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Securing Your Future: A Proactive Approach to Continuity Planning

Updated: Jan 2

In the construction industry, adaptability and innovation are key to success. However, thriving in a competitive landscape requires more than reacting to challenges—it demands proactive planning. Continuity planning ensures that your business can withstand disruptions, protect its people, and secure its legacy for years to come.



Why Continuity Planning Can't Wait


Waiting for a crisis to occur before addressing continuity can result in financial strain, missed opportunities, and even reputational harm. A proactive approach allows construction businesses to safeguard against these risks while positioning themselves for sustained success.


Continuity planning is not a one-size-fits-all solution. Each business is unique, with its own structure, goals, and challenges, and an effective plan reflects this individuality. Whether your company is a small family-run operation or a large commercial firm, tailoring your continuity strategy to your specific needs is essential.


Collaboration: The Key to a Strong Plan


Developing an effective continuity plan is not a solitary task. Collaboration with key stakeholders—legal advisors, financial consultants, and surety providers—ensures that the plan is both comprehensive and practical. External advisors can provide valuable objectivity, especially for family-run businesses where sensitive issues may arise, such as succession planning or ownership transfer.


Your industry partners, particularly surety providers, are critical resources in continuity planning. Sureties care deeply about the existence of a solid plan because it reduces the uncertainty associated with potential disruptions. For example, if an owner dies unexpectedly and the company has $50 million of work on the books, the absence of a continuity plan could lead to severe financial strain or a labor exodus. This could result in unfinished jobs and significant losses for the surety. By identifying leadership succession, addressing financial preparedness, and documenting operational procedures, you can not only protect your business but also ensure your bonding capacity remains strong and terms remain favorable.


Securing Your Legacy


Continuity planning is about more than ensuring smooth operations during unforeseen challenges. It’s about protecting the livelihoods of employees, maintaining trust with clients, and preserving the legacy you’ve built in the construction industry. A strong continuity plan secures your company’s future and creates a roadmap for success in the face of change.


Start Building Your Plan Today


Taking the first steps toward continuity planning doesn’t have to be overwhelming. Begin by assembling a team of key stakeholders and prioritizing immediate action steps. From there, commit to regular reviews and updates to ensure your plan evolves alongside your business.

By addressing continuity planning proactively, you can navigate uncertainty with confidence, seize new opportunities, and position your business for long-term success. In the construction industry, securing your future starts with planning today


 


Sam Spengler

Bond Manager

601-326-4629



Sam Spengler is the Bond Manager at Ross & Yerger. He joined Ross & Yerger in 2023, where he specializes in construction and surety. He has 6 years of experience in risk management and insurance with various companies. He was a contract bond underwriter for 5 years with one of the world's largest surety companies.



Blake Martinez, CPCU, AFSB

VP / Shareholder

504-756-3401



Blake Martinez is a Producer at Ross & Yerger on the construction team. Martinez specializes in commercial insurance, captives, surety bonds, construction, and financial strategy.


 

ABOUT ROSS & YERGER


Ross & Yerger – one of the largest independent, privately-held insurance agencies in the Southeast – was established in 1860 and is headquartered in Jackson, MS. The firm has over 170 employees throughout their five offices in Jackson, Tupelo, Hattiesburg, New Orleans, and Memphis. Ross & Yerger is licensed in all 50 states and offers a full range of brokerage services, including insurance, employee benefits, bonds, financial services, and risk management consulting. For more about Ross & Yerger, visit www.rossandyerger.com.


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