The concept of organisational resilience is more relevant today than it has ever been. The pandemic has validated organisational resilience in companies, giving them a real-world analysis of their approach.

Resilient companies can avoid bad situations or reduce the damage, operate optimally under stress, and bounce back when hit by unwanted situations. In time, the resilience of an organisation will be a major differentiator between those who will endure and those who will not.

A recent survey from Deloitte revealed that resilient leaders could navigate their organisations successfully during the 2020 crisis by making necessary investments in cultivating a resilient culture.

85% of CXOs whose organisations successfully balanced short- and long-term priorities effectively adapted to the COVID-19 disruptions.

Let’s take a deeper look at what organisational resilience is and why it is more important than ever for businesses today to become resilient.

What is Organisational Resilience?

As opposed to risk management, organisational resilience is a more holistic approach towards company health, with or without an impending disaster. Organisational resilience is not a protocol to follow in the case of an emergency, but it is a set of values to instill in day-to-day operations.

In a business context, resilience is an organisation’s capability to anticipate, prepare, adapt, and respond to intermittent changes and sudden disruptions to prevail and prosper. Resilience is about acting beyond risk management and taking proactive measures before the case for change becomes evident.

Organisational resilience is both defensive and progressive and calls for consistently practising the best and most agile strategies concerning your objective. Building organisational resilience starts with asking the right questions and forging the right environment.

The Impact of Non-Resilience on Your Business

Non-resilient organisations can experience several friction points during a crisis or a short-term disruption. Here are some of the key areas where this impact is more significant.

Impact on Team Morale

Setbacks in a business ecosystem occur periodically. However, frequent complications and drawbacks can be quite unnerving and aggravating for employees. A resilient approach gives employees a sense of purpose with the surety that their work will make a difference and not be wasted.

Impact on Client Relations

Businesses cannot afford to lose valuable clients and customers due to unpreparedness, bad service, or disruption in collaborative activities. Building resilience involves the preparedness to overhaul communication and give clients unwavering smooth experience, even during a challenging environment. This quality builds trust and signifies the business’s alertness towards sudden transitions and risky variables.

Impact on Revenue

Organisations often take time to recover from any obstacles they happen to come across. If not avoided or recovered promptly this can result in lost opportunities, time, and revenue. A resilient company acquires the ability to quickly recover from such obstacles and move forward, avoiding missed opportunities.

For More read please follow the link -  A Primer on Organisational Resilience