There is no doubt that we have learned a great deal over the last 18 months of the COVID pandemic; we have learned the importance of mask-wearing, how the different vaccines work, and a host of new terms like ‘social distancing’, ‘adverse reaction’, ‘organisational pivot’ and ‘hybrid working’.

But have we learned how to effectively manage our business continuity risks?

International studies have confirmed that organisations worldwide were unprepared for the COVID-19 crisis. This is a fairly obvious statement, especially when we consider how many organisations either didn’t have a BCP in place or had perhaps underestimated the potential business interruptions that would arise during an extended event (e.g. lockdowns).”

The same studies actually highlighted that the more ‘successful’ organisations were the ones that were truly agile, adjusting their work arrangements as best they could. With this key factor identified – being agile and ‘thinking on your feet’ – the question arises for further consideration: what do we need to focus on moving forward given the nature of the pandemic and the lockdowns, etc.?

Some suggested areas that your business may wish to consider are:

  • The fluidity of the situation may prompt the use of less structured BCPs and more principles and guidance (allowing ‘thinking on your feet’ by Senior Management)
  • There appears to be a need to build extra contingencies into key roles, a greater need for organisations to adopt new practices to build contingency skill matrices, and deeper succession plans beyond the Executive Managers
  • The required agility may prompt organisations to adapt their management structure and decision-making processes
  • Digital connectivity may need to be strengthened while being cognisant of the need for cyber security
  • Organisations need to be acutely aware of the mental health impacts on their employees, and the changing nature of this in the short and long-term as the lockdowns, quarantines, etc. develop
  • Overall, there may be a need to institute formal Continuity Management Team(s) that meet regularly as a response to the Pandemic and its shifting restrictions and regulations
  • And, of course, updates would need to be made to the Organisation’s Risk Register

One thing that hasn’t changed from the pre-COVID traditional approach to BCPs to now, is the need for timely and effective communication, and keeping everyone informed up and down the organisational structure, as well as the key external stakeholders.

COVID-19 has set a new benchmark for preparedness in which organisations will need to continuously adapt and evolve their strategies to better prepare for future risks, even though there may be some they cannot ever be fully prepared for.

Please contact QRMC for more information.