This summer’s floods in Alberta and Toronto highlight the importance of business continuity planning – a key part of any risk management strategy. It keeps employees productive and maintains essential business operations and customer satisfaction during any kind of interruption. However, according to IDC, only 44 per cent of Canadian large businesses, with more than 1,000 employees, had a continuity plan in place as of late 2011. Small businesses, with fewer than 100 employees, were even less prepared, with 25 per cent planning to launch business continuity plans in the next 12 months.
Here are some key steps to make sure your business operations can continue in the event of another major interruption:
1. Have executive buy-in. Support from executives or other senior leadership is critical for the success of a business continuity plan. Planning and execution will require their buy-in and attention to ensure that all processes are managed effectively.