A new report by MHR International has revealed that businesses with higher resilience performed better than other organisations.
An organisation’s resilience can prove fundamental in a number of ways as it can ensure a business stays afloat, something that has been more critical than ever over the past 18 months, as well as help to engage a workforce.
Now new data has identified that there are performance gaps between organisations with different levels of resilience.
In a report launched by MHR International, almost all HR professionals surveyed (93%) claimed that workplace resilience is a priority, however, huge gaps in performance productivity, competitiveness and other crucial capabilities exist between businesses with highest and lowest levels of resilience.
As part of the study, three key dimensions of workplace resilience were explored. These include organisational resilience, employee resilience, and process resilience.
MHR’s findings have shown how companies in the top-ranking quartile for workforce resilience are performing better than other organisations in almost every aspect – from customer satisfaction to brand reputation and agility.
It revealed that 82% of the most resilient companies surveyed stated that they are better than their competition for delivering customer satisfaction.
80% shared that their employees are more productive compared with 16% of companies who rated themselves with lower levels of resilience.
Elsewhere, 76% of the most resilient firms rated themselves much better than their competition when it comes to brand reputation and 69% said that their new business win-rate is rated better than their competitors.
Anton Roe, chief executive officer (CEO) of MHR, noted that now more than ever there is a “necessity” for businesses to be able to adapt and evolve.
“By equipping themselves with the tools to plan ahead, businesses can put plans in place to use a flexible mix of permanent and contingent resources to provide agility to adapt to any shifts in their business model,” Roe said.
“However, it is important to retain internal cohesion to offer a sense of common purpose and focus through periods of change. Ultimately, having a workforce with strong employee resilience is the catalyst for organisations to be able to adapt to today’s ever-changing world and meet demands in the future.”
Roe pointed out that for this to be successful, businesses need strong leadership and a nurturing culture, as well as good communication, the right tech and an extensive skills base.