How To Survive A Corporate Crisis!

by Purvi Dalvi Writer

Every organisation, whether big or small is vulnerable to crisis. Corporate Crisis are inevitable, and the management ought to be prepared when they strike. When a crisis strikes, it exposes the company to the public eye, which in turn, may damage the reputation of the company. However, this catastrophe is the real test for managers. It is crucial for the company to regain the confidence of its employees as well as the clients. Primarily, the organisation must create an appropriate crisis communication strategy to minimize the risk of losing its employees and stakeholders.

These unexpected events may fester for months or even years. Under such circumstances, it is crucial for companies to strategies a proper crisis communication program that can benefit the company’s repute in some way or the other.

Preparing for the worst:

Let go of ‘It won’t happen to us’ attitude. Always have some proactive pre-prepared plans in case of an emergency. It’s imperative to always have a crisis communication program for an organisation’s personnel. This training will enable the staff to stay prepared and avoid the unnecessary hassle at that juncture. These training programs may include theory and practice, which can also include mock real-life scenarios, where the workforce may experience deadlines, pressure and stress of an actual crisis. Under such training, build a suitable framework which will divide the responsibilities in a right manner.

Following is a guide to building a crisis communication strategy and how to minimise damage:

Setting up a task force:

A corporate emergency will turn up at your doorstep at any moment, and it will always be uninvited. Hence, a company must assemble a team that is reliable enough to jolt the crisis. The team acts as the spokesperson for the company during such an event. The team is also accountable to prepare a strategy that provides solutions to the rising emergency and should be knowledgeable enough with the required expertise.

Assessment of the Crisis:

The first step during such event is to communicate about the catastrophe with the team. Figure out what the emergency is? Is it a financial risk, a legal notice, a stock market crash? Know it well and know everything about it. A balanced strategy must be developed mainly to safeguard the company’s reputation.

Take responsibility:

Be emphatic. Be upfront about the crisis and even apologise for the events that transpired. It doesn’t necessarily mean accepting the blame, but it showcases the real integrity of the organisation. If you don’t communicate about the act, someone else will speculate the event into rumours rather than facts.

Try to revamp your image:

The media isn’t your enemy during a catastrophe, though it may act like one. However, centralize your information and choose the right medium to send your message across. It is essential to use these platforms properly. Hence, monitoring technology is vital.

Post-crisis analysis:

When everything is under control, examine the impact of the issue. Find out what went wrong and how to prevent it in the near future. You can also set up a brainstorming session with the dedicated team to develop new crisis communication strategies.

A crisis brings both, danger and opportunities. Choose the latter to sustain and improvise your reputation among the corporate world.