Often when we think about resiliency in the modern-day workplace, we picture internal or external issues that test our ability to deal with change. Turnover, corporate restructuring, and program shifts are just a few of the ways our resiliency is tested. Our response to these challenges defines our aptitude, strength, and success.
We live in an interconnected and globalized world economy. For the past decade, many business owners have experienced a sustainable market – even when dealing with many of their international partners. But when unpredictable and challenging situations arise, like coronavirus, our global supply chain indubitably experiences a serious strain. But how do you prepare for large-scale natural or man-made disasters? That’s where modern-day resiliency comes in.
Luckily, you can prepare a resiliency plan to ensure that your business has the utmost capability to withstand large-scale disasters. When developing your plan, your business should evaluate various processes and buildout strategic policies that will help address an array of challenges.
Let’s look at a natural disaster example to help paint this picture:
Let’s say you partner with suppliers in China that play an integral role in the development of your business’ product. Create a plan that aligns with the different stages of this disaster. If you cannot keep production up, do you still provide limited service? What if your manpower in China can’t keep up with demand? What if you need to close temporarily? Is your communication plan built-out to let your customer base know? Creating a solid plan to address scenarios, like this one, is key. You must focus on the health and safety of your vendors, stakeholders, employees, and customers.
Likewise, it’s critical to use a transparent tone and take accountability. The last thing that you want is your employees wondering if they’ll be without pay, fearing losing profits for the company, or concerned about losing their job. If possible, let them know that a challenge may arise and what the proper protocol will be to address that challenge. Although there may be an array of consequences that unfold when addressing an issue, the road will be much easier to travel if everyone has a clearer idea of what to expect. For your external stakeholders, be proactive in the planning process. Create a backup plan. Lay out all intended scenarios to minimize any loss of time and eliminate panic.
Take the proper steps now. Create a resiliency plan to set your business up for success. Being resilient in the face of disaster is no small feat. But when you create a strong plan and keep an open dialogue with your employees and business partners, you will be steps ahead and eliminate the need to enter crisis mode.
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Derek Rundell, is a successful business leader, operator, and serial entrepreneur. Derek has founded, managed and sold businesses in the technology, media and finance industries. He sits on several boards and serves as an advisor/investor to numerous established businesses and startups. Startups are Derek’s real passion, and in addition to building his own portfolio of technology, media and financial ventures, he invests in and mentors startups and entrepreneurs. He is passionate about sharing his knowledge and helping other businesses succeed.