Minimize Economic Damage

Minimize Economic Damage when the Next Storm Strikes

The numbers are staggering. Four major winter storms. Eight feet of snow. An economic loss that will likely reach billions when all is said and done. Residents of Massachusetts can’t wait for this winter to be over, but it has also been an especially challenging season for business continuity management experts.

Forecasts for Dramatic Economic Damage

“This winter weather has been economically devastating,” said Massachusetts State Auditor Suzanne Bump, who also served as secretary of Labor and Workforce Development, indicating the impact of this winter will be felt long after the piles of snow have melted.
Since January, two blizzards and two other major snow storms hit the state with a vengeance. People prefer to hibernate during winter storms, and only venture out for absolute necessities. In this case, many people couldn’t even get to work even if they wanted to because transportation systems across the state were shut down.

According to a study from the American Highway Users Alliance, Massachusetts could experience a $265 million loss each day from a snow-related shutdown of roads and other transportation systems.

When employees can’t get to work, your business suffers. When large-scale power outages and collapsed roofs make working in the office impossible, your business suffers. When workers can’t work and consumer activity is restricted, the entire economy suffers. Business continuity professionals know the best way to minimize the impact is to learn from prior events, have a plan in place before a catastrophic weather event and put that plan into action.

Have a Plan and Put it to Action

Unfortunately, from Hurricane Sandy to this year’s winter storms, the East Coast has had plenty of opportunity to test out their business continuity plans in recent years.

These business continuity plans and preparations need to include:

  • A communication strategy for employees, customers and business partners before, during and after an event
  • The business continuity team and decision-makers identified and tasks assigned
  • Policies, instructions and expectations communicated for working remotely
  • Training plan to ensure personnel know how to use remote systems and what to expect in a business-halting event

How to Use This Information

The winter storms Massachusetts has endured so far this year is another confirmation of the economic damage that occurs when normal business operations are disrupted due to a weather event. The best way to safeguard your business’ bottom line and ultimately the larger economy is to be sure you have business continuity tools, systems and plans in place to weather the storm and keep your employees as productive as possible. We have best-in-class crisis management solutions that can help your business weather the storm. Please contact us online or give us a call at 877-833-7763 to learn more!

Tell us how your business has been impacted by a winter storm.