A Business Continuity Plan Can Help Protect Your Business From Unexpected Changes
Betty has been your company’s payroll clerk for a long time. She’s reliable, gets things done, and payroll is one less thing you have to worry about. She handles it all. In fact, you have no idea what you’d do without her. Then one day, you’re forced to face this unfortunate reality.
Betty left a personnel hole in your company. You’re also facing a significant gap in operations. She was the only person who knew every aspect of your payroll function. What now?
Prepare For The Unexpected
Small businesses often rely on one person for entire business functions. No one else knows or understands what they do. If that person leaves suddenly, you enter crisis mode. This creates multiple problems:
- Unpaid bills pile up
- You miss important deadlines
- Payroll grievances occur
- Interest and penalties accumulate
- Customers and revenue disappear
How A Business Continuity Plan Protects Your Business
Good times make complacency easy. Your business runs like clockwork. But unexpected change always lurks in the shadows. You should prepare for anything.
A business continuity plan outlines what you need to do. It helps you operate successfully during a crisis. Your plan might include these components:
Cross-Training Employees
Cross-train two or more employees in each area. This ensures continuity of specific business functions. If someone is out unexpectedly or takes vacation, you have a trained backup. That person knows the job.
Developing a Procedures Manual
Create a step-by-step document that outlines all critical functions. A procedures manual documents everything you do. It also explains how you do it.
Implementing a Customer Relationship Management System
A CRM system gives your team one location to gather information. It also lets them share that information. For example, an account manager inputs notes about a customer’s account. If something happens to the account manager, notes remain available. Anyone with CRM access can service the customer without disruption.
Creating a Master List of Passwords
Password-protected programs exist for almost everything today. A 2017 LastPass report found that business users average 191 passwords. Create a master password list to prevent access issues. This prevents problems with the tools and programs your business uses. Keep this document secure.
Enabling Shared Email Access
Employees sometimes leave the office unexpectedly for unknown periods. Consider sharing that person’s email account with their supervisor. Shared email access ensures emails get answered. This prevents customers from going unserved.
Outsourcing Critical Business Units
Small businesses with few employees face unique challenges. Consider outsourcing critical functions like payroll or accounting. This lightens your load. It also provides peace of mind about missed deadlines and penalties.
You’re Responsible
You’re the business owner, so you’re responsible for knowing what employees do. You need to delegate various responsibilities. This lets you work on growing your business. But you must ensure all business areas have coverage during a crisis.
If this concept is new to you, don’t worry. If it seems overwhelming to tackle alone, reach out for help. Contact me or your Rea contact to figure out your next steps. We’ll help you prepare for the unexpected.
Ready to create your business continuity plan? Contact our team today to protect your business from unexpected changes.
