Experts are predicting that the current swine flu pandemic could end up costing the UK business economy over £50bn, making it one of the most serious threats of recent years. Official government guidelines strongly recommend people stay at home at the first sign of symptoms and it can be argued that, wittingly or unwittingly, staff may stay at home with unrelated ailments to add to the numbers genuinely sick with swine flu.
Furthermore, if schools are closed in September and public transport is affected, absenteeism could reach 40%. Small and medium-sized businesses that do not have adequate business continuity systems in place are particularly vulnerable.
If the projected figures for the number of people contracting swine flu come to pass we are going to find both individual companies and the economy as a whole hit by very intense short-term periods of staff absence and businesses must be prepared. The Federation of Small Business reports that there are already 120 small businesses closing down every day because they are ill-prepared for a virus pandemic. This scenario could have potentially been prevented with some forward business planning.
Business Continuity is like any other form of insurance, be it theft, car or fire. As a responsible business you would not think twice about having policies in place for these kinds of disasters, so why should you not consider protecting the operations of your business without which you cannot even function?
The recent Chartered Management Institute's business continuity management awareness research revealed only 10% of SMEs have addressed flu pandemic in their business continuity plans. It is vital that those SMEs that already have a business continuity plan in place ensure that it has been regularly tested and updated to cope with a pandemic and that plans include staff shortages. The good news for managers of companies with no BC plan in place is that it is not too late and that an effective, resilient and far-reaching business continuity plan can be implemented quickly and cost-effectively, so long as the right measures are put in place. The key is getting your business priorities right.
Communication is an important component to any business, but in such challenging times, a resilient and trusted system is an invaluable asset. In terms of your staff, begin by identifying the key people without whom your business could not function and ensure that you have a resilient form of communication in place for employees that will work throughout the swine flu pandemic. The next thing to consider is to put together a complete list of contacts for your staff, customers and suppliers.
A comprehensive strategy for communicating urgent information to the right people at the right time is essential in order to protect corporate reputation but the increasing number of employees taking advantage of flexible working hours or remote working arrangements can make this rather challenging. There are however inexpensive solutions out there which can help. Here at PageOne, for example we offer Areyousafe, a real-time workforce and resource management system, enabling businesses to determine the safety, whereabouts and availability of staff; or help effectively manage their allocation to the business areas most in need by calling a dedicated phone number.
Business success is as much about protection as it is growth. In an uncertain world, the ability to withstand serious incidents such as a swine flu pandemic, prosper in these changing conditions and be strong enough to survive, is critical. There is the organisation's reputation with its suppliers and business customers to consider, as companies with a business continuity plan in place are often more attractive to work with. Recent developments such as the introduction of the first British Standard BS 25999 for business continuity management have heightened the need for businesses of all sizes to implement one.
This is a big issue for SMEs that supply to large businesses because those who do not meet requirements stand to lose out, and in this current economic climate this is not a feasible option. As we have seen, the cost of implementing a business continuity management plan does not have to be great and the question worth asking is not "how much will it cost?" but "how much could it save me should swine flu affect my business?"
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