HIW CRR 2022 FINAL - Flipbook - Page 13
BUSINESS CONTINUITY
Through extensive planning and analysis, our Board
of Directors and Executive Team continuously refine
our Business Continuity Plan and enterprise risk
management framework and strategy in response
to changing market, environmental and financial
conditions. This proactive approach, along with the
commitment of our coworkers and a strong balance
sheet, enables our organization to successfully
navigate through challenges as well as capitalize on
opportunities afforded to us due to thoughtful
planning and deliberate choices.
We strive to create healthy and adaptable workplaces
that anticipate the changing needs of our stakeholders
and promote health and well-being. In a time when
our industry is quickly evolving, we believe that
business continuity and resiliency planning is critical
for market differentiation, responsible corporate
citizenship and long-term financial success. Looking
towards the future, we will continue to plan for
unforeseen events, reimagine what is possible and look
at every challenge as a way to build a stronger, more
resilient organization.
HURRICANE IAN PREPARATION
Highwoods prides itself on preparedness and doing our best to keep our employees, customers and
visitors healthy and safe in all situations. In preparation for extreme weather events like hurricanes,
we implement our Business Continuity Plan, which outlines safety procedures for all staff during the
hurricane season.
In the fall of 2022, our Tampa and Orlando markets were impacted by Hurricanes Ian and Nicole. On
September 28th, Hurricane Ian made landfall on the west coast of Florida as a Category 4 storm with
top sustained winds of 155 mph. While the hurricane caused significant damage, the City of Tampa was
extremely fortunate because landfall was south of the city. On November 10th, Hurricane Nicole made
landfall on Florida’s east coast as a smaller Category 1 hurricane and moved west towards Tampa.
While not as strong as Hurricane Ian, the impact on land was similar to Ian due to sustained high winds.
In advance of both hurricanes, our Tampa and Orlando response teams immediately jumped
into action by implementing our Hurricane Management Plan and closely communicating with
our customers and corporate office. Anticipating communication challenges, we encouraged our
customers to utilize our service phone line, including the deployment of satellite phones, so that we
could quickly respond to all customer concerns. As the hurricanes tracked closer, we implemented
our building shutdown procedures to ensure
the safety of our customers, our people and our
assets and closely monitored both hurricanes
until the storms passed. Through planning,
preparation and close communication, we
successfully navigated both hurricanes and
identified opportunities to further refine and
expand our management plan to prepare for
future extreme weather events.
HURRICANE IAN
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