Archived Insight | August 20, 2024
By Karen Chavez
Organizational resilience is the ability of an organization to adapt to changes, both expected and unexpected. Key characteristics of resilient organizations include the ability to anticipate, prepare, respond and adapt to changes.
Being resilient is particularly advantageous when projects take longer than anticipated. An example is implementing a Pension Administration System, which, on average, takes 44 percent longer than projected.
The relationship between building organizational resilience and successful change management is discussed in an article published in the Summer 2024 issue of PERSist, the newsletter of the National Conference on Public Employee Retirement Systems (NCPERS), which you can access from this page, with permission from NCPERS.
The article covers:
Organizational resilience is about building and maintaining robust and adaptive teams that can navigate through challenges and emerge stronger on the other side.
In the NCPERS 2024 Public Retirement Systems Study, two of the top trends in business practices are updating or enhancing administrative software and updating or enhancing a mobile app for members. Changes like these make resilience a strategic imperative for long-term organizational success.
This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.
