Resilience Barometer® Australia 2022
How Are Australia’s Business Leaders Building Resilience in the Era of Crises?
May 03, 2022DownloadsDownload Report
With Australia emerging less scathed from the pandemic than other global economies despite the continued challenges of Omicron, the chief concerns of Australia’s business leaders, and the perceived risks to their companies, are shifting. Companies are renewing their focus on a range of issues, from climate change and supply chain disruptions to skilled workforce shortages and intensifying geopolitical tensions.
This is according to FTI Consulting’s Resilience Barometer® Australia 2022, a survey[i] of 120 decision makers (senior management, board member or C-suite) in large companies[ii] across Australia. Our findings reveal how Australian companies are building resilience as they navigate a succession of crises under increasing public scrutiny, becoming more proactive in their risk management in areas such as Environmental, Social and Governance (ESG), data privacy and regulatory compliance.
Our Resilience Barometer® found Australian business leaders are:
- most concerned about climate change and the rate at which economies are tackling this issue, as extreme weather events become more common
- investing more in ESG, despite two thirds admitting they lack expertise to cope with increasing scrutiny in this area
- adjusting their approach to retain and attract top talent, with one in three experiencing workforce shortages in 2021
- expecting data privacy to attract the most media scrutiny on their company, as they navigate rapidly evolving global privacy regulations
- proactively managing fraud and financial crime risks, yet three quarters are willing to accept clients from high-risk jurisdictions.
The Resilience Barometer® Australia identifies the nature, severity and potential trajectory of these threats, which are forcing Australian business leaders to embed resilience on more fronts.
[i]: From 26 October to 10 November 2021, FTI Consulting conducted a global quantitative survey with 3,314 respondent profiles across all G20 countries.
[ii]: Large companies are defined as those with over 250 employees, or over USD50 million in annual global turnover, or with a balance sheet of over USD43 million
May 03, 2022
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