risk management: tip of the week

Crisis Management

There was a time when the term "crisis management" generally brought to mind large-scale catastrophic events. Today the immediacy and widespread reach of social media can contribute to increasing the disruptive effects of comparatively smaller-scale events on businesses of any size.

The three elements common to a crisis are a threat to the organization, the element of surprise, and a short decision time. As part of National Safety Month, the National Safety Council (NSC) has provided a number of resources on various topics including crisis management. The NSC's Crisis Management Tip Sheet recommends the following steps:
• Create a response team and ensure that roles and responsibilities are clearly identified.
• Schedule regular and frequent meetings to meet the needs of the situation.
• Continuously collect information from reliable sources.
• Understand organizational risks in terms of factors such as location, employee demographics, customer and/or public needs, and company operations.
• Develop a communication strategy.
• De-escalate when possible.
• Develop hypothetical scenarios that could impact the business.
• Create and update relevant policies, which may include customer and/or employee access, remote working options, hygiene, and other factors.
• Provide appropriate training and support and maintain documentation of these efforts.
• Hold post-event exercises to analyze the response, learn from the situation, and adjust plans for managing future crisis situations.

Download the full Crisis Management Tip Sheet and other safety information at no charge from the National Safety Council:

https://safety.nsc.org/national-safety-month-2020-post-launch

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Sincerely,

Mike Schofield

Mike Schofield
President & CEO

MINICO INSURANCE AGENCY, LLC
Member ARAN Insurance Services Group

10851 N. Black Canyon Highway, Suite 200, Phoenix, AZ 85029