Potential Risks to Your Company
Your company may face a multitude of risks during a pandemic. And since risk is interconnected, it's important to examine all components, including their relationship to one another. We've broken them down by category:
The Three Phases of Pandemic Response
While we might talk about pandemic response as one event, it's actually comprised of three phases, during which an organization faces different challenges. We outline the most common issues and solutions here.
I. RESPONDING TO CURRENT EVENTS
Immediate relief will be the biggest focus for most organizations. Concerns will include the following:
Profitability and access to liquidity
Protecting unsecured assets and property
Handling a reduction in workforce
Securing valuable goods both during transport or storage
Acquiring experienced, qualified intelligence and emergency response staff
Getting accurate and timely information to help with decision making
At this time it'll be most vital to develop and implement a crisis management program, if one isn't already in place. There may also be a need for security response and at short notice, along with acquiring a source for accurate, timely and reliable risk intelligence.
II. ADAPTING TO A NEW NORMAL
Once the immediate threats are managed, it becomes extremely important to start planning for upcoming issues.
Creating and implementing new and changing workplace safety and security regulations
Restructuring security needs for employees and executives working from home
Enforcing duty of care and safe work environment for employees returning to the workplace
Managing lockdowns, quarantines, and restrictions on travel
Re-staffing of key roles
Rebuilding brand integrity
During phase two, quick implementation is key. A tailored, contact tracing solution can reduce the risk of spread among your workforce. Continued improvement to travel security programs, asset and property protection, and security resource allocation are also important, particularly if they comply with future requirements.
III. PLANNING AND PREVENTING
Now is the time to reexamine crisis and emergency plans. Focusing on organizational priorities will also help ensure those plans are future-proof. Your priorities will include the following:
Reviewing and improving emergency and crisis preparedness and response plans
Meeting new regulatory requirements
Creating new duty of care and people safety requirements
Working to diversify your supplier and distributor networks
Alleviating stakeholders' anxiety by showcasing excellence in crisis management prepardness
How We Can Help
It can be difficult to identify the extent and impact a global pandemic can have on an organization. Luckily, we specializes in comphrensive risk management. That means we're already providing our clients with crisis management solutions.
Whether you've just started your pandemic response program, or you're looking for help upgrading what you have now, we're ready to help.
Compliance audits of COVID-related company policies
Workplace security and safety regulations
Protecting people and physical assets
Custom intelligence reports, and alerting tools
Contact tracing program management
Residential risk assessments
Security Risk Management and Training
Due diligence checks along with brand and intellectual property protection
Learn about the risk companies undertake when employees work from home and how we can help mitigate those risks
No matter which phase of pandemic reponse your company is fighting right now, we can help at every step of the way. Contact us today to speak to a trusted risk advisor and learn more.Find a Risk Advisor