December 14, 2022

Human Resource Risk Management & Contingency Planning

Tweet
Share

Farms and agribusinesses are confronted by many different types of risk, but consideration to human resource risk is overlooked by far too many. If critical functions cannot be completed due to a death, disability, disaster, divorce, or disagreement the farm business cannot operate at full efficiency. One way to combat HR risk is by writing a contingency plan to help decide what to do if key operations are disrupted or key personnel is not available. In this first episode of a new series on Farm Risk Management, Maria Marshall, Renee Wiatt, and Kelly Heckaman join Brady Brewer to discuss contingency planning and human resource risk management. A HR Risk Checklist and the Planning for the Unexpected: Human Resource Risk & Contingency Planning pdf can be found below.

Additional Resources:

Human Resource Checklist Planning for the Unexpected: Human Resource Risk and Contingency Planning

 

This series is based on the Six Pillars of Farm Risk Management course, funded by the North Central Extension Risk Management Education Center. More information on contingency planning is on the Purdue Institute for Family Business’ website, https://purdue.ag/fambiz, under the Strategic Business Planning Focus Area tab.

Tweet
Share

TAGS:

, ,

TEAM LINKS:

Brady Brewer

Brady Brewer

Kelly Heckaman

Kelly Heckaman

Maria Marshall

Maria Marshall

Renee Wiatt

Renee Wiatt

RELATED RESOURCES

Contingency Planning with Cash Flow Shortages

June 4, 2026

A contingency plan is a course of action designed to help a business determine how to respond to possible future events. Contingency plans are often referred to as “Plan B”. One of the most common contingency plans used by a business, particularly a small business, relates to how to respond to the departure or absence of key personnel. Contingency plans relating to how to respond to changes in projected cash flow are also important. Given the recent increase in input prices for fertilizer and fuel and wide variability in expected prices, it would be prudent for a farm to examine the sensitivity of their cash flow and repayment capacity to changes in crop prices. This article illustrates the use of contingency plans for a case farm in southwest Indiana.

READ MORE

Financial Stress, Labor Decisions, and Farm Resilience: Tools to Evaluate Your Operation

January 29, 2026

Adding a family member or employee to a farm is a long-term financial decision. These slides and self-assessment tools help evaluate financial feasibility, strategic risk, and business resilience before expanding labor.

READ MORE

Financial Stress on Crop Farms: Who Is Most at Risk in the 2024–26 Downturn?

September 3, 2025

Midwest crop producers have experienced a significant downturn in corn, soybean, and wheat prices since late 2023, resulting in a drop in net returns in 2024. Moreover, current expectations are that prices will continue to remain at or below the cost of production for at least a couple more years. Consequently, a key question being asked is as follows: “Who is the most vulnerable financially during this downturn”?

READ MORE

UPCOMING EVENTS

We are taking a short break, but please plan to join us at one of our future programs that is a little farther in the future.

POPULAR RESOURCES

See What Others Like >>