The Need for a Business Continuity Plan
Any interruption in your day-to-day business procedures in Temple, TX, can lead to financial losses. A combination of lost revenue and the added expenses associated with the disruption often means a loss of profit from which is can be hard to recover. Much of the time, your insurance policies won't cover all of those losses and it certainly can't entice customers to return once they've moved on to your competitors. Protect yourself from this situation with a business continuity plan.
Four Steps for the Development of a Business Continuity Plan
- Identify critical business processes and determine the resources that keep those processes in motion. Consider the impact if you were to lose your facility, any of your personnel, technology including either hardware or software, or any of your key vendors.
- Identify the actions you'd take to recover. Document the plan, including objectives such as how to ensure employees are safe, what would be necessary to get critical business functions back online, how to protect company assets, and how you'll communicate with clients, employees, and vendors.
- Put together a business continuity leadership team. This group of professionals should be skilled at communication, logistics, and emergency response protocols. During a disaster, this team would put the emergency continuity plan into action.
- Train employees in how to follow the emergency response plan when a disaster takes place. These trainings could be presented in a variety of formats. For example, you could run a practice scenario or lead a tabletop discussion. Disaster recovery exercises should be run at least annually.
Fortunately, there are many resources to help you create an effective emergency response plan. For example, FEMA has a continuity guidance circular and the Insurance Institute for Business and Home Safety has a dedicated site to help you protect your business.
Prevent serious losses with a solid business continuity plan. You'll appreciate the chance to utilize all resources for recovery following any type of disaster. With a solid plan in place, you can swiftly ensure safety and get critical business procedures back on track.