As the world slowly opens back up, people are realizing that the world will not be the same as it was before the novel coronavirus pandemic.

Consumers are much more hesitant to go out on the streets because of fear of the virus, business operations are at constant risk of disruption, and governments are swinging back and forth between loosening and tightening regulations. These circumstances are set to send economies plummeting if effective steps are not taken to adapt to the new normal. The first and perhaps most important step that should be taken is to develop a Risk Management Framework to specifically manage COVID-19 risks.

Read more below to learn what type of Risk Management Framework industry leaders are adopting to protect their operations from disruption, their employees from exposure, and their customers and communities from another outbreak.

COVID-19 Risk Management Framework

A comprehensive Risk Management Framework includes 4 core parts:

  1. Preparation;
  2. Prevention;
  3. Response; and
  4. Recovery.

Each of these parts covers a distinct business need and should be thoroughly analyzed to ensure that the applied framework is effective and robust. If each part is defined correctly, this framework sets the groundwork for any organization to operate safely and efficiently during these difficult times.

Once you’ve established the appropriate framework for your business, the next important step is to ensure you have the right tools to monitor its execution. With a problem that spreads as fast as the novel coronavirus, static documents and long, slow communications through a rigid command chain are no longer good enough. Businesses of any size need to ensure that their framework is speedy, effective (and digital) from end-to-end; execution, monitoring, reporting, corrective action plans, analytics and even the framework definition itself should all live in cloud-based programs where stakeholders can quickly and securely access the needed information remotely, where information is consistently updated, and where implementation is scalable.

With the guidelines above in mind, we’ve created a brief outline of how the 4 core parts of the Risk Management Framework should be understood and what are some of the best digital applications of them that we’ve seen on our protocol execution platform, Konfya.

Risk Management-Model BY KONFYA risk management How a Digital Risk Management Framework Protects Business Operations from COVID-19 RiskManagement Model

Preparation

The first step to protect your business from COVID-19 is Preparation. This involves all the medium to long term measures you put in place to ensure you’re ready to respond effectively if an issue arises. Preparation measures include training employees, forming response teams, infrastructure changes like improving ventilation or contactless customer flows, identifying business critical processes, and so on.

On Konfya, you are empowered to digitize all preparation measures and more. You get access to Health and Safety e-learning courses where you can track employee training progress, configurable continuous improvement programs to assess risk levels at your facilities, and insightful analytics to help you identify trends and gaps in your operations. The core of our philosophy is to enable clients to move away from a reactive approach, and adopt more proactive strategies to manage risk. This requires a comprehensive understanding of your business’s baseline, to identify trends, areas for improvement, and possible risks quick enough to provide you enough lead time to react. This is only possible if you have a digital platform to support your operations through this important preparation process.

Prevention

Prevention measures are all the steps you take on a daily basis to mitigate the risk of COVID-19 infections in your facilities. These include temperature checks, replenishment of disinfectant and PPE, verification of protocol execution, cleaning and sanitizing high-traffic areas, and more. Prevention measures are extremely important since they’re the ones that most significantly reduce risks for your business; however, they also tend to be the quite costly if not managed efficiently.

Many organizations are investing huge sums of money in daily prevention measures, but due to how quickly the coronavirus situation progresses, have not been able to ensure that these steps are executed efficiently, or that the execution of these steps result in a return on the investments poured into them. With the World Health Organizations reporting that it can take at least 5 years to be able to “manage” the pandemic, businesses need to get smarter in how they execute these daily prevention measures. How?

By adopting digital platforms that facilitate the monitoring of these activities and allow for strategic prioritization of resources based on risk. With the slowdown of the global economy, businesses need to adopt tools that allow them to work more efficiently.

On Konfya, we provide all the necessary features to manage daily preventive measures more efficiently and to get a greater return on investment. You can leverage our thermal camera integration, mobile protocol verification checklists, in-app employee guidelines and more to streamline related daily activities and reduce costs. With this digital approach, you can use our QR-code capabilities to share the steps you have taken to prevent coronavirus transmission and demonstrate the extent and effectiveness of your efforts with employees, clients, and government authorities. For example: showing your clients that your facilities have been meticulously cleaned on a daily basis and bringing transparency to your sanitation practices and guidelines through your QR code can help encourage clients to resume business with your locations. If you’re investing significantly in these prevention measures, you might as well tell the world about it!

Want to be featured in our blog? What steps are you taking on a daily basis to protect your business from COVID-19? We’d love to hear and feature your story!
Get in touch with us here.
risk management How a Digital Risk Management Framework Protects Business Operations from COVID-19 431b3328 5aa7 43b8 8807 3da8a3e803cc

Response

Imagine this scenario: a customer enters your store and is reported to be showing symptoms by your team. What should your employees do?

How quickly and accurately teams respond during COVID-19 incidents drastically affects how such instances impact your business. Response delays due to communication chains, lack of empowerment, and lack of clarity can make the difference between quarantining a single employee or having to close your entire facility.

Most of our clients, before beginning to use Konfya, were relying on PDF and PPT documents to provide their employees with response guidelines. In some cases, the specific nature of each facility and the issues they face made these documents so long that no employee really read them in detail. In others, companies tried to implement a “one size fits all” approach to their response plans and rapidly found out that these weren’t flexible enough to adapt to differing realities on the ground. These shortcomings are extremely dangerous, since in both scenarios, employees who are facing life-threatening COVID-19 situations are left without the tools and guidance they need to respond. We’ve worked with all these clients in setting up dynamic and automated response plans that provide employees with the exact steps they should follow in specific cases, accounting for a wide variety of situations. We’ve been able to do this effectively and efficiently thanks to the power of Konfya.

With Konfya, you can configure mobile response plans that your employees can immediately access whenever an incident happens. Guide them through what they need to do and keep a digital trace of all actions taken at the same time for later review. Furthermore, with our notifications, you can ensure all the right people are in the loop on what’s happening so as to avoid further COVID-19 damage. Konfya enables administrators to configure, in advance, a set of recommendations on what should be done in case that different problems are reported, or if varying parts of the configured protocols are not being followed. These recommendations are instantly presented to users whenever something goes wrong so that they immediately know what to do.

Speed, clarity and transparency – these are the most important traits of a good response plan, and that’s exactly what Konfya provides.

Recovery

Once the dust settles, it’s time to assess the damage done and recover. Instead of initiating a time-consuming investigation, investing in health and safety consultants with little guarantee of their efficacy, and creating posters and banners to rebuild consumer and employee trust, you can use Konfya to optimize your recovery efforts.

With Konfya, all the data you’d need to look back on to understand what went wrong will already be digitized and only a few clicks away. Once you’ve identified what went wrong, use our Corrective Action Plans module to monitor the improvements you decide to implement. Want to get third-party advice? You can work with an Inspectorio Partner or industry leaders in the health and safety space during your recovery process within the platform. Full accountability and streamlined collaboration are both key to successful recovery efforts!

Lastly, once you’ve put in the effort to improve your health and safety measures, showcase your efforts and progress, and share your learnings and best practices with the world.

Use your personalized QR codes to share your health and safety practices and coronavirus prevention measures with employees and clients to rebuild trust in your business. With these 4 parts of the Risk Management Framework well-defined, digitized and ready for execution, you can rest assured that your business will be much less likely to be disrupted by the pandemic.

Like with any other risk however, every day that goes by without such measures in place, is another day that your operations are in danger.