Rallying the Troops

8/19/2019 Rallying the Troops

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aul Riddeli

Comment

Rallying

the

troops Crisis

communication

and

reputation

management

in

financial services

Received ( in revised form): 25th June, 2013

PAUL RIDDELL

is Head of Strategic Communications at AX A Wealth part of AX A Group). He manages the strategic

com mun ications fo r the wealth management arm of A X A U K, whic h covers six separate businesses including

Architas Multi-Manager. A X A Wealth International, AX A Cor pora te Investment Services and A X A Elevate. Paul looks

after b oth e xtern al and internal re lations, including the company s social media, cor por ate responsibility, corpo rate

sponso rship and events, and brand strategies.

Abstract

Mot/voted,

engaged and trusted employees can help a com pany ge t over most crises, but achieving an

engaged workforce is not alv/ays straightforward. E mployees are a company s best am bassadors, and

having them all pulling in th

some

direaion is the first essential of reputation manag ement ßt/t

whether it is a lack of contingency planning, crossed wires between internal comm unications,

PR

and

HR, or just plain panic, the truth is that employees are too often overlooked at the very mome nts they

are most needed. Often, there is a total disconnect between those at the top and tJiose at the bottom

of an organisation, putting a huge amount of responsibility on middle manage ment. C ritically, how do

we get the middle layer to work effectively and be the glue that holds an organisation together, rather

than the vacuu m that can cause it to collapse?

Keywords

financial services reputation, management, employees, leadership, crisis,

staff

communications,

public relations

Paul Riddeli,

Axa Wealth,

Winterthur Way,

Basingstoke, Hampshire

RG2I 6SZ,UK

Tel: +44 (0) 1256 798442

E-mail: pau l-riddell@

axawealth.co.uk

MOTIVATING EMPLOYEES

Motivated, engaged and trusted employ-

ees can help a company get over most

crises, but achieving an engaged work-

force is not always straightforward.

Employees are a company s best am bas-

sadors, and having them all pulling in the

same direction is the first essential of rep-

utation managem ent. But w hether it is a

lack of contingency planning, crossed

-wires between internal communications,

PR and HR, or just plain panic, the truth

is that employees are too often overlooked

at the very moments they are most

needed.

Often there is a total disconnect

between those at the top and those at the

bottom of an organisation, putting a huge

amount of responsibility on middle man-

agement. Critically, how do we get the

middle layer to work effectively and be

the glue that holds an organisation

together, rather than the vacuum that can

cause it to collapse?

222

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CRISIS COMMUNIC TION AN D REPUTATION MANAGEMENT IN FIN NCI L SERVICES

The larger the organisation, the more

complicated the management structure,

and the greater the challenge. This can be

broken down into manageable parts:

• People: Do you have the right people in

the right places and are you treating

them correctly?

• Process: Do you have the right processes

in place to get the best out of people

and get them working together?

• ulture (which is really a combination

of the first two): How do you combine

peop le and processes in such a way as to

create a corporate way of thinking that

best represents your brand?

opl

Do you have the right people, especially

in that crucial layer of middle manage-

ment, who act to a set of shared values?

It is important to remember that for

many, the strongest lnotivation is simply

to be recognised for the work they do —

both internally and externally. If you can

help people to earn the admiration and

support of outsiders as well as colleagues,

you can build pride, engagement and a

sense of wellbeing in the workforce.

Asda is a good example, with its Green

Room website showing how the lines

between internal and external communi-

cations are blurring. In Asda s Green

Room, feedback firom staff and customers

is presented together, so that both play a

part in building and managing the brand.

Th e Asda G reen R oo m allows staff

to

get

together to find out what is happening

around the company as well as share their

own stories, pictures and videos. W hat

makes it unique is that this is done in a

very public

way,

without a corporate fire-

wall, and all stakeholders are invited to

participate. There are of course risks in

being so public, but Asda has ensured its

staff are aware of the dangers of com-

menting in a public domain with a hard-

hitting internal communications

campaign. There are also continued chal-

lenges, not least in ensuring content is

regular, that conversations are developed

and nurtured, and that staff engagement is

optimised. But it remains a bold initiative,

and an interesting example to see develop.

I was struck by a talk I heard a few

months ago given by Tim Leberecht,

Chief Marketing Officer at the design

group. Frog. He made a faiTiiliar point

about modern management — how it is

about giving employees control, and let-

ting them take more responsibility so that

they have a vested interest in the effective

management of their day-to-day affairs.

But Leberecht went on to mention the

alternative, which is occasionally to give

people less control — to surprise them,

which can often achieve unexpected pro-

ductivity benefits.

The contrasting examples Leberecht

mentions actually spring from the same

place. It is about treating employees

s

you

might treat your fiiends: usually asking

them what they would Hke but occasion-

ally being prepared to spring a surprise —

because you trust them enough to risk

their reaction.

The work of Simon Sinek, notably his

model of human motivation that he calls

the Go lden Circ le , is helpful here . He

believes all communications should start

with the key interrogatives why , how?

and what .

Most people, most organisations, know

what they do, but comparatively few organ-

isations know why they do what they do.

When we do not understand why we

think the way we think, or act the way we

ctwe

communicate firom the outside in —

we concentrate on the

what

the visible

manifestation. The most inspired leaders

and organisations, however, regardless of

©

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RiDDELL

their size or sector, all think, act and

communicate fi:om the inside out — con-

centrating on the

wliy,

the invisible motiva-

tion. Companies Hke Apple and Virgin are

brilliant at understanding the why at

appealing to consumers on an emotional

level, and their success speaks for itself.

In financial services, we need to iden-

tify our noble purpose, our why and the

little things that make such a huge differ-

ence to people s lives.

This

is

where

a lot has

gone wrong

in

financ ial services over

the

past decade

or

more.

The

assumption

has

been that

if

people

are

given enough money, they will

produce their best. This

is

utterly falla-

cious, and if an

everyday example

is

needed,

one

need only think back

to

2012,

when

we

were

all

struck

by the

remarkable contrast between,

on the one

hand,

the

generosity

of

spirit combined

with outstanding performance

of

Olympians

and

Paralympians,

and on the

other,

the

more selfish behaviour

and

inconsistent performance

of

certain

pro-

fessional footballers.

It

corresponds

remarkably closely

to the

difference

in

motivation, between those

who do

some-

thing

for

pride

in

achievement, along

with mutual respect,

and

those

who do it

above all,

for

money.

ro ess

The process covers

the

practical steps

we

can take within an organisation to help

and support people who act in the right

way for the right reasons.

When it comes to

process,

X wealth

has introduced various

things,

in consulta-

tion with staff to improve engagement:

• Breakfast

fuice :

regular seminars over

breakfast to update staff on key activi-

ties/business development, such as new

products

and

learning

and

developing

opportunités for staff. We also run the

Speakers@AXAW ealth program me at

breakfast meetings, with external, moti-

vational speakers such as David

Constantine MBE from Motivation.

David Constantine introduced

Motivation, an international develop-

ment charity supporting people with

mobility disabilities, and offered his

own inspirational story. Following a

diving accident in 1986 that left him

quadriplegic, David, along with Royal

College of Art student Simon Gue

designed a wheelchair suitable for use in

developing countries. Teaming up with

friend Richard Frost, they built their

wheelchair for a disability organisation

in Dhaka — which then asked the team

to produce the wheelchairs on a larger

scale. Motivation was established in

1991 and its products and training pro-

grammes have now reached over 135,000

people in 90 countries. Experiencing

Davids vision and determination, with a

clear focus on meeting the specific needs

of customers, inspired employees to think

about their own capabilities and the dif-

ference that they can make.

Cocktail S essions : an

innovative,

pecha

kucha -style seminar format with a mix

of speakers over drinks. Each speaker

has 20 slides, each running automati-

cally for 20

seconds.

Th e challenge is to

keep to

time.

This has proved a popular

and fun way for staff to learn about the

business, without taking up hours of

their

time.

Th e session can cover five or

six diverse subjects but aU be over in 35

minutes.

Diary Room :

Staff are encouraged to

make suggestions about, say, saving costs

or improving customer service via a vir-

tual ideas room with successful sugges-

tions progressing to the next stage, the

Wealth Den

based on the BBC s

Dragons Den,

where senior managers

act

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CRISIS COMMUNIC TION AN D REPUTATION MANAGEMENT IN

FIN NCI L

SERVICES

as dragons and listen to pitches and

agree to be in — to back the idea

financially or in kind; or out — to

decline to support. Dragons also fight

over supporting the best ideas.

•

Temperature Check :

Run in addition to

the annual staff satisfaction

survey,

this is a

quick online survey sent out every other

. month, allowing staff to share how they

are feeling about the business, which

helps shape the internal communications

programme to ensure it responds to

employees needs and concerns.

Culture

So how can we all aim to achieve the cul-

ture that will bind employees to the

organisation and make them its ambassa-

dors in bad times as well as good? Culture

is what it is — achieved through people,

our purpose (focused through a set of

shared values and behaviours) and our

comm unications. Th e following are my

everyday basics.

Listen. Th e f irst essential of friendship

is the ability not just to talk but also to

listen

—

you wouldn t have many friends if

you just talked at them. It is the same with

managing

staff

Give them an opportunity

to speak or otherwise contribute.

Be open, honest and credible, internally

and externally.

cover-up culture is only

storing up trouble for the future. If some-

thing goes wrong, hold your hands up and

say what you are doing about it. Invite in

outsiders, whether business consultants or

journalists. If they are impressed with the

way you do things, they will provide the

external, objective endorsement that can

do wonders for internal morale. If their

views lean towards the negative, then it

can give strong insight to help shape cer-

tain practices. Of course, inviting com-

ment from external parties does carry

risks, but it can be very powerful for

building trust and credibility, even if the

parties do not ultimately agree.

Think about communication delivery.

Look at the best way to get your message

out. Social media might reach certain

groups, but they will not reach everyone.

Older employees, by and large, will not be

so keen to use Twitter and Facebook. So

use flyers, bulletins and direct e-mails

when necessary.

Whatever you do , it is essential to make

messages consistent across all media —

internal and external. In the end, if there

is a serious discrepancy between your

internal communications and what is out

there in the mass media, your staff will

probably believe those external, suppos-

edly objective sources rather than you —

unless you respond quickly and defini-

tively, rebutting what is untrue or dis-

torted, and producing the evidence and

the first-hand accounts that will refute

misinformation.

Of course, the best way to reduce the

risk of misinformation is to put out your

own true information first Tell your stake-

holders what is happening before they ask

questions. Use what I call an issues bible: a

document that can support all likely sce-

narios/eventualities with an outline action

plan, key messages and questions and

answers for each audience that can be

adapted accordingly. Th e issues bible

covers all business areas and includes a

response for all anticipated issues, and

guidance for ones that might occur. This

saves valuable time during a crisis.

One way of keeping messages consistent

is by using a single channel for all

employees. AXA Group has introduced a

new communication platform called

One , a new global intranet platform that

has been custom developed. It provides

on e system for all staff in all AXA entities

around the w orld to share news and collab-

orate. It will be launched to U K employees

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RiDDELL

in late 2013, enabling

us to

profile content

and subscribe

to

internal newsfeeds,

or

establish communities

and

blogs.

We

beheve

it

will prove

its

worth

in a

crisis.

IN THE EVENT OF CRISIS WHAT

S

THE PLAN?

A culture that binds together its people

and process management will be a power-

ful bedrock

in a

crisis.

So what should

be

done when

the

crisis comes along?

• Act quickly but stick to the facts Be the

official place where all stakeholders

can be kept updated. To do this, you will

need to act quickly to establish clear

communication channels with employ-

ees and other key stakeholders. While

speed is vital, be careful not to speculate

or to repeat unofficial news updates that

may or may not be accurate.

•

Show your face

Be visible. Never under-

estimate the power of senior managers

being seen and looking in control, even

though their time will be hniited, as

they will be dealing with the crisis as

•well as being responsible for communi-

cating it to their teams. An absence of

senior management can unsettle

employees during a crisis.

• Establish immediate communication needs

Get rapid feedback from employees

to

help plan your communication priori-

ties. Keep

it

simple, such

as

three

key

questions:

—

H ow are you feeling about the news?

-What is your biggest concern?

— What do you need to know more

about?

Getting an early snapshot means you can

address the key issues quickly and be

really responsive. It is the only way to

know

if

your communication

is

having

the desired outcome.

Moving beyond instant response, what

else should be considered?

• Be

hon st

and credible

A cover up culture

is only storing up trouble for the future.

Avoid the temptation to keep staff

morale high by fudging messages.These

are invariably self-defeating. Nothing

will destroy trust more quickly than

your employees discovering they have

been kept deliberately in the dark.

• Use all available communications channels

Never forget to use all your existing

channels during a crisis to tell everyone

what is happening — but do not squeeze

out all other content. It helps for employ-

ees to see that business as usual is carry-

ing on despite the crisis. While it may

make sense to puU forward a deadline or

tw do not create a suite of specially-

branded crisis channels — this might be

counter-productive and alarming.

In the end there is no substitute for reaUy

knowing what is happening within your

organisation, and the only way to do that

is to be in regular contact with your staff.

That word regular should be emphasised.

You will not be able to engage people in

bad times if you have ignored them in the

good, and vice versa.

CONCLUDING REMARKS

By

way of

conclusion,

it is

notably worth

considering the John Lewis Partnership

as

an example

of

getting

it

right.

No doubt there

are a few

people

who

have

had bad

experiences with John Lewis,

but they

are

massively outnumbered

by

those

who

have positive experiences,

who

find helpful

staff,

quality goods

and a con-

sistency

of

service that

few of the

rival

stores

can

match.

The

partnership model

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CRISIS

COMMUNIC TION

AN D REPUTATION MANAGEM ENT IN

FIN NCI L

SERVICES

may no t be right for every organisation but

most can learn something from the way it

works. Producing outstanding results year

after

year

its success is entirely based on the

idea of looking after its people. Tha t

includes making avaüable its own country

estate at Leckford in Hampshire to every

mem ber of staff and every partner.

The partnership model is by no means

infallible. Decision making can be labori-

ous, underperformers can be hard to shift,

and changes happen slowly. But when

every employee can enjoy what would

normally be exclusive privileges, along

with an equal voice in the company s

affairs, and a share of the profits, it is no

surprise that they willingly pull in the

same direction. For the moment at least,

the results speak for themselves.

So here is the John Lewis Partnership

message, and it is one to ponder.

Remember that employees really are your

greatest asset. Remember it every day;

make sure you give those employees a

voice in your affairs; look after the man-

agers and make sure they have the support

they need. Trust them, and they wiU trust

you in return.

Then, when a crisis comes along, you

have a solid foundation to work from.

Th ink from the inside out. Take care of

the why, and the what and how will look

after themselves.

Reference

1 )

Sinek, S. (2009) Start Wit h Why: How Great

Leaders Inspire Everyone to Take Action ,

Penguin, N ew York, NY.

© HENRY STEWART PUBLICATIONS 204S-8SSX JOURNAL OF BRAND STRATEGY

VOL.

2. NO. 3 222-227 AUTUMN 2013

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Rallying the Troops