Resilience Barometer COVID-19 Report
COVID-19 has tested businesses on all fronts. Despite the unprecedented government stimulus packages supporting economies across the globe, our global economy remains in distress – from negative GDP growth to rising unemployment rates and unparalleled levels of government debt.
The FTI Resilience BarometerTM COVID Report examines the impact these trends, and others, have had on large businesses in G20 nations. Protecting value and positioning their businesses to emerge even stronger. One such lesson will be ensuring that future escalations do not catch business leaders unaware. 40% of companies reported that their response plans were insufficient to deal with the pandemic and 90% are now placing greater emphasis on planning for unknown risks.
Real-time data insights have been the hallmark of resilient business during 2020 and will continue to be in 2021, allowing businesses to unpick the threats and challenges created by the disruption as they appear. Over three-quarters of G20 companies are now using artificial intelligence and analytics to monitor risk scenarios, resilient organisations are proactively taking steps to ensure they are prepared for what comes next.
Around the world, FTI Consulting professionals work closely with clients to anticipate and address the unprecedented business challenges arising from the risks featured in this report. As a result of the pandemic, for the first time since we began our research, we saw all 14 resilience scenarios activated at once. These 14 distinct scenarios are those most likely to negatively impact the bottom line, adversely affect the reputation and lead to increased regulatory pressure.