- 9 in 10 organisations report they’ve experienced multiple major disruptions
- 76% of organisations said disruptions had medium/high impact on operations
- 70% confident in ability to recover from disruptions, but many lack foundational needed resilience for success
LONDON, 6 April 2023 — PwC’s bi-annual Global Crisis and Resilience Survey reveals organisations and business leaders overestimate their resilience despite operating in an age of disruption.
Data from 1,812 respondents worldwide provides insights into how business leaders are preparing for – and responding to – this new world. When asked where resilience falls on the list of corporate priorities, nine in ten (89%) respondents said resilience is one of their most important strategic organisational priorities – indicating organisations are creating a resilience revolution.
After a tumultuous start to the decade, it is unsurprising that nine out of ten (91%) organisations report that they have experienced at least one disruption other than the Covid-19 pandemic. On average, organisations experienced three-and-half disruptions in the last two years. Three-quarters (76%) said their most serious disruption had a medium-to-high impact on operations – disrupting critical business processes and services and causing downstream financial and reputational issues.
The top five reported disruptions include: the global Covid-19 pandemic, employee retention and recruitment, supply chain, technology disruption or failure, and cyber attack. Excluding the pandemic, supply chain disruptions had the greatest impact on organisations – monetary or otherwise – and they have doubled since 2019, according to the report. More than half (60%) of organisations whose most serious disruption was supply chain related, were most concerned about experiencing a similar disruption again.
David Stainback, Co-leader of PwC’s Global Centre for Crisis and Resilience, PwC US, said:
