Now's an opportune time to ramp up efforts to improve BCP

ONE lesson that's quite apparent from the ongoing Covid-19 outbreak is undoubtedly the importance of having a robust Business Continuity Plan (BCP), reminding us that failure is not an option when you have failed to plan. Undoubtedly, companies with a well-thought-out BCP will have a decent chance of riding out the storm in good shape, while those at the other end of the spectrum might have to be looked up in the national archives just to reminisce on their existence in the not-so-distant future.

But is it really too late to change the way a business operates? There may still be a window of opportunity to take action immediately to identify gaps in the BCP and transform the business in order to meet the demands of customers and the workforce. The reality is that with many countries under lockdown or partial shutdown, it may take many months for us to see a "business as usual" situation as fears of a second and third wave of virus breakout looms across the world. Actions or inactions of business leaders today may very well define the future outcome of their business.

There are some key elements in a good BCP such as having clearly defined teams; a well-detailed plan; frequent testing; an effective communication process; means to safeguard employees; accessibility to business data; and uninterrupted IT operations.

In fact, now is an opportune time for businesses to ramp up their efforts to revisit these elements and improve their current BCP if they have not already done so.

It is very clear that embracement of technology and its supervised integration within the BCP is paramount to enabling the ability of functioning remotely in these times of social distancing. Given the current work-from-home arrangements adopted by most businesses, if not quite by choice, employees well-equipped with various tools are more likely to experience a seamless transition. One such example would be the phenomenal rise of platforms which offer file sharing, video and audio conferencing. However, before jumping on the bandwagon, businesses cannot neglect the necessary due diligence prior to acceptance of a certain offering. After all, the burgeoning market for such applications has also witnessed the increase of cyber-crime in tandem.

Having a virtual workforce poses many challenges to a business such as tracking productivity, utilisation and efficiency. It is apparent now that incentivising employees needs to be co-mingled with the big push for technology. In addition to getting accustomed to the joys of working from home, some employees also have to contend with familiarising themselves with alien platforms that they know nothing about.

WIN-WIN SITUATION

Implementing a simple rewards system linked to the use of these platforms and tracking employee responsiveness can create a win-win situation. Furthermore, the business should still conduct employee training, tweak and upgrade the platforms over time to ensure an enhanced experience for employees which may ultimately lead to higher customer satisfaction.

Short-term outsourcing of non-critical business processes, as deemed necessary by business leaders, is another option to alleviate the burden of excess responsibilities from overworked employees during these trying times. There will always be pros and cons with this approach, but in the short term this will provide much-needed stability to businesses in the event of unwarranted resource constraints due to Covid-19.

Timely consultations with various Subject Matter Experts might provide a fresh perspective on the current BCP and may even translate to improvements - say, in identifying and resolving potential gaps. Although this involves a cost element which might not appeal to all businesses, it's an option worth considering as an investment towards the longevity of the business.

The above considerations are merely ponder pointers for businesses seeking to improve their BCP. It is notable that the BCP is a living and breathing process rather than a one-off exercise where the learning never stops, akin to the dynamic nature of the market. It is imperative that proposed changes are carefully thought through before implementation. The last thing a business needs is to allocate its already scarce resources to undo wasteful initiatives introduced previously.