Most businesses unprepared
Access to data is vital to continue operations in the wake of a disaster. Back up your data through multiple channels and locations—redundancy is important.
However, don’t assume data storage will guarantee immediate resumption of operations. Agility Recovery Solutions recently conducted a survey illustrating that data back-up provides a false sense of security among small and midsized businesses.
According to Agility’s 2009 Disaster Recovery & Business Continuity Survey, 90% of small and midsized businesses are woefully unprepared for an interruption. Most companies have a formal data back-up plan, but only:
Ensuring your credit union can survive a disaster often requires most, if not all, of these elements of recovery.
Communicating with your employees, members, and the community in which you operate is crucial leading up to, during, and following a disaster. Outline the tools you’ll use to communicate with employees and their families, such as an alert notification system, texts, and website messages.
During Hurricane Andrew, 200 firefighters under my supervision lost their homes and it sometimes took three days before they knew if their families were alive or dead because we didn’t have a communications plan in place.
I knew I would lose those people should another hurricane hit the area because no one would put their families through that again. Working with the firefighters union, we created an internal communication system and place their families could go to find shelter.
As an employer, you have to do that. Employees must know you care about them and their families.
One of the big failures of businesses I’ve seen is scenarios where employees fail to come to work after a disaster, opting to stay home and care for their families. Business owners and leaders must devise a plan and incentives for employees to come to work—one that helps them understand the company needs them to survive.
Next: Other advice
A U.S. District judge Monday dismissed three lawsuits--including one by the National Credit Union Administration--brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities.