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C-Suite Confidence in Resilience is High – But is it Realistic?

April 21, 2023 Leave a comment DRI Admin

The good news: organizations value resilience more than ever before. Now the bad news: business leaders may be overestimating just how resilient their organizations actually are.

PwC’s bi-annual Global Crisis and Resilience Survey polled 1,812 respondents worldwide to learn how heads of business are preparing for today’s threats. When asked to rank the importance of resilience as a corporate priority, a full 89% said it was one of their most important.

The research points to a “resilience revolution” embraced by many companies, but not all at the same level. The three trends driving this revolution:

Integration – Businesses are actively moving to from silos to an integrated approach, centrally governing and aligning multiple resilience capabilities around what matters most;

Leadership – 93% have established a C-suite sponsor for their resilience programs, which is a key driver to program success, and

Program – Leaders are prioritizing investments based on what’s critical to the organization, allowing them to manage risks with high reliability and to drive efficiency.

While 70% of business leaders are confident in their ability to recover from various disruptions – only one in five has moved toward a resilience program that has fully integrated these three driving trends.

How should organizations move forward? The report recommends five ways to move towards a more integrated program:

  • Establish executive sponsorship for the program
  • Identify and map critical business capabilities and dependencies
  • Build an integrated enterprise resilience program of cross-functional teams
  • Establish a “panoramic” view of your risk landscape that includes weak signals and other key indicators for resilience, and
  • Fortify your resilience strategy with technology and regular testing and exercises.

Click here to download the report.

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