Not so sure I need to double my backup
But what you do have you’d hate to lose, instead of merely your employer hating to lose it.
Redundancy in all things is a good policy. You can’t really cover all things, but at a minimum the number of backups, types of media, location, and backup software have all proven to be important over the years.
You need more than a single backup drive. Backup drives fail, and they can fail at the same time as the original drive e.g. if there’s a bug in the OS. With two backup drives, rotate them so that one is always disconnected.
Media types have different failure modes. SSDs are far better than they used to be, but when they do fail, they often fail with no warning whatever. HDs usually show signs of trouble such as slowing down from multiple retries at reading and writing soon enough to replace it while the data is still accessible. Having one SSD for a potentially fast restore, and an HD for more potential to rescue the data on the backup disk is a good plan. A failing HD is also useful as an archival copy.
You need at least two separated locations. House fires, thieves, and earthquakes happen. Keeping a backup copy at a friends house will help with the house fire or thieves, but possibly not for earthquakes or tornados. Online off-site backups the best solution for a regional disaster, but check where the servers are physically located–you don’t want them to be in the same regional disaster that could hit you.
All software has bugs, including backup software. Back in the day (late 90s?), LaCie made their Silverfast backup software free for the basic features. I tested it see if I should recommend it to users, only to find out that on each run it would randomly not backup a folder tree or four. Other backup software, including Time Machine, have had problems. Use at least two different ones. My favorite example is still from a Tidbits server failure:
A wonderful very short tutorial for backup strategy (in the form of a story) is the Tao of Backup. It describes the important issues for reliable backups and how things go wrong.