The war in Ukraine has been raging for more than a year. And among all the tragedy and drama of these months, Ukraine has surprised by its resistance and resilience. And not only in the military field. According to a study by the consulting firm McKinsey, businesses in Ukraine have held up surprisingly better than might be expected given the scenario they face.

Of the companies analyzed by the consulting firm, 63% had their operations heavily impacted by the war, but only 2% were forced to suspend operations.. In terms of revenues, more than half reported a 30% to 10% decline from pre-conflict levels, mainly due to lower demand, supply chain disruptions and physical damage to their facilities.

What worked best for Ukrainian companies? According to the study, one of the main factors was the concern to provide security - as far as possible within the war context - to their employees. Relocating workers and their families to safer locations was an urgent concern from the outset and enabled companies to maintain operations despite physical damage to their facilities and power supply problems. Conveying a sense of meaning and purpose to workers has also been a factor in helping companies maintain operations: two-thirds of the firms analyzed have been able to keep more than 90% of their employees a year after the war began.

Another focus that has helped keep Ukrainian companies on their feet has been agile decision making, with shorter planning cycles and greater interaction between different levels of the organization.

What do Ukrainian companies plan for after the war? Almost half of the organizations surveyed plan to invest in diversifying their operations, while almost a third plan to prepare for possible eventualities and ensure their resilience to extreme scenarios.

You can read a summary of the study here