The Custodian Insurance Industry Blog

January 30, 2019

What can the terrors of Brexit teach?

There is only one ‘t’ before ‘errors’ turn into ‘terrors’.

Some would say that the errors of Brexit have now taken us into the terror zone.

The whole Brexit thing can also provide parallels in running a business.  There are people involved, deadlines to be met and important decisions to be made. These decisions also have an impact on people they serve.

Although some of the brightest political brains in Britain have been involved, things haven’t quite worked out the way anyone would have hoped…

Lets take a look at how the conflict, lack of clarity, poor teamwork, and lack of information surrounding Brexit could just as easily occur in the workplace.

David Cameron. This is where it all started.  If ever there was an example of how one decision can have an enormous impact, THIS IS IT!  Unfortunately there was no Plan B here.  Risk is an important part of business, but if the dice does not roll in your favour then you always need a plan B.

Nigel Farage.  Like him or loathe him.  His impact on the direction the country has taken cannot be underestimated.  Ever had an estranged employee that people listen to?  If so watch out!  You could have your very own mini Farage!

Boris Johnson .  Took a couple of weeks thinking to decide if he was a leaver or a remainer.  In the end he decided that his own ambition was best not served in the government he worked in.  Ever had an ambitious employee?  That’s great, but ambition not aligned to your company purpose could be a dangerous thing.

Jeremy Corbyn.  Arguably a Leaver leading a team of Remainers!  Here we have the leader’s purpose at odds with most of his followers.  What do you do when you want to take your company in one direction but most of your people want it to go in another?

Theresa May. Sets a two year deadline to leave the EU when she triggered Article 50.  Every job needs a deadline but here we see how an unrealistic deadline can cause havoc and panic.

Unfortunately this is happening to the country and we don’t have much control over that.

However, in our own businesses we can do a much better job.

We can exit disruptive elements in our business.  We can also protect our business from disruptive employees by Employment Dispute Insurance.

We can have a Plan B.  If our own actions lead to mistakes which cost our clients, then we can protect our business with professional indemnity insurance.

Unfortunately the country doesn’t have that luxury!

If you have any questions regarding your policy or anything mentioned in this article then please do not hesitate to get in contact!  Just contact zahid@custodianinsurance.co.uk or call 0207 648 4343.

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