Reputational Risk Advisory
When a crisis hits your organization, your memory muscle kicks in from the many crisis drills you’ve conducted. Your first action is to immediately activate your crisis team. Then, as laid out by your crisis management plan your team prepares to execute one of the most important steps in managing your company crisis, execute communications to your employees, customers, and/or core stakeholders. That’s the textbook execution, unfortunately, many organizations’ first action is to limit all communications – otherwise known issuing a blanket “no comment”. What these organizations still fail to realize is that “no comment” is a comment.
When your organization experiences a crisis, the clock starts counting down to reputational damage the minute your stakeholders learn that something bad has happened. You need to out in front of the crisis to control the narrative of what has happened, how it happened, what’s being done to mitigate the problem, and why it won’t happen again. Do not let others tell your story; if you do, you have a much deeper hole from which to climb out.
Corporate reputation is based on the perception of your organization in the minds of your core audiences – employees, customers, communities, partners, regulators, and whoever else impacts or is impacted by your operations. You need cross-industry experts to partner with you to protect and promote your reputation. Soteryx’s crisis response team has been there and done that. We are positioned to seamlessly integrate with your crisis team to help shore up your strategic readiness and tactical resilience activities needed for all crises your company will encounter.
Soteryx partners with your organization to implement the following:
Quantify how identified risks will impact your reputation
Develop your starting point for measurement and improvement
Establish a process to detect and manage issues might affect reputation
Develop or improve your crisis/issue management processes, procedures and plans
Plan and conduct trainings and drills to increase your leadership team’s readiness to mitigate crises when they hit