A picture of challenge and change
Businesses are living through the biggest global crisis in a generation.
To understand how it's affected them, including their plans for the future, we surveyed more than 2,600 companies globally as part of our annual Navigator research.
The results paint a picture of challenge and change. While 98% of businesses have felt the impacts of the crisis, 65% have been agile and stable enough to be resilient. And many see the crisis as a catalyst for change and long-term growth.
The insights in the Resilience report will help you grasp those opportunities while overcoming the challenges.
Why not get ahead today?
Navigator — Building back better
Resilience unwrapped
Our research revealed a common understanding among businesses of all sizes and sectors of the building blocks of resilience.
They are:
Pulling through by pulling together — with customers, employees and other businesses.
Building agility through a collaborative, people-first culture.
Using technology to build that culture and grow the company.
Seeing sustainability as vital for resilience today and growth tomorrow.
Using closer relationships with suppliers to build a secure and transparent supply chain.
How is your business building resilience?
Resilience is the result of many factors
Companies of all sizes and sectors agree there's more to resilience than a strong balance sheet.
33%
of your peers see employee morale as the biggest barrier to resilience in the next six months
What drives resilience?
What will be the biggest barriers to resilience in the next six months?
Businesses are concentrating on culture
Capturing the positive changes from the crisis and putting people first will help businesses become more agile.
49%
Treating employees well is among the key characteristics of a resilient business
4 in 5
businesses have become closer to their employees, customers and suppliers
How do your peers expect technology to change the way they work in the next two years?
57%
More virtual internal and external meetings
37%
Remote working becoming the norm
27%
Operating out of multiple locations
Technology will continue to be critical
While technology has kept many businesses going, its longer-term value will lie in supporting a more responsive, collaborative culture.
63%
of businesses are preparing for future uncertainty by adopting technology or investing in innovation
Companies prioritise technologies that will enable them achieve their future goals
25%
Tools that enable collaboration through virtual meetings
23%
Tools that enable digitised production processes
9%
Tools that enable digital payments
9%
Tools that enable cyber security
Sustainability is taking centre stage
Businesses increasingly view sustainability as integral to their operations. Like technology, it both builds resilience and offers long-term opportunities for growth.
85%
of businesses see environmental sustainability as a priority
9 in 10
see transformation as an opportunity to prioritise sustainability
Where will the pressure come from to be more sustainable in the next 1-2 years?
92%
External sources, including customers and investors
75%
Internal sources, including employees and business leaders
54%
Regulators, including from industry and government
Closer working will make supply chains more secure
Businesses are using closer relationships with suppliers to gain more control and build transparency.
93%
of companies have supported the businesses they work with
67%
want to make their supply chain more secure over the next 1-2 years
How can you prioritise supply chain security? Your peers are:
31%
Identifying and securing critical suppliers
30%
Reviewing the suppliers' ability to withstand future uncertainty
Navigator: Perspective from Asian businesses
Stuart Tait, Regional Head of Commercial Banking, Asia-Pacific, HSBC talks about how Asian businesses are embracing change through resilience, supply chain management and digital solutions.
Resilience and preparedness
What makes a business resilient? Agility, customer focus and sustainability to future-proof your business.
Supply chains and sustainability
COVID-19 has exposed weak links in supply chains. What are Asian companies doing to secure their supply chains to weather future challenges?
Digitisation
What’s the key learning for Asian companies from COVID-19? The need is to embrace change from digital solutions.
Navigating Business – Asia Pacific Series
All industries and sectors across the world have been uniquely disrupted by COVID-19, causing companies to revisit their strategies as they look to react to the current environment and plan for the future. In this Navigating Business Series we interview HSBC experts as they provide insight around sector outlooks, opportunities for multinationals and investments and the future of trade. This series includes 6 episodes split across 3 thematics:
Sector Outlooks (Fred Neumann, Co-Head of Asian Economics Research, HSBC)
- Sector Outlook: Technology, Healthcare and Education
- Sector Outlook: Tourism, Apparel and Automotive
Opportunities for Multinationals (Sandeep Uppal, Global Co-Head of International Subsidiary Banking, HSBC)
- International Businesses: Globalisation in transition
- Reshaping Global Business Strategies
Future of Trade (Ajay Sharma, Regional Head of Global Trade Solutions, Asia Pacific, HSBC)
- Understanding Supply Chain Risk and Disruption
- The Future of Trade: Emerging Technology and Sectors
