According to a PRNEWS Online article published at the beginning of 2020, only about 60% of companies have a crisis plan on deck for whatever may arise. Of those, only about half would agree that their plans align with the company’s current status and are applicable for the current environment. That’s a lot of companies that would be at risk if anything were to happen, from a natural disaster to a data breach to a global pandemic.
Lo and behold, 2020 has definitely proved this point: a huge hole exists in the preparedness of most companies. And if you think your company doesn’t apply…it does. Banking and financial services, technology, education, transportation, pharmaceuticals, food, health care, consumer products and media and entertainment were the most crisis-prone industries, as reported by The Institute for Crisis Management’s Annual Crisis Report.
Consider the effects of coronavirus and the Black Lives Matter movement. Reputable companies of various sizes, tenures and industries went bankrupt, laid off large portions of their workforce, or had to completely rethink their business model to stay afloat when consumers suddenly couldn’t spend money as they normally would due to their own financial woes. Government bureaus and companies alike were forced to reflect on their operations, policies, and culture, and some were too shell shocked to know how to respond to consumer backlash while others made deep shifts to their company structures or branding. In both cases, communication is a key part of sharing your company’s point of view as well as purposeful goals moving forward.
While having legal and compliance associates on staff is helpful in preventing a situation from taking on a life of its own , a strategic response plan, developed by a communications team experienced in crisis response and crisis communication management, is crucial in resolving crises quickly, and well worth the initially R&D investment and training.
Companies don’t need to drop everything they know about crisis management, but they definitely need to reassess where they stand and add a few key lessons from their experiences this year. The Point Group has years of experience in developing thorough crisis response plans, training C-Suite executives for media, and working side-by-side with our clients when the crises do arise. The Point Group is always as invested in your business as you are. We’ll get you through it. That’s our #PointofView.
If you need help preparing for contingencies, updating your old plans, or managing a current, give us a call.
- Vulnerability Audits
- Crisis Planning
- Media Training
- Internal Communications
- Public Relations and Media Relations
- Coverage Tracking
- Social Media Management