New global study: 1 in 2 UK executives experiencing "resiliency gap"

SAS launches Resiliency Assessment Tool to provide rapid business assessment

Despite three straight years of ongoing disruption and economic ambiguity, when it comes to resiliency, 56% of UK executives admit their company is not where it should be. This is among the top findings in a global business survey report by analytics leader SAS. The Resiliency Rules Report explores the current state of UK business resiliency and what steps companies are taking to navigate change and seize opportunity.

To complement the report, SAS has developed a new Resilience Assessment Tool. The free, online assessment tool enables business leaders to appraise their own company’s resiliency quotient based on the five core “resiliency rules” explored in the study.

Between rhetoric and reality

SAS surveyed 2,414 senior executives at companies around the globe with more than 100 employees. Among the UK respondents, 62% of executives are optimistic about the future of their country’s economy, and 86% are confident about achieving resiliency within their organisation. Yet 79% admit they need guidance to implement an effective resiliency strategy. The research also indicates a resiliency gap between the importance executives place on resiliency, and how resilient their organisations actually are.

According to the survey data:

• Nearly all (99%) executives believe resiliency is very or somewhat important, yet less than half (44%) perceive their company as resilient.
• More than half (57%) admit they are not fully equipped to face disruption and struggle in addressing challenges such as data security (60%), productivity (57%), and driving digital transformation (54%).

While the resiliency gap is today’s reality, 86% of respondents indicate they believe resiliency is attainable with the right guidance and tools. And 90% of the respondents see data and analytics as critical tools for a resiliency strategy.

“Organisations must think beyond having some resiliency. They need protection from existential threats that could potentially wipe them out overnight, and we’ve seen examples of this recently in the banking sector. We want to help executives across industries use data and analytics to build a truly sustainable resiliency strategy,” said Roderick Crawford, Senior VP, SAS Northern Europe.

“By taking the Resiliency Index, the research and assessment tool we have just launched, organisations can identify areas of existing strength and areas where growth is possible. That insight will help them close gaps and strategically fortify the tools and systems that make them agile in the face of challenges and disruption, as well as helping ensure their long-term survival.”

The five Resiliency Rules and the necessity of data and analytics

SAS identified five principles instrumental to maintaining and strengthening business resiliency:

1. Speed and agility.

2. Innovation.

3. Equity and responsbility.

4. Data culture and literacy.

5. Curiosity.

Referred to as the five Resiliency Rules, SAS’ research examined how executives prioritise and implement each. One thing was clear: high-resiliency executives place higher value and invest more than low-resiliency executives in each area. This was consistent in the responses across country and industry segmentations, indicating executives view these as fundamental components for a resiliency strategy.

A key takeaway from the executive research is the critical role of data and analytics in implementing the Resiliency Rules. Nearly all high-resiliency UK executives (86%) prioritise analytics and AI to inform decision-making, which is key for navigating change and ensuring business continuity. The highly resilient business executives claimed to have success addressing data security concerns (62% vs. 18% low resiliency).

Behind the Research: SAS introduces the Resiliency Index

For the study, SAS created an assessment methodology called the Resiliency Index to understand where resiliency fits into executives’ priorities and investments. SAS categorised UK respondents into three categories:

• High resiliency: 23%
• Moderate resiliency: 60%
• Low resiliency: 17%

Comparing the business practices of each, high-resiliency executives view having a structured strategy integral because it addresses more than managing disruption but plays a part in business stability. A resiliency strategy impacts key business metrics including job performance and consumer confidence.

Learn from high-resiliency executives

Helping companies close the resiliency gap starts with getting the right data and analytics in the hands of executives. SAS has launched its Resiliency Assessment Tool as a free tool based on the Resiliency Index for anyone to conduct their own business assessment and action planning. This tool, along with insights from the high-resiliency executives in the report, delivers practical guidance for fostering greater business resiliency. 

“The SAS AI/ML platform continues to play a critical enabling role as we transform our manufacturing and commercial practices,” said Steve Bakalar, Vice President of IT Digital Transformation at Georgia-Pacific. “SAS’ Resiliency Assessment Tool research resonates loudly against the methods and strategies we are driving.  All five principles are essential components to embed resourcefulness and resiliency into organisations that seek to flourish in these very challenging and rapidly changing business conditions.”

View the full UK Resiliency Rules Report to find out more and use the Resiliency Assessment Tool to assess how resilient your organisation is.

About the research methodology

• SAS conducted in-depth interviews with business leaders in Brazil, France, Germany, India, Japan, UK, Benelux, Iberia and United States in November to understand senior executives’ perspectives on business resiliency and their approaches to leadership during volatile times.
• A proprietary online survey was conducted with 2,414 senior executives working full-time within financial services, retail/consumer goods, manufacturing, healthcare/life sciences, or government from Dec. 16, 2022, to Jan. 4, 2023, in the aforementioned countries.