The Continuity and Resilience Report 2024, launched by the BCI and sponsored by Riskonnect, reveals that as organizations better define ‘resilience’, business continuity is returning to its foundational principles. The report, based on surveys and interviews with resilience professionals, indicates that business continuity roles are becoming more operational, focusing on minimizing internal impacts during disruptions, developing response and recovery plans, and testing these strategies—traditional aspects of business continuity, particularly evident in African and Asian regions.
A notable shift is the increasing attention to resilience at the board level. While less than a quarter of respondents have a board-level resilience champion, 40% report having a dedicated individual, such as a Chief Resilience Officer, advocating for resilience initiatives. This heightened focus is leading to greater financial and resource investments in resilience, driven by the recognition of its competitive advantages and the necessity to comply with operational resilience regulations, especially in light of recent crises.
The report also highlights a shift in the skill sets desired for business continuity managers, with a growing emphasis on softer, people-oriented skills over traditional hard skills. Attributes such as extensive experience and the ability to see the bigger picture are now prioritized. Additionally, the use of AI in resilience activities is on the rise, although traditional technologies remain prevalent. Looking forward, the report suggests a trend towards people-focused, adaptive plans, with a significant majority (86.9%) of respondents believing that resilience will gain further importance among senior management in the next five years.
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