Scarinci Hollenbeck, LLC
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Author: Scarinci Hollenbeck, LLC
Date: April 17, 2020
The Firm
201-896-4100 info@sh-law.comIn the wake of Hurricane Sandy, many New Jersey businesses developed business continuity plans (BCPs). Unfortunately, many businesses are now discovering that while current BCPs address disruptions due to natural disasters, they do not adequately account for the completely new challenges to firms and individuals created by this worldwide pandemic.
Today’s challenges include global supply-chain disruptions, contaminated work facilities, homes, depleted workforces due to serious illness, government-mandated closures of schools and businesses requiring immediate remote office use and travel restrictions. To address these novel and ongoing threats posed by COVID-19, changes will be needed to your existing business continuity plans (BCPs).
A necessary starting point is to utilize your BCP’s response team members to determine all potential threats to your business operations posed by COVID-19, rank the severity of each business disruption, analyze the effectiveness of your BCP and document failures and weaknesses that surfaced during this crisis to be able to devise remediation measures to address each risk. As we have discussed in prior articles, your BCP should address a wide range of areas that have been impacted and your Response Team should be working on developing workable solutions as developments progress in real-time. Below are several risk areas to consider:
COVID-19 presents significant stresses to BCP’s, particularly because there is a lot we don’t yet know about how long its impact will last. Nonetheless, maintaining an effective BCP that reacts reasonably to the unique stressors of this pandemic may be the most important process your firm can utilize.
If you have any questions or if you would like to discuss the matter further, please contact Paul A. Lieberman or the Scarinci Hollenbeck attorney with whom you work, at 201-896-4100.
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