Year in and year out, businesses in hurricane or stormy regions face the same risks of property damage and loss. This type of threat marks a good time to update a company's business continuity plan and business insurance. After all, one would like to have their business go uninterrupted if at all possible.
Here are just a few things to consider during those times of year when business interruption might take place.
Update Critical Business Functions
Implement a program that includes forms that can help to prioritize which business functions are most critical for continuing operations during an emergency situation.
Critical business functions can change from year to year. Review any existing disaster plan to account for any changes (such as the addition of new business systems, products and employees).
Verify Employee Contact Information
One of the most important components of any business is accurate contact information. This is even more critical in an emergency situation. Knowing how to reach employees, as well as vendors, is a vital part of helping the business to quickly recover from a disaster.
On an annual basis, send a memo asking employees to update their contact information. This will help to check on their current status and aid in the next steps for resuming normal business operations.
Updating supplier and vendor contact information, as well as other important contacts such as bank or insurance carriers will also aid in a speedy recovery. Make sure that business insurance is adequate and also meets current needs in the face of such disaster.
Disaster Preparedness Checklist
Three important things to consider during a crisis:
How much downtime can this business endure without a significant financial impact? Which functions are necessary in order to fulfill both legal and regulatory obligations? What business functions are essential for maintaining market share and reputation?Ways in which to deal with these issues:
Be sure to prioritize each function (high, medium or low) and determine who among the staff is most capable to perform the necessary tasks. Record detailed notes outlining the steps that should be taken in common disaster scenarios, such as: Power outages Damage to equipment Natural disasters Work with employees so that they fully understand the procedures for recovering the critical business functions. Name an alternate employee to take charge should the primary employee be unavailable to perform the function.Advance planning will help everyone to recognize his or her responsibilities.
Prepare A Recovery Location
If plans include the use of a recovery location (which is an alternative site for business operations), take time to review employee and business needs to be certain the location is quite adequate.
Be sure the location is equipped with any special supplies or equipment that will be necessary to continue business operations. It is also a good idea to contact the recovery location provider before the season starts to review plans and ensure that requirements are current and specific.
Having a good plan, and also the business insurance needed to get things "back on track" is essential to any solid business plan.