June 2020
We know, it’s the word no one wants to hear: crisis. Many CEOs don’t want to think a crisis will ever happen to them. However, leaders know it’s probable and are future-proofing their company for the potential. In fact, last year 79% of businesses in the U.S. say they have faced a crisis within the past 5 years. At Branded, we think that number will only increase in a post-COVID-19 world with guests and employees potentially transmitting a virus at the workplace. Leaders need to be prepared for this possibility because how a business handles a crisis determines how that business will look on the other side!
There are three main types of crises facing an organization:
Public safety
Financial loss
Reputation loss
While public safety is always considered the top priority, many businesses (especially B2B) focus more on the second two, thinking those are the most likely to impact their organization. However, in today’s environment, that needs to change. Every business leader needs to re-examine their crisis management policy and determine how they will keep employees and guests safe as well as protect their business.
As a business leader, how do you prepare for a public safety threat, like COVID-19? First, you need to take inventory of your current strategy and plans in place and determine where you have gaps. Then, you can build the updated strategy.
While you never know what kind of crisis can face your organization, not having a plan is a lot like not having insurance. You never want to use it, but you can sleep better at night knowing it is there.
Resources are emerging to ensure offices are protected from a crisis happening. Consider making these changes to your office and business. They can help prevent a crisis from occurring.
Get in touch with us to learn how we can help you take the first steps and develop a plan!