In business, we plan for everything: sales, hiring, goals, strategy, succession, health and safety, training, this list goes on. Contingency planning is no different.
While the media is filled with the potential ‘pandemic’ of the spread of Coronavirus, it may initiate a sequence of events which may become out of our control. So, what can we do to mitigate the risk to our people and our business when the unexpected occurs?
The Smart Planner
Today’s media talks about Coronavirus, but the unexpected could occur- well unexpectedly. Perhaps your building could be condemned; there is a flood in your town, a snowstorm occurs, preventing workers from travelling, a power-cut in your area lasting days, perhaps even weeks until you can get your team back online. So, what do you do?
Having a solid back-up plan is the key to mitigating risk, so your business can continue trading until the problem is resolved.
Creating a Contingency Plan
Let’s start by outlining some of the initial things to think about when you want to develop a plan:
- Identify what you are planning for: What are your potential risks?
- List them in order of impact on operations. 1-10. Then concentrate on the most likely first and work your way down the list.
- Define the team who can action the plan if required: A committee is a good idea.
- Communicate your plan: Instil confidence in your people by reassuring them you have a plan should things go wrong, and everyone understands their roles and responsibilities.
- Decide at what point the contingency plan needs to be initiated. At what point do you define a crisis?
Long-term planning like this will enable your business to not only survive unexpected problems, but it will allow it to continue until regular service is resumed.
No Plan? Don’t panic
If you don’t have a current plan in place, then it might be time to consider a few options to help you understand your risk potential and make the best of the situation.
Start today and decide what to do if the worst should occur:
- Identify Critical Groups: Some departments within your business may be more critical to keep things going than others. For example: which depts MUST continue operating and which can be put on hold for a short while or manage with a skeleton staff?
- Relocation: Working from home, another office or a more isolated environment may help to provide some solutions to keep the business running.
- Security: You’ll need to be sure all your security systems are up today and running smoothly, especially your computer security outside of the office. You don’t want another crisis to occur while you’re dealing with the first!
- Suppliers: Discuss with vital suppliers their plans, your plans, and what you will need to continue trading or manufacturing.
- Communicate: The MOST critical component to all your plans is to keep communicating. What’s working? What’s not? What needs to be changed? Ongoing assessment of the situation is vital to ensure employees are safe, and the business is secure.
Remaining Calm and Diligent
Planning for the worst but hoping for the best outcome is nothing unusual in business. However, when something out of the ordinary occurs, it is a time to remain calm, measured and diligent. Your plans can be implemented and your actions decisive, but they also need to be flexible and well communicated.
Your people are your most valuable asset, and as such, you need to ensure their safety and their health and wellbeing. Start today and plan.
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