New report shows that boards are prioritizing resilience
- Published: Wednesday, 10 November 2021 08:37
Women Corporate Directors (WCD) and Castellan have released a joint report to highlight the results of a survey which assessed the extent to which corporate boards are prioritizing operational resilience and business continuity-related issues.
According to the report, 60 percent of directors stated that operational resilience and business continuity is ‘consistently a board priority’, while another 30 percent said it is a ‘greater board priority, post 2020’. Furthermore, 44 percent of directors agree that every board member is responsible for operational resilience and business continuity, rather than solely those who serve on the Risk or Audit committees.
The report outlines the top three operational resilience and business continuity-related threats for boards and companies as well as the strategic opportunities and investments being planned to strengthen programs and planning in this area. As a result of the top threats cited, 70 percent of directors expect to increase investment in operational resilience and business continuity processes and practices. Cybersecurity, new technology adoption, and human capital management were deemed the greatest risks, strategic opportunities and key drivers for future investment plans.