A newsagent recently experienced a major computer malfunction and required access to a backup to load recent data onto the new computer. They did not have a backup as they said it was taking too long every day so they stopped doing it a year earlier.
Now, thanks to cloud based services, continuous local backup drives and other devices there are many options. There is no excuse for not backing up.
My management advice today is to check that you are backing up and that it is working. If time is an issue, enquire about services that eliminate the need for your time.