Every Business Continuity Plan should be about preparation
A Business Continuity Plan offers a company many key benefits besides being prepared for almost anything.
Some Key Benefits of Business Continuity Planning:
- Identification of Risk
As one of the building blocks for the Continuity Plan, a Risk Assessment needs to be carried out for each function and process for various threats and vulnerabilities which would have to be done at every office or factory site within the organizations jurisdiction.
With the many new regulatory compliance requirements that are becoming mandatory by various governments and worldwide governing and or regulatory bodies, companies have started to ensure that all their operations and systems conform to the required standards, rules and regulations as stipulated by each one.
- Improvements to Operational processes
When a business sets about analyzing various processes it gives them a unique opportunity to examine the current processes and implement changes that could improve the efficiency and increase productivity.
· Staff Training and Support requirements/needs Identification
Whilst examining the various procedures a company can assess and evaluate staff requirements in forms of training and support they may need. This, in turn, leads to a better working environment for all, cutting down on tired, overworked staff members that could get injured or cause a potential incident.
By training and bringing about more staff awareness programs, it gives them the tools to react more efficiently and effectively to counteract the more minor incidents that occur daily,before they escalate into a major incident thus strengthening the organization by empowering their employees.
- Effective Cost Savings
A tried and tested Business Continuation Plan is usually looked upon favorably by most insurance companies so can potentially cut down insurance costs. Better trained employees with great support systems cut down the costs for temporary staff to pick up the slack. More streamlined processes could potentially cut down costs like materials, etc.
· Organized and Structured Knowledgebase
Usually, a company’s data is rather scattered across shared directories or hoarded on management laptops. Implementing the Business Continuity Plan is a great excuse to start gathering up and sorting out the information into more accessible and document controlled environment. This also ensures the data is being correctly backed up and is easily accessible should it be needed for some reason.
Having an efficient and effective Business Continuity Plan can help prevent negative publicity a lot of companies are plagued with due to disruptions, disgruntled staff members and poor organization.