dialogue, and we published new
pages on the Company’s intranet which summarise
our strategy and provide answers to a set of the most
commonly asked questions. In parallel, the Board
continued to work on ensuring that the RWS values,
"We partner, we pioneer, we progress, we deliver" were
further embedded across all areas of our organisation,
supporting the embedding of our One RWS culture.
Our strategy requires that our commercial functions are
clearly aligned to client segments with di昀昀ering needs.
During the year, the Board oversaw a programme to
improve the Group’s sales e昀昀ectiveness, with a sharpened
focus on measurement and KPIs associated with sales
activity and a more consistent approach to account
management. Divisional presidents regularly attend Board
meetings to update on progress in relation to growth,
sales and account development.
Ian El-Mokadem | CHIEF EXECUTIVE OFFICER
11 December 2023
STRATEGIC REPORT
RWS Holdings plc — Annual Report 2023
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