British businesses are failing to protect their assets and devise continuity strategies, a study has found.
More than half (53%) of firms do not have a business continuity plan (BCP) in place to safeguard against possible downturns, according to a joint survey by the Chartered Management Institute (CMI) and the Cabinet Office.
And many organisations that do adopt BCPs do so haphazardly. Only 29% of companies plan in the event of a staff shortage and only 39% focus on the loss of systems.
Jo Causon, director of marketing and corporate affairs at the CMI, said: “Some hard questions need to be asked about why the mismatch between planning and protection is allowed to exist. Failing to provide safeguards for business operations does not make sense, unless it is taken seriously businesses and jobs will remain at risk.”