Reputation in Business: Lessons for Leaders

There is no doubt that the reputation spotlight is expanding and intensifying. All communications professionals know and understand the value of a reputation. But expectations are constantly changing, and this brings a new set of rules for. Ignore those rules and risk your reputation.

In a great discussion with Milos Labovic , we spoke at length about my book, Reputation in Business: Lessons for Leaders. You can watch the full discussion on?YouTube. This blog highlights a few of the issues we discussed.

Everyone must have a plan

Some sectors know that by the very nature of what they do, or their past behaviour, they need to invest in their reputations. They appreciate the damage that can result from continued media attacks or, worse still, political intervention.

There are fundamental rules for ‘getting ready’ of which everyone across an organisation should be familiar and involved. Preparation is always the key. The more investment that is made in preparation, the more likely you are to build and protect a reputation so:

1. Create a plan of action
2. Identify potential risks and address them.
3. Assemble a crisis management team.
4. Develop emergency processes.
5. Practice your plan.
6. Stay informed.

?This should happen a constant loop and never stand still.

The new rules of communication

Changing expectation, the nature of media and social media activity, the need for politicians to show that they are ‘in charge’ of events have all led to a set of new rules when it comes to reputation management.

Rule One:?nothing stays secret forever – whether it is a leak, whistle-blower, or anonymous source, the assumption should always be that whatever your activity, even if you believe it has nothing to do with anyone else, plan for it becoming public. If it does then you are in the best position to explain it.

Rule Two:?ask yourself the difficult questions before anyone else does. It can sometimes appear that questions from the media come as a bolt from the blue. They shouldn’t. They should all have been prepared for.

Rule Three:?always consider the worst-case scenario – and then prepare for it. The best approach is to be your own worst critic rather than letting someone else take on that role.

Rule Four:?try and keep ahead – by monitoring the media, politics, and activist groups, you can keep ahead of where the future pressure will come from. A lack of wider perspective and understanding can lead to weaknesses in approach.

Rule Five:?constantly review – instead of just updating communications or crisis plans every year or two, they need to be constantly updated considering new information, changes by competitors, new stories that emerge etc. Expectations of reputation change. So whatever plans were considered even a year ago will already be out of date.?

The eye of the storm

A question came up during the session about how to act if a crisis does hit. Assuming that all the steps mentioned above have been put in place there is still something very different about being at the centre of a crisis as it is happening.

How should you react?

1. Take a deep breath – this prepares you for the internal and external pressures about to be applied.
2. Warn those around you what it is going to be like – especially for a Chief Executive or Chair, a realisation comes that a crisis takes over their lives. If becomes difficult to do the ‘day job’ and they need to recognise that from the outset.
3. Get the team assembled as quickly as possible and ensure that the you have the right people and skills there for this particular crisis – planning is one thing, the reality another.
4. Get some honest reaction to the crisis issue – that is needed as it largely dictates the response. There is no point defending the indefensible or starting out on one path only having to change position later – it leads to greater reputational damage.
5. Be prepared to start conversations with the media and other stakeholders even if you do not initially have all the answers. A vacuum is the worst place to start communicating. The media, in particular, will look to fill a vacuum and that is unlikely to help.

I am always happy to talk about reputation management and political engagement. Feel free to get in touch.