Some interesting findings include:
- 54% of the respondents indicated the program has existed (with or without their involvement) for over 10 years.
- 41% noted that a full functioning executive/ leadership succession is in place.
- A majority of the respondents (23%) noted Risk Management as the department owner for the business continuity/ resiliency program and 69% of those individuals agreed that the program was best positioned for maximum visibility.
- 59% of the respondents noted a chief officer or above as the individual who was totally engaged and sponsoring the program within the company and 16% of those respondents indicated a Chief Risk Officer as the program sponsor. 82% indicated that their program sponsor at a zero or one level of separation from the executive management team.
- 32% never exercise their BC plans for mission critical third-parties.
- Budget line items increasing in the next year include full-time internal staff, consulting services, hot-site/ outsourced alternate site, software, notification/ alerts, training/ awareness, travel and personnel development.
- In regards to staffing, 71% manage personnel and the average number of dedicated program staff is 36.5 professionals. Furthermore, 29% plan on hiring additional program personnel in 2017.
- 40% noted estimated financial losses of $1M per hour of downtime for 72+ hours.
- 53% indicated that the estimated financial losses are traced to insurance policies and coverages.
- 33% are planning on consulting initiatives in 2017.
Data collected between November 3, 2016 - January 23, 2017.
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Sample Industry Benchmarking Report (2017)
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