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Navigator – Resilience: building back better

A picture of challenge and change

Businesses are living through the biggest global crisis in a generation.

To understand how it’s affected them, including their plans for the future, we surveyed more than 2,600 companies globally as part of our annual Navigator research.

The results paint a picture of challenge and change. While 98% of businesses have felt the impacts of the crisis, 65% have been agile and stable enough to be resilient. And many see the crisis as a catalyst for change and long-term growth.

The insights in the Resilience report will help you grasp those opportunities while overcoming the challenges.

Why not get ahead today?

Navigator – Building back better

Australian findings from the Navigator survey below

Resilience unwrapped

Our research revealed a common understanding among businesses of all sizes and sectors of the building blocks of resilience.

They are:

  1. Pulling through by pulling together – with customers, employees and other businesses
  2. Building agility through a collaborative, people-first culture.
  3. Using technology to build that culture and grow the company.
  4. Seeing sustainability as vital for resilience today and growth tomorrow.
  5. Using closer relationships with suppliers to build a secure and transparent supply chain.

How is your business building resilience?

Resilience is the result of many factors

Companies of all sizes and sectors agree there’s more to resilience than a strong balance sheet.

33%

of your peers see employee morale as the biggest barrier to resilience in the next six months

What drives resilience?

50%

Valuing customers

49%

Treating employees well

47%

Adapting fast to external events

41%

A strong balance sheet

What will be the biggest barriers to resilience in the next six months?

62%

Finances

62%

Workforce

37%

Technology

Closer working will make supply chains more secure

Businesses are using closer relationships with suppliers to gain more control and build transparency. Business in Australia are slightly ahead of the global average when implementing changes to their supply chains.

16%

of Australian businesses compared to a quarter (26%) across all markets surveyed are operating as normal and considerably more during the disruption caused by COVID-19

26%

of these companies operating in international markets were less ready for the business interruption caused by the pandemic

How can you prioritize supply chain security? Your peers are:

68%

of Australian firms are now focussed on improving supply chain security

44%

are aiming to increase transparency of their supply networks

31%

are diversifying supply networks to work with more suppliers

Technology will continue to be critical

While technology has kept many businesses going, its longer-term value will lie in supporting a more responsive, collaborative culture.

63%

of businesses are preparing for future uncertainty by adopting technology or investing in innovation

Companies prioritize technologies that will enable them achieve their future goals

25%

Tools that enable collaboration through virtual meetings

23%

Tools that enable digitised production processes

9%

Tools that enable digital payments

Sustainability is taking centre stage

Businesses increasingly view sustainability as integral to their operations. Like technology, it both builds resilience and offers long-term opportunities for growth.

85%

of businesses see environmental sustainability as a priority

9 in 10

see transformation as an opportunity to prioritise sustainability

Where will the pressure come from to be more sustainable in the next 1-2 years?

92%

External sources, including customers and investors

75%

Internal sources, including employees and business leaders

54%

Regulators, including from industry and government

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