The recent FGS Global report highlights the growing concern over cyber incidents among UK business leaders.
- Approximately 85% of UK firms have weathered a crisis in the past year.
- Cybersecurity is the primary concern for 36% of senior executives.
- Only 36% of companies feel ready to address ransomware threats.
- Social issues and generational perspectives add complexity to leadership challenges.
The FGS Global report offers a stern warning about the increasing prevalence and unpredictability of crises affecting UK businesses. With over 500 senior leaders participating, the data reveals that an alarming 85% of firms have encountered a significant crisis within the last year. Such statistics underscore the pressing need for comprehensive crisis management strategies.
Cybersecurity has emerged as the foremost concern for business leaders, with 36% identifying it as a priority. The consultancy highlighted a worrying gap in understanding, particularly with new threats stemming from advancements in AI. This gap underpins the urgent need for businesses to bolster their cybersecurity frameworks.
Furthermore, the report uncovers that a mere 36% of companies consider themselves well-prepared to tackle ransomware attacks. These attacks remain a prevalent and daunting threat, further complicating the crisis landscape. This underlines the necessity for robust security measures and proactive risk management.
Social challenges present additional burdens for leaders, with nearly a quarter of businesses encountering serious allegations such as harassment or ethical misconduct. With new regulations under the Worker Protection Act, firms are compelled to take actionable steps to prevent sexual harassment, reflecting the evolving expectations on organisational conduct.
Generational differences also play a significant role in leadership challenges. The report indicates that social issues, including global conflicts and gender debates, are of greater concern to younger executives. Notably, 39% of individuals aged 18 to 34 highlight these as potential crisis triggers, compared to only 10% of their senior counterparts.
The FGS Global report emphasises the need for UK business leaders to enhance their crisis management and cybersecurity readiness in the face of evolving challenges.
