New study finds 56% of UK executives not resilient enough, but SAS has a solution
A recent survey conducted by SAS, a global analytics leader, has shown that more than half of UK executives admit their companies are not resilient enough, despite ongoing disruptions and economic ambiguity over the past three years. This finding is part of a larger global survey called the Resiliency Rules Report that looks into the current state of business resilience in the UK and what measures companies are taking to overcome change and seize opportunities. To complement this report, SAS has created a free Resilience Assessment Tool to help business leaders appraise their own company’s resilience quotient.
Key Takeaways:
- 56% of UK executives admit their company is not where it should be in terms of resiliency.
- There is a resiliency gap between the importance executives place on resiliency and how resilient their organisations actually are.
- SAS has identified five principles that are fundamental to a resiliency strategy: speed and agility, innovation, equity and responsibility, data culture and literacy, and curiosity.
The study surveyed 2,414 senior executives at companies worldwide with over 100 employees. Among the UK respondents, 62% of executives are optimistic about the future of their country’s economy, but 79% of them admit they need guidance to implement an effective resiliency strategy. While 99% of executives believe resiliency is important, less than half (44%) perceive their company as resilient. The research also revealed that executives struggle in addressing challenges such as data security (60%), productivity (57%), and driving digital transformation (54%).
SAS’s Resilience Assessment Tool aims to provide guidance for executives to build a truly sustainable resiliency strategy. The Resiliency Index, SAS’s assessment methodology, has identified three categories for UK respondents: high, moderate, and low resiliency. SAS recommends that executives focus on five principles instrumental in maintaining and strengthening business resiliency. This includes the importance of data and analytics as critical tools for a resiliency strategy. According to the survey, 86% of high-resiliency UK executives prioritise analytics and AI to inform decision-making, which is key for navigating change and ensuring business continuity.
To learn more about the Resiliency Rules Report and SAS’s Resilience Assessment Tool, visit their website.
About SAS
SAS is a leader in analytics and empowers and inspires customers worldwide to transform data into intelligence. Their innovative software and services give customers THE POWER TO KNOW®.
About the research methodology
SAS conducted in-depth interviews with business leaders in Brazil, France, Germany, India, Japan, UK, Benelux, Iberia, and the United States in November 2022 to understand senior executives’ perspectives on business resiliency and their approaches to leadership during volatile times. A proprietary online survey was also conducted with 2,414 senior executives from Dec. 16, 2022, to Jan. 4, 2023, working full-time within financial services, retail/consumer goods, manufacturing, healthcare/life sciences, or government from the aforementioned countries.
Making the right investments in resiliency can help businesses not only survive but also thrive in the face of disruption and uncertainty. The SAS Resiliency Assessment Tool and Resiliency Rules Report can be valuable resources for companies looking to assess and improve their resiliency quotient.
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