In our third annual survey of Organizational Resilience, senior executives reveal how they feel about every aspect of their resilience in our Organizational Resilience Index 2019.
More than 800 senior leaders from organizations around the world, in multiple sectors, have rated their business on 16 core elements that should be considered as part of a resilience strategy.
Key Findings include:-
- The ability of businesses to adapt to change has fallen for the first time due to market turmoil - senior leader confidence in Organizational Resilience has fallen three points, down to 75 per cent.
- Technological change is both the greatest opportunity and most severe threat to corporate adaptation - the gap between impact and performance for Innovation, Horizon Scanning and Adaptive Capacity are growing.
- Strong leaders are needed to adapt strategy to changing conditions - staff engagement, clear direction and business performance are now valued more strongly than innovation and political acumen as key leadership skills.
- Corporate attitudes to sustainability must shift to retain talent - concerns over employee turnover have risen five per cent year on year, while staff engagement is one of the lowest ranked factors.
- Ethical accountability is encouraging a focus on supplier governance - Australia, India and the UK's shared commitment to regulation supported by common standards are seeing these countries open a supply chain lead over others.
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Relevant parts of the following collective best practice standards have been merged to create the 16 core elements:
- Guidance on Organizational Resilience (BS 65000)
- Organizational Governance (BS 13500)
- Information Security (ISO/IEC 27001)
- Security and Resilience – Organizational Resilience (ISO 22316)
- Risk management. Principles and guidelines (ISO 31000)
- Supply chain risk management. Supplier prequalification (PAS 7000)
- Environmental Management (ISO 14001)
- Business Continuity (ISO 22301)
- Quality Management and Customer Satisfaction (ISO 9001)
The world's first Organizational Resilience Index Reports in 2017 and 2018 are now providing change and trend indications with the publication of the third annual report in 2019. The report covers the 16 elements of Organizational Resilience, defining senior executive responses to:
- perceptions of organizations’ performance across the 16 elements
- perceived importance of these 16 elements to the future success of their business
- insight into how perceptions differ by sector, geography, size and longevity
- identification of trends and future challenges