As we all know, training provides employees with the opportunity to expand their knowledge base and build credibility within their organisation in a particular field of expertise. Unfortunately, people are often too busy to take time away from the office for self-improvement. However, with Business Continuity (BC), the benefits of development expand further than the individual and could be the key difference between organisational survival and failure. Organisations that do not invest in valuable Business Continuity training leave themselves vulnerable to serious financial, operational, reputational and regulatory consequences.
Can they afford the time away from the office? Is it really worth the money? Well, for the Business Continuity Institute (BCI) Good Practice Guidelines Training Course, the answer is yes and here are 5 reasons why:
1. Training costs a lot less than a major disruption
The small cost of training Business Continuity professionals are a fraction of the cost of mismanaging a major crisis. Disruptions can significantly impact your business and affect operations if your staff are not properly prepared. Downtime means reduced sales and potential losses of revenue. BC training prepares staff to react and respond to incidents and keep business operations going. Maximising the chance of a successful recovery by empowering your people to respond under pressure is a good investment.
2. You’ve presumed your people already know what to do in a crisis
Even the most experienced leaders cannot be expected to know exactly what to do every time in a crisis. Without proper training and exercising, each person is left to react in their own way, leading to hasty decision making and confusion during an event. Managers who understand their roles and responsibilities in a crisis is the key to ensuring prompt and efficient action is taken to minimise loss.
Preparing, conducting and reporting a Business Impact Analysis (BIA) helps to determine and evaluate the potential effects a disruption would have on critical business operations. Unfortunately, without proper training, often BIA’s are poorly completed or misaligned with business objectives which make the preconceptions unreliable. The BCI Course equips participants to return to your organisation and identify the current business functions, assess criticality, timeframes and key dependencies to create a valid BIA plan.
4. You think you’ve prepared for every business disruption
In the last 2 years, 80% of organisations surveyed in the BCI publication “Supply chain trends: past, present and future” experienced disruptions due to unplanned outsource supplier failures. 5% lost around $15 million in revenue, 33% reported concern around brand damage, 35% had little or no supply chain resilience and 75% still admit they’re not prepared today. Occasionally it can be someone else’s disruption that ends up becoming your problem. Therefore, professionals who are responsible for purchasing, supply chain management, contract management and procurement require necessary training to become more knowledgeable and equipped to formulate adequate contingency plans for their supply chain.
5. One Business Continuity plan does not fit all organisations
An organisation specific BC plan is critical for any recovery strategy as a BC plan that fits one company won’t be appropriate for another one. The course provides practical guidance and assumes that the most useful plans are those developed by those who are going to use them and in the context of managing the sort of incident in which they will be used. Investing in training provides your people with the skill set to write a BC plan that is detailed to your organisations operations.
To help your organisation prepare for a crisis, RiskLogic offers a three-day, fast-track BCI Good Practice Guidelines Training course. This introduction to the world of Business Continuity provides participants with the basic knowledge and understanding required to develop or maintain a robust Business Continuity Management (BCM) program. To find out more, please click here.