Beyond the Pandemic: 3 Ways to Reduce Business Risks Moving Forward

business meeting

The pandemic revealed the weak points of many businesses. Startups and small companies were particularly vulnerable at the start of the outbreak. They are less likely to be equipped with an adequate plan and technology to cater to quarantine orders and health protocols. Now that things are beginning to get a semblance of normalcy, it’s high time for businesses to scrutinize their mistakes and establish solutions.

While risk management talks are ongoing, perhaps it’s time to consider the other hazards you may face. After all, it’s unfortunate to survive the pandemic only to be subdued by another problem soon after.

Technological Hang-ups

As technology takes over most business needs, you must know exactly what suits you and how to manage it best. This is especially true if you’re in the finance, retail, education, and telecommunication industry. Any malfunction, cyber attack, or infrastructure failure can cost you a lot of money and most of your clientele.

Take data centers, for example. At their core, they’re essential to quick, secure, and reliable access to data. When buying or leasing one, you have to consider everything that can go wrong and establish a contingency plan. This could mean hiring more than one IT specialist or investing in a data center fire control system.

The same applies to your other equipment, may they be simple or complex. Do you use encryption? Are your confidential files safe from hackers? Now is a good time to assess how well your company does in this area.

Remote Options

The pandemic isn’t the only crisis that can necessitate the need for remote access to work. Your office building could be subject to integrity issues, or relocation might take longer than expected. Just because you survived the first few months of the pandemic on Zoom, Skype, and Google Workplace doesn’t mean you should be complacent.

While those are life-savers when it comes to remote work, you’ll want to invest in software that specifically meets your needs. Instead of utilizing a multitude of tools, why not use only one that has it all? Software like Hubstaff lets you keep track of each employee’s productivity and your overall progress as a team.

You’ll also want to ensure that remote work won’t introduce your company to risks due to human error or the Internet of Things (IoT). In case you do resort to it in the future, it’s better if you have protocols to guarantee not only your productivity but also security.

Personal Safety

health and safety

When discussing risks, some companies tend to overlook personal safety simply because there’s a CCTV installed at the office entrance. Examine your infrastructure and surroundings. How easy would it be for outsiders to break in? It seems like a thing only for crime dramas, but armed robberies and workplace violence do happen whether you believe it or not. Your employees will feel more secure knowing that you’re not taking chances.

Upgrade your security measures. Instead of filling every nook of your office with different smart gadgets, opt for all-in-one systems like ADT, taking care of video surveillance, environmental alerts, cybersecurity, automation, and intruder protection.

Invite police officers or safety instructors to train your staff, too. There is a proper way to handle attacks during and after they occur, but there are also ways to prevent them that needs everybody’s cooperation. Sometimes, all it takes is one moment of neglect to invite criminals into your workplace.

Prepare as Well as You Can

It’s unlikely that you’ll have a contingency plan for everything that will go wrong in the future, but it is possible to cover the most costly and damaging ones. Preparing as well as you can will put your business in a better position to cope and survive the next big crisis.

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