Creating an Effective Business Continuity Plan

Over the past few years, “uncertainty” has become a buzzword, with individuals and businesses facing significant disruptions. Indeed, the COVID-19 pandemic demonstrated that disasters can occur when least expected. Infectious diseases, severe weather and cyber-attacks are just a few events that can knock businesses off course.

As such, businesses must have a tried-and-tested plan ready to go should things go wrong—otherwise, they might not recover. In fact, more than 10% of UK businesses fail each year, according to Office for National Statistics data. While the reason for these failures isn’t documented, it’s likely that many of these businesses could not recover following a catastrophe. Fortunately, a robust business continuity plan (BCP) can help organisations be prepared for all eventualities. Consider the following tips to increase your business’ resilience to disaster:

• Conduct a risk assessment. To identify areas of vulnerability, carry out a comprehensive risk assessment. This should scrutinise all business aspects, including staff, premises, customers, suppliers, equipment and logistics. Consider including employees in this process; they might identify hazards you weren’t aware of.
• Develop your BCP. Next, use the risk assessment findings to develop your BCP. Specifically, determine who will be responsible and what action they will take for each vulnerability found. Consider enlisting the help of professional bodies such as the Business Continuity Institute. Better still, engage with other organisations that have previously navigated disaster to glean valuable insight.
• Communicate and test your plan. Once complete, disseminate your BCP to everyone associated with the business. Frequently test your BCP’s effectiveness through tabletop exercises, structured walkthroughs and simulations. Furthermore, conduct a full emergency evacuation drill at least once a year. Always correct and update any weaknesses identified in testing.
• Gather contact details. Ensure you keep an accurate record of everyone you may need to contact in an emergency, including employees, key customers, suppliers and insurance providers.

Because business risks are constantly evolving, bring key personnel together at least annually to review the BCP and discuss any areas of improvement.