January 17th, 2018
Would your company continue to function in the event of a debilitating catastrophe? If you have a solid disaster recovery plan in place, you're more likely to answer that question in the affirmative. Yes, a good commercial insurance policy is also a must-have in these situations. However, identifying your key business processes before a disaster is a critical aspect of any recovery plan. Your goal here should be to determine which aspects of your operation should be prioritized to weather any unexpected interruption.
List Every Company Function
To begin, create a list of every job in your organization. Document everything, rather than focusing on what you think are the most critical positions. Think of it as brainstorming what you already know. Executives tend to focus on top-level functions. Covering every position, you will inevitably discover an occupation you may have otherwise overlooked. There could well be something at the bottom of the food chain capable of rendering your entire organization inert.
Once you're satisfied the list is complete, break down each job's function and determine the tasks associated with each function. Each of your department heads should be included in this process. In turn, they should consult every manager with whom they interact. Managers should interview every employee to get the full details.
Rank The Positions
You're now better positioned to conduct an analysis. Examine each task and rank its overall relevance to the function of the company if operations were reduced to a bare minimum. Once you've established the minimum functionality, go up one level to determine the next most important tasks. Continue this process until you've ranked every position in the company. When you're done, you might find the CEO job is the least important in these situations. Seriously though, ranking your functions in this manner helps you determine the steps you need to take to keep your core business intact while recovery takes place.
Identify The Key Personnel
Set up an organizational chart, listing each department and the functions within them. Alongside each position, list the name of the person filling that role. When this is complete, you'll have a diagram of your business. The document will show each department, each position and the individual(s) charged with filling every role. This will enable you to identify key personnel at a glance. You should also list a backup person for each position in case the lead person is unable to work after the disaster. You'll want to note what equipment and access they need to do their jobs. Develop an alternate plan for each function so they can keep working if your main facility is compromised. In addition to equipment, consider records they might need to access, software, transportation, etc.
Identifying your key business processes before a disaster in this fashion is good insurance against failure at a critical time. Yes, good commercial insurance will help mitigate the financial impact of a disaster, but you'll still need to function too.As for the insurance, CoverHound can help you find the best policy for your situation at rates you'll find affordable. The service is free. Try it today!