Recession proof communication final.ppt
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The document discusses strategies for effective corporate communication during economic downturns, emphasizing the importance of employee engagement and transparent communication. It highlights common mistakes organizations make in handling communication and suggests best practices to mitigate negative impacts. The author stresses that effective communication can be a crucial factor for organizational survival and success in challenging times.
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Recession proof communication final.ppt
- 1. Recession Proof Corporate Communication Staying ahead of the downturn Aniisu K Verghese April 21, 2009
- 2. Disclaimer Due care has been taken while preparing this presentation but the author cannot be held responsible for any misuse or misrepresentation of information. The views expressed in this presentation are those of the author. Data for this presentation has been drawn from various sources and is gratefully acknowledged.
- 3. Introduction Currently work as India Internal Communication Lead at a global services firm Worked with Accenture, i-flex, Leo Burnett Write for management publications Interests – workshops, founded road safety NGO – Friends For Life, graphology, tennis, meditation, traveling Blog: www.intraskope.wordpress.com Road Safety: http://civic.websitewelcome.com/~fflonlin/anishhome.htm Blog: www.roadsense.wordpress.com
- 4. Agenda Recession and ‘Recession Proofing’ - what it means to leadership and organizations Trends Mistake organizations make Ideas to be ‘Recession Proof’ Summary Q&A
- 7. "IN GOOD TIMES, EMPLOYEE ENGAGEMENT IS THE DIFFERENCE BETWEEN BEING GOOD AND BEING GREAT. IN BAD TIMES, IT'S THE DIFFERENCE BETWEEN SURVIVING AND NOT. IN GOOD TIMES AND BAD, LOW ENGAGEMENT REDUCES PERFORMANCE AND PROFIT AND UNDER THE CURRENT CIRCUMSTANCES, MANY COMPANIES CAN'T AFFORD TO LET THOSE DROP” - JAMES K. HARTER, PH.D., GALLUP'S CHIEF SCIENTIST OF WORKPLACE MANAGEMENT AND WELL-BEING AND COAUTHOR OF 12: THE ELEMENTS OF GREAT MANAGING.
- 8. Recession means…revisiting Maslow’s Hierarchy “ The economic crisis gives organizations an opportunity to examine every aspect of their business model and lay the foundation for sustainable growth and improved competitive advantage.” - Timothy P. Flynn, Chairman, KPMG International. “ More than 93 percent of employees are ready to hear the truth about the future of their company, pay, benefits and job .” (Study by Towers Perrin)
- 9. Recession Proofing means…. ‘ Recession proofing’ involves reducing uncertainty, improving confidence and focusing on outcomes. It also means supporting the organization stay on course to be successful. It is in about reinforcing the mission and values even more. Involving and keeping the employee at the forefront of all your communication
- 10. All is not lost… Nano: 300,000 customers visited showrooms in the first ten days since the small car was launched. Did you know that General Motors' sales in China continue to grow? That India is contributing $11 billion to the International Monetary Fund?
- 12. What’s on their minds?
- 13. “ Only 43 percent of employees said their companies effectively managed business changes , and organizations that managed change poorly had a - 5 percent return on shareholder value over a three-year period” (Survey by Watson Wyatt) “ Companies with engaged employees grow earnings 2.6 times faster than those who don’t” (Source: Gallup Poll)
- 14. Trends we see Corporate communication/support function jobs cut Reduction in spend (communication, travel etc) Zero investment in training Engaging employees becoming secondary Trust eroding among organizational communication channels “ people tend to trust their peers more than authority figures .” 2006 Edelman Trust Barometer
- 15. Mistakes organizations make “ Cost cutting = reducing staff, removing benefits, eliminating toilet paper!” “ Downturn is a time for scrutiny and waste management” “ Staff can always be re-hired” “ Communicate less” “ Don’t spend on engaging employees – they are pampered” “ Stop building your brand – now is the time to save money” “ Leadership offsites are fine” “ Let us not share all information – we may be viewed as weak”
- 16. Best Practices 50 HP executives logon to blogs each day to join conversations Ernst & Young recruits 3500 college grads using a Facebook career group UAE ruler launches connection with people www.Uaepm.ae The Vatican is on YouTube! Accenture: peer review: Brand Hotline of collateral UBS: emergency 24 hour communication review, top 50 leaders meet one person each a day GE: Jeff Immelt addresses employees via interactive media Ford: Chief Blogger Scott Monty uses Twitter and other Web 2.0 tools to communicate Bank of America integrated external PR with news flash on intranet so that employees to get to hear it first
- 17. Tap the wisdom of your employees - Crowdsourcing The value of social media is proportional to the rate of participation www.threadless – sells t-shirts designed and voted by people Others: InnoCentive – R&D for pharma Galaxy Zoo – users classify million galaxies Emporis – building data with users RYZ – creates shoes using designs from users
- 18. Connect with communities New media technologies can build communities and increase discussion Trends: Niche Networks (dogster.com/ dopplr.com) Customize your network (ning.com/onesite.com Reputation Management Wink.com/reputa.com Aggregators Ex.plode.us/profilefly.com Second Life www.secondlife.com Coca Cola and others are engaging Second Life residents
- 19. The Power in Your Hands New media technologies puts broadcasting in your hands Provide messages Share videos for viral marketing Can your employee engagement video go on YouTube? Can you share your quarter leadership meet/hiring event photos?
- 20. Enhance Collaboration Can you collaborate effectively across teams on the Web? IBM created a wiki to help employees develop their own blogging policy P&G Goal for 2010: source 50% of new product & service ideas From outside the company Has opened patents to the world PBwiki.com
- 21. Be Aware…. Of the Risks involved….. Privacy E-Crime Exposing internal systems Corporate espionage When things go wrong BMW sacking session goes live on You Tube http://www.youtube.com/watch?v=1UwVRSGEI-w
- 22. 5 Ideas That You Can Use ‘ More with Less’ Strategy Zero based budgets Measure all that you communicate/do Involve your people Focus on the positives “ Consistent communication key among best employers” Outlook Business – Hewitt Associates study - 2009
- 23. Summary Downturns may not last, but organizations that communicate effectively will. Leverage simple ideas and Social Media tools to keep your communication recession proof Craft consistent messages, reinforce often Communicate directly, all, first and fast Focus on the positives – involve employees to achieve success together Values will sustain in the long run
- 24. References http://gmj.gallup.com/content/115213/Building-Engagement-Economic-Crisis.aspx http://businesstoday.intoday.in/index.php?option=com_content&task=view&id=10257 http://www.hewittassociates.com/Intl/AP/en-IN/AboutHewitt/Newsroom/PressReleaseDetail.aspx?cid=6359 Wikipedia.org www.ragan.com www.melcrum.com http:// gmj.gallup.com/content/27799/Investors-Take-Note-Engagement-Boosts-Earnings.aspx
- 25. Contact Aniisu K. Verghese Blog: www.intraskope.wordpress.com E-mail: [email_address] Linkedin: http://www.linkedin.com/in/aniisu
Editor's Notes
- #16: During the recent merger of Merrill Lynch and Bank of America, a town hall meeting planned for employees of the newly merged organisations had been cancelled because of cost saving measures (Hood, 2009) .
- #23: Piggy back on internal channels Use every opportunity to share messages: office updates, information security Centralize communication efforts Not every communication requires a budget Empower managers to cascade information, engage in face to face communication Create ready-to-use communication packages/templates (time saved is money gained) Leverage ‘influencers’ in your organization Case: Nokia: sought ideas from employees on saving costs and improving profits