A crisis is an unexpected yet, expected part of managing an organization. At least 95% of companies will face a crisis dealing with their reputation.
Timely constructing and planning for a crisis of any sort is critical to lessen the impacts generated that could threaten your brand’s reputation. That being said, anticipation and preparedness make a large difference when crisis and chaos occur. In Deloitte’s latest Global Survey on Reputation Risk study, 87% of senior managers recognized and talked about their company’s reputation and risks. Therefore, senior managers agree that reputational risk management is just as, if not more important than other types of strategic risks companies face. Around 22% of them have a systematic platform to measure risk and address it. Do you have a plan to protect your brand’s reputation if the unexpected happens?
Regardless of your business type or size, organizations should establish guidelines to help you see what areas need to be reinforced in preparation for an eventual crisis. Guidelines can also help professionals know what they should/shouldn’t do communication-wise when dealing with a reputational crisis.
Your business’s Crisis Management Manual should contain a carefully thought out process mapping possible risks, including reputational risks. You will need to categorize occurrence possibilities and their impact size and define the composition of a crisis committee, alert and reaction flowcharts, and a map of priority audiences the organization should communicate to in case of a crisis. Business leaders must develop basic communication tools and materials for any risk, keeping the public in mind and how they might react.
Even though a Crisis Management Manual can be restricted due to its sensitive nature, you will still need to disseminate and train your crisis committee accordingly. Your team and crisis committee assume an essential role when applying the established protocols and actions.
Suppose your company’s reputation is at risk when it does not deliver on stakeholder expectations. Stakeholders want and need to trust the companies, industries, and organizations that impact them. They make decisions based on whether or not organizations positively influence society and the environment. Ultimately, a company’s reputation can significantly impact its bottom line.
As members of the Worldcom network, we have quick and unfettered access to the resources of more than 80 global partners in 49 countries and six continents to work together in designing and implementing communications strategies for all key stakeholders. Contact us to learn more about what our comms advisors can do for your business.
*This article was originally published by Worldcom partner InterAmericana. It is reprinted with permission.