BUSINESS CONTINGENCY PLANNING DO YOU KNOW WHERE YOUR POLICY IS? PERHAPS IT’S TIME YOU CHECKED IT OUT?
If we look at the press we could be confused regarding the conflicting reports about the Coronavirus, only time will tell if the Coronavirus is a global killer or has a lesser death rate than standard flu.
Government statements are that although Coronavirus has flu like symptoms and 80% of people will recover by staying hydrated and their immune system fighting back. It does however mean that 20% of people will have serious effects as a result of contracting the virus which may result in death.
For further information please look at the NHS website regarding Coronavirus https://www.nhs.uk/conditions/coronavirus-covid-19/
As a business owner what is clear is the gestation period of the disease and the potential effect this has on your business by way of either you, your employees, the suppliers and or your customers.
It’s time to dust off your Business Continuity Plan and be prepared to Take action. If you have not got a BCP, then I’d recommend you start writing one.
You should not wait for a crisis to develop before you think about developing a crisis plan. Bad news travels fast on today’s social media platforms and businesses must be prepared to react quickly. You should consider the impact on staff shortages through potential illness, and the need for self-isolated quarantine after the discovery of symptoms.
Fit staff may need to be prepared to cover for unwell co-workers and be on standby for extra rotas.
The lack of consumer confidence in going to public places could affect your financial position, and it’s worth considering that your supply chain may also be impacted.
Hopefully, these measures might never be required, but be prepared in case they are. Have you done your homework do you have a plan in place? Many measures rely on personal responsibility when it comes to hygiene. Ensure that your staff know the routes of transmission and train them in the practical preventative steps. Taking the appropriate measures means assuming that the virus is around and taking action.
Do you need help with your Business Continuity Plan? There is a number of free information out there which we would suggest you look at the various options, having reviewed the market I personally like the information provided by
If you are looking for further information we have partnered with Altruisk https://altruisk.com/ who will be able to tailor an approach to your business
If your policy is due for renewal then why not try MOBI as we believe that our service, products and partners means that we provide more than your standard brokers, call 03334449247