5 Tips for Developing a Corporate Crisis Management Plan
Company growth isn’t always linear. In fact, your company could have its most profitable quarter right before a controversy threatens to destroy everything you’ve achieved. Developing a corporate crisis management plan helps you prepare for threats, quickly jump into action, and rebuild your reputation with the general public. Here are 5 tips for developing a corporate crisis plan for a business to have the ultimate chance of success in the face of the unknown.
1. Identify Risks
To start, consider the potential risks that might threaten your company. Common risks include the following:
- Data Breaches
- Controversies
- Financial Challenges
- Natural Disasters
- Labor Strikes
- Product Recalls
- Workplace Incidents
- Cultural Shifts
Some risks are more relevant to your business than others. For example, if you live in Tornado Alley, you’ll need to plan for storm damage. However, other threats are nearly universal. No matter how successful you are, any business could face economic downturns or a surprise controversy.
2. Talk to Employees
One employee mishap could cost your company thousands of dollars. For this reason, make sure your entire team understands the crisis management plan. Hold meetings where you review each step, then test it out to review their understanding. Invite your employees to ask you questions at any time.
3. Utilize Social Media
After a crisis, thousands of people will flock to your social media profile, waiting for your first update. Including social media in your crisis management plan gives you a direct link to customers. Media outlets will also pick up your remarks, so you’ll need a strong statement that addresses the issue without adding to the controversy.
During this time, you could choose a spokesperson to write posts and upload videos on social media. This person also gives interviews, talks to news outlets, and answers questions in a calm, professional manner. This gives the public quick access to answers while you focus on other aspects of crisis management.
4. Write a Business Continuity Plan
A business continuity plan (BCP) outlines the way you’ll keep your business running during an emergency. This plan includes instructions, schedules, diagrams, and other valuable data. Periodically, you’ll test your plan to ensure that it’s ready for a crisis.
As you write your plan, you’ll figure out how to act during an emergency. Many BCPs have plans for accessing business data during a breach or hacking incident. Others discuss ways to communicate without smartphones, locate paper documents, hold meetings off-site, talk to investors, and reach out to emergency services.
5. Invest in a Crisis Management Service
Crisis management services perform most of the work for you, relieving stress during an emergency. They start with risk management to help you plan ahead. When a crisis strikes, they’ll launch your personalized BCP, collect data during the incident, and help you restore your reputation. They also have tools to help you deal with physical security threats, such as break-ins.
Ultimately, planning ahead is the key to managing crises and potentially getting ahead of the news cycle. With these tips, your business can stay afloat during controversies and bounce back once the public moves on.
