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Over 60% of Organizations Are in the Rebuilding and Resilience Phase of Coronavirus Recovery

Business improvement company BSI recently conducted a survey among business leaders in North America to better understand the ongoing impact of COVID-19 on organizations and evaluate their continuity efforts on the road to recovery.

The survey determined that while signs of optimism are evident, organizations are still struggling with business continuity and supply chain disruptions, more than six months in to the COVID-19 pandemic

This survey is the second in the BSI COVID-19 Pulse Survey series, which is designed to help identify organizational pain points caused by the pandemic and provide support on the journey through the next normal. The key themes explored in the survey included:

  • Business continuity preparedness
  • Employee health, safety, and wellbeing
  • Supply chain concerns
  • Remote work preparedness

“Our goal with these surveys is to not only gauge the pulse of the business community, but also to see where we can refine our content and efforts to help our clients, and the broader community, reopen and rebuild during this time of unprecedented change, and to provide them a path for future resilience,” said Tim Wren, Americas Commercial Director at BSI. “In fact, around the world, BSI has made available essential standards like ISO 22301 (the standard for business continuity management systems), as well as safe working guidance on redefining and reconfiguring the workplace for the next normal.”

Key Findings

  • BSI has identified four key phases of the pandemic response: survive, stabilize, rebuild, and resilience. Since the first survey in April 2020, organizations have made significant progress in adjusting to, and preparing for, the next normal, with 60 per cent reporting that they are in the recovery or resilience phase; nearly 8 per cent greater than in the first survey. The number reporting they are in the survival phase dropped by half, from 10 per cent to 5 per cent.
  • While employee safety and sales recovery remain chief concerns for business leaders, fears for the future, such as when a vaccine will be developed and the impacts of a potential second wave of COVID-19, as well as the overall health of the economy, are much more prevalent now than in April.
  • In addition, organizations reported they’ve become much more accepting of the fact that remote working does not appear to be going away any time soon; nearly half (47 per cent) expect at least 25 per cent or more of their workforce to continue to work remotely after the pandemic subsides – nearly double what the April survey showed.
  • However, due to remote working, 40 per cent of respondents also cited they are experiencing increased information security issues from phishing emails and VPN overload.
  • More than six months into the pandemic, more than half of all respondents are still experiencing issues in their supply chain at the manufacturing site and nearly 30 per cent of respondents are looking to make long-term changes to their supply chain including how materials are sourced and transported, underscoring the fact that organizations continue to experience ongoing, unresolved supply chain woes.

“The COVID-19 pandemic has had a substantial impact on people and communities, and organizations are facing significant disruptions and challenges. This is why BSI is working closely with governments, regulators, and organizations globally to share best practices and expertise to help them on their road to resilience.” said Wren.

Read the full release here.

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