Dependence on individuals.
WHAT THE RISK IS
One person whose absence stops the business.
Frequently the owner.
WHAT TO ASSESS
What only one person can do What only one person knows Whose relationships hold the customers
WHAT TO DO
Document how things are done Ensure someone else can perform critical tasks Ensure customers know more than one person
THE RELATIONSHIP POINT
If one person holds all customer relationships, their departure takes them.
WHAT ELSE TO ARRANGE
Access to systems and accounts, for someone trusted A record of where everything is
Our business continuity articles cover this.
WHAT INSURANCE MAY OFFER
Cover relating to key people exists in some markets.
Ask a broker whether it is available and appropriate.
WHAT IT DOES NOT DO
Replace the person or their knowledge.
WHAT TO PRIORITISE
Documentation and cross-training.
Those cost nothing and address the actual problem.
WHAT TO REVIEW
Annually, what remains dependent on one person.
