There were many lessons learned in 2020 and 2021. One was that Organizations need a Plan to prepare for business interruption. Unfortunately, the Experts are saying:
- Per Invenio IT, 51% of Companies don’t have a Business Continuity Plan
- Per both Mercer and Solutions Review, 51% of Organizations have no Business Continuity Plan to combat Coronavirus
- Per Continuity Central, a quarter of Companies have just started developing their 1st Business Continuity Plan
What is a Business Continuity Plan (BCP)? Contrary to popular belief, a BCP is not a Disaster Recovery Plan (DRP) that focuses on restoring data, servers, files, software applications, and operating systems following a business interruption. A BCP strategically focuses on people, processes, and facilities and is defined as a process in creating a Plan of prevention, mitigation, and recovery from potential threats to an Organization. It is designed to prepare people, processes, and facilities to quickly recover in the event of interruption and/or disaster.
Unfortunately, many Organizations do not consider a Business Continuity Plan (BCP) essential to the ongoing welfare of its survival. Hartford Business states that nearly 30% of U. S. businesses do not consider a BCP a priority.
In today’s environment, now more than ever a BCP is required for every Organization. Statistics, unfortunately, are identifying that many Organizations have not – or barely survived after the events of the last two years. For some, the BCP requires an assessment to evaluate whether it needs enhanced and/or updated. While other Organizations have learned that it is now time to develop a BCP to mitigate this ever-changing world that we are now living in.
By creating or reassessing a BCP, critical priorities for the Organization can be understood and a Plan established to protect its valuable assets: its people, processes, and facilities.
Aldridge Kerr are Experts at building and/or testing an Organization’s Business Continuity Plan (BCP) and would welcome the opportunity to partner with you to ensure your Organization will sustain Life’s changes.