MissionMode launched our Benchmarking Survey in September 2014 to help companies rate themselves on a number of business continuity key success factors and determine their overall Readiness Number. The Readiness Survey is just one component of our Customer Readiness Commitment aimed at helping our clients improve the maturity of their business continuity programs. Preliminary results are now in — hundreds of organizations have taken our survey and the average readiness index is just 58!
The survey covers a wide variety of BCM program success factors, including:
- Team composition and executive support
- Planning effectiveness
- Training and testing of plans
- Risk assessment processes
- Response effectiveness
- Availability of support tools
- Program Measurement / KPIs
As indicated in the chart below, 32% of respondents scored between 0-50 indicating that they are very or somewhat unprepared. 47.4% received scores between 51-75 suggesting that they are moderately ready and only 21% scored over 76 to put them into the “well prepared” quadrant.
Planning and Training Readiness
One of the biggest gaps identified is in the areas of planning and training. 7% of respondents report having no business continuity plans in place. Another 22% report having preliminary plans drafted but not trained, and 32% have some, but not all of their plans developed and trained. MissionMode suggests a disciplined approach to planning. Programs that fully develop and train business continuity plans for their top priority event types before moving on to lesser priority events tend to reach program maturity faster than organizations that try to cover too much too fast.
The top reported events that business continuity teams prepare for include:
- Severe Weather
- IT Issues (outages, breach, virus…)
- Power Outages
- Natural disaster (flood, earthquake)
- Physical Violence
- Product delivery/quality
If you’re organization is just getting started or struggling with priorities, it’s better to do a few things well than to try to tackle the whole list.
Use of Collaboration Tools
Another key finding from our Readiness Survey was around tools and processes. While 40% of companies report having plans in place and trained, less than 20% have collaboration tools in place to facilitate communication and simplified incident management. We saw significant correlation between companies reporting use of emergency notification and incident management systems and those receiving overall high Readiness Numbers. Companies that have invested in collaboration tools for business continuity tended to report:
- Higher levels of executive sponsorship
- More event types planned/trained
- More effective event resolution
- Higher likelihood to optimize their plans based on actual results
How to Use This Information
Wondering how your business continuity program stacks up? Take the MissionMode Readiness Survey and find out. In addition to getting your Readiness Number, you’ll receive useful tips and information on ways to improve your program effectiveness. MissionMode helps companies of all sizes improve overall resiliency with systems and support. Call us today at 877-833-7763 to schedule a demo and learn more about our Customer Readiness Commitment.