Global Resilience Survey 2020: Findings Report
Global Resilience Survey 2020: Findings Report
Now is the time to actively build your resilience capabilities
Now sit back and think: where does your business lie on the resiliency continuum? How can you build upon the momentum from your success to further strengthen business resiliency? A strong resilience strategy gives organisations the ability to detect, identify, and respond to risks – giving them the confidence to take informed risks, capitalize on opportunities, and gain a competitive advantage. So how do you get there?
Fig.8
Use of KPIs varies significantly by geography and sector
Has your organisation established KPIs and/or a set of metrics used to audit, monitor and evaluate your organisation’s resilience performance or level of maturity?
First, look back. Bring your resilience functions and teams together and take an honest, deep look back at your corporate COVID-19 response. How did your corporate level respond and was the support provided to subsidiaries useful? How did your key country programmes deal with the crisis? How was the intra-company coordination and coordination with external stakeholders? What workarounds and new systems did you put into place that you want to keep and are they fully compliant?
Europe average 27.0 %
FS sector average 53.8 %
Global average 39.3 %
Second, set short- and mid-term action plans to build your resilience capabilities. It’s not just a question of adding resources to a resilience programme -- only 28% of businesses believe that increasing their resilience budget would strengthen their ability to withstand major disruptive events. Instead, it’s a question of strengthening employee knowledge of crisis management practices (48%), strengthening internal communication (35%) and getting more executive teams and Boards to buy-in (31%) to raising the status and impact of corporate security and CM departments. We highlight the importance of gaining executive buy-in now, after a massive crisis has hit and the clear and continued value of strong CM, BCM, and Corporate Security programmes are fresh in everyone’s minds. Now is also the time to ensure that your data backup and retention capabilities are up to date, given the increase in ransomware and other cyber attacks. Finally, practice makes perfect. If there was one major lesson from COVID-19, it was that we learn best by doing . At this point, most companies have well-seasoned, cross-functional leadership and crisis management teams. Continue to build their capability through simulating complex crisis scenarios that incorporate left-field incidents, risks, and/or threats. Don’t only focus on more frequent incidents such as a ransomware attack or a building fire, but use the recently expanded response capabilities to stretch into more complicated scenarios such as an increase in public activism targeting your company, or an insider risk combining human and cyber threat vectors. Then, incorporate the lessons learned through these practice sessions (as well as any real-life incidents you or your peers may experience) to further strengthen your capabilities.
Tech sector average
North American average 45.6 %
33.3 %
Source: Control Risks
“Aligning risk with a resilience methodology gives a company the flexibility and elasticity to proactively deal with protracted, complex and evolving crises.” Mark Whyte Partner, Control Risks “
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