Why businesses need resilience

Recent research by MHR International shows the challenges mid-size UK and Irish companies are facing in today’s VUCA (volatile, uncertain, complex and ambiguous) world. Over 500 senior leaders from businesses employing between 500 and 5000 people were interviewed to find their views on the importance of resilience in dealing with change and challenges. The major threats they saw were the expectations surrounding their businesses growth as they compete against multinationals and of staying ahead of agile start-ups.

Recessions and financial crisis are of course not strangers to long-established companies but the pandemic brought unforeseen and previously unknown challenges. Now, businesses face another set of problems including the cost-of-living crisis and the war in Ukraine. 

Many businesses came though the pandemic and will now deal with these new challenges because they are resilient and have the ability not only to deal with change but also to use the experience as a catalyst for further development.

So, in the short term, a resilient business will get through challenging periods but then in the longer term they will start to see a positive impact on productivity and work quality as well as improved employee engagement, performance and an inclusive and secure work culture.

There is no doubt there will be tough times ahead but a resilient business will not just survive, it will thrive.