Business Communications

The Value of Bad News

Business, Business Communications, Communications, Leadership

An interesting article caught my eye recently on the importance of listening. It specifically looks at senior leadership and the challenges of remaining connected to the full organization while creating an environment that fosters sharing and listening across levels. The article is titled Are You Really Listening? via Harvard Business Review (limited number of articles per month free or for subscribers) and is worth a read in full.

For years, CEOs and other senior leaders (corporate, agency, and nonprofit) have often struggled alone in managing the pressures they face. Despite being in charge of hundreds or even thousands of employees, it can be a very lonely role. The expectation exists to be confident and strong in their decision making, to always have a handle on what’s coming next. Studies have shown that many CEOs don’t feel that they can have someone internally with whom they can be truly open and honest in working through ideas or challenges they face.

Because of these pressures and challenges, it is easy to become disconnected from those with lines of sight to the day-to-day operations. It’s also common for information moving up the chain to be revised at each step to appear more positive. Managers and directors along the way don’t want to be the bearer of bad news either so senior leaders may be receiving filtered information that paints things in the manner that staff “believe” leadership wants.

“At the core of the challenge is a paradox in the life of senior leaders, particularly CEOs: They generally have access to more lines of communication than anybody else has, but the information that flows to them is suspect and compromised. Warning signals are tamped down. Key facts are omitted. Data sets are given a positive spin.”

Are You Really Listening? – Harvard Business Review

There are a number of great takeaways within the article and Adam Bryant and Kevin Sharer provide quality insights so I won’t repeat those but one aspect that I’d like to expand on is the importance of accepting, and actually encouraging, staff to share bad news.

In my career, this has been one of the major challenges that most organizations face. It’s hard to share bad news, really hard. Every employee wants to perform well and succeed so sharing news like “the promotion isn’t working” or “customers don’t want our new solution” with your boss can be a scary proposition. The first time I ever made a mistake at work, which turned out to be a relatively easy to fix once I summoned the courage to raise it, I was absolutely sure I was going to be fired and finding a new line of work. Yet I’m still here 25 years later thanks to a great boss that probably saw the fear on my face and calmly talked through a couple options to get things back on track.

To empower staff to share information openly, consider the following:

Directly communicate the importance of unfiltered updates– The best way to convey your need for essential, open information is to state it early for all employees. The information coming in from all sources in the organization must work together to provide the organization with the flow of real-world feedback needed to succeed. As a manager or leader, you can’t do your best work without the support of employees in their roles. Be sure every employee knows that as well.

Walk the talk in supporting culture- It is easy to say “come to me with anything” but without a system in place and backing from the top of the organization that statement rings hollow. The first time any employee comes to you with a concern or bad news, how you react will set the tone for the future interaction with them and anyone else that knows of the issue. A disappointed look, frustration, or anger will carry more weight than any policy they’ve read. You begin building trust from day one and you continue to earn it over and over with each update, good or bad.

Create regular touchpoints to listen and clarify- Establishing a regular cadence of updates from all levels of the team allows senior leaders to have timely, open updates. Putting the pieces together from all sources of information throughout the organization is the responsibility of leadership. To do that, they need full access to information but that also requires focused listening.  A meeting can shift into something that just has to be done and then on to the next one, particularly for remarkably busy individuals. Don’t make that mistake and slip into turning a valuable commitment into a missed opportunity. To gain the strategic value from listening, you must be fully present to hear what is being said and take the opportunity to clarify and ask questions. Actively listening provides employees with the confidence that they are valued and trusted while senior staff get the insights they need to effectively set the right strategic direction for all.

Overcoming Obstacles and Inspiration

Business Communications, Communications, Life

In 2020, one positive that came from such an unusual year with more time at home was a re-birth of time spent reading by so many of us. While I didn’t get through as many books as I personally hoped, (it was still an odd year with plenty of other things to deal with) finding ways to learn through traditional business education or inspiration to think was a critical way for so many to keep some balance in an upside-down world.

I recently completed Fear Is A Choice which is the story of James Conner and all he learned in facing cancer as a young athlete. Initially, I wanted to read this book mainly as a Pittsburgh Steelers fan but as I read I found much more. Conner recounts his experience as a college player with dreams of the NFL, through diagnosis and treatment, to ultimately learning to embrace the new role he carries as a face for thousands of others facing cancer.

Through his personal journey, Conner gained wisdom beyond his years and I found myself thinking about how many of his messages are true values that can apply to our professional lives in addition to being great advice for daily life.

A few highlights included:

  • The more you are able to recognize the people who are walking beside you, in whatever capacity they can, the more grateful you will become for the allies you have, and the stronger you will feel.

    This was included appropriately enough within a chapter titled “Recognize Your Team” which we overlook far too often during tough parts of our professional journeys. When you consider this in the context of a career, it’s a pretty powerful concept. In a year when so many faced significant career change, think about those that have made an impact on your professional journey and how much it means when someone really believes in you, and walks with you during the challenging days. Take the opportunity to look around from time-to-time and do all you can to walk beside others whenever you can too.

  • You are in your position, living out your story for a reason. You were uniquely created to do something with the exact circumstances you’re facing. Your story exists for you… Don’t wish yourself into someone else’s life. Don’t wish yourself out of your own story.

    Over the course of your career, there will be success and failure. Everyone will be faced with both and often times the grass always looks greener on the other side, but the obstacles hold the potential to be the moments that transform us.

    For young professionals, please know that while you may not be where you want today, don’t run from or rush your story- it’s meant for you. For my fellow gray-haired friends, your story continues to grow and may even change dramatically from where you’ve been and that can be THRILLING.

  • Your courage to engage life with passion and chase your dreams despite setbacks sends a message to others. By coming out the other side of a challenging time stronger than ever, you are carrying a little bit of their fear and discouragement; you are making their load a little lighter because they know you’ve already walked this road.

    It’s been a year— we’re all working through things together and every time you do something brave you inspire the next person behind you. At a time when inspiration is needed, the work you choose and how you react to challenges can be more meaningful to others than you may ever know.

The Value of Information

Business, Business Communications, Finance, Social Media

Social media has certainly changed the role of PR pros in a myriad of ways. Clients or employers no longer expect just a book of media clips to show the value of public relations. More and more, communicators are being asked to extend their roles to encompass what might have been described as marketing, sales, and customer relations.

Aside from the titles and tools though, has the real value proposition changed?

In 1987 one of my favorite film characters ever, Gordon Gekko in Wall Street, hit on a very real business truth. “The most valuable commodity I know of is information.”

Information sharing is at the core of social media. At a time in the PR industry when access to members of the media is just a mouse click away for almost anyone and a well done blog post can generate as much visibility as a hit on the six o’clock news, PR pros can play a vital role in organizational success based on this concept.

  • Assess the information coming into the organization

Begin by listening to what’s being said. What are the messages resonating about your company? Are they positive, negative, or (perhaps even worse) unclear?

Provide your clients/company with strategic counsel at this stage on what the marketplace is really saying about the brand. The speed with which problems can go from minor to a major issue is significantly faster with social media than in the past. Continually listen honestly to understand where you fit in market in the eyes of the public and communicate that with the leadership team.

  • Understand the benefits and limitations of distribution channels

Next step, take some time to think critically about old habits and if there is a need to change your approach. As an example, if a controversy were to flare up online, PR pros need to make the call on how to respond. A traditional news conference likely isn’t the fit. Get rid of any habits that are wasted effort.

A Facebook fan page complaint may well be best addressed in a discussion right on the page. But what if the comment is on a third-party blog? Spend time *now* before there is an issue to get up to speed on social channels and how information moves uniquely in each one. Social media communities are not interchangeable and cannot be treated as such.

  • Create information to fill a need

This is where the preparation comes together. Once you understand the market perception of your organization and the channels available to you, it comes down to providing the audience with the information they need and can’t get anywhere else.

Rather than pushing out material *at* people, this is the point where PR practitioners can demonstrate their own value by creating unique content that addresses gaps for the customer. Consistently hearing that your company isn’t providing clear guidance on a service? Then try a YouTube video shared socially to walk through those challenges in a simple manner with some personality. Or maybe it’s a well-written post on a major industry blog to address the concerns. The key outcome is solving a problem that exists for the market and in doing so; you will enhance the value of a particular brand.

Gordon Gekko had it right 24 years ago; the most valuable commodity is information. Now go out and share some information that will be helpful as well as advance your goals.

Don’t Fear the Financials

Business, Business Communications, Communications, Finance

finance, financial PR, annual reports, PR mathOne of the great misconceptions about the communications industry is that it is just a creative industry. Only right-brain people need apply and it’s all about being a “people person” and connecting.  Those are fine traits but communications professionals must be balanced and there remains an inherent fear in a lot of PR or communications people to tackle math and financials.

The truth is that it isn’t that hard to pick up a decent level of financial understanding and I have great faith in my communications colleagues. It’s just a matter of practice and taking the time to work through a few examples. Being able to read an annual report effectively is an important start so you can understand the current state of your company, clients, or competitors. By just walking through a few tutorials, you can understand all the basics needed to find important information about a company in those seemingly confusing sections. As a starting point, check out this How to Read an Annual Report post which provides a nice step-by-step process and examples.

From there, communications pros that are a bit shy about annual reports, 10k filings, and regulatory documents might be pleasantly surprised what intelligence and research is already out there about companies that will help improve their own work. After getting a few of those basics down, try checking out a site like Investopedia to work through the next steps like economic indicators, analyzing earnings (earnings calls are another great source of information for communicators by the way), and mergers and acquisitions. Or check out a book like Finance and Accounting for Nonfinancial Managers by William Droms and work through it at your own pace.

This isn’t to say you need to be a CPA to be an outstanding communicator but it also doesn’t hurt, especially when working with business leadership who are responsible for every number reported in that annual report. As with anything else, adding another strength to your creative communications toolbox is a good thing and these tools and resources can be helpful for anyone starting out learning more about finance.

What has your experience been working with finance departments or leadership? Is the relationship challenging or have you found tips to bring together the creative and concrete parts of your organization?

Kids Teaching the Workplace: Three Tips to Getting Along

Business Communications, Communications, Leadership, Life

It’s that time of year again where students of all ages head back to school.  From kindergarten to grad school, brilliant minds are being molded and shaped. So why are office dynamics still so challenging? Why is it that seemingly grown adults still get caught in “I don’t like so and so from marketing, they just have it out for me.”

I wish I had the one solution…I’d be an instant “business guru” making $50k a day on the corporate speaking circuit. (*Note here- I may not be a guru but if you like this post, I’m significantly cheaper that the $50k crowd. Call me.)  Thus, like any good communications professional, I went to my best source.  I asked my wonderful, brilliant daughter to share how people should work to get along.  Her points are brilliantly simple and truly do remind me of the principle of All I Really Need to Know I Learned in Kindergarten.  Really, after years of study we should all know this but here goes.

1) We get along because we’re one class.  We’re a team.

An honest point and realistic understanding that, unless you’re the CEO, you aren’t going to have the ability to build your team *exactly* as you might like.  Fact is you’re always going to have different personalities, styles, and talents on any team.  It’s not always fun to work with, or for, people who you may not love but the sooner you can accept that life isn’t always a bed of roses the better.  You’ve got your team, the key is to best fit in and make the team better in any way you can.

2) If we disagree, we still get along.

Really? Kids at five and six get this, why don’t we?  Disagreement happens and in the grown-up world it can actually be a good thing.  In my experience, if you never disagree it means that you’re probably not trying hard enough and thinking about ideas that will really make a difference.

There are ways to disagree professionally.  It shouldn’t be a personal issue when someone questions an idea or a particular effort.  Give feedback that will move you toward the ultimate good of the company and accept feedback or questions that do the same.

3)  If we have problems, we talk to the person first.  Then you go to a teacher after you try to work it out.

Seriously, if everyone did this there’d be so much less drama at the office.  It is so much more effective to go to “Bob” in accounting if you’re having an issue than complaining to your boss about Bob. Nobody (CEO’s, Presidents, Exec Directors) likes a crybaby.  If you haven’t even made an effort to professionally resolve a potential issue with a colleague before raising the issue with your boss and making it a high corporate priority you very much risk damaging your own reputation as much or more than that of the person you’re discussing.  Obviously there will be times in your career when higher-level intervention is needed and there are cases when a co-worker is seriously inappropriate and in need of an attitude adjustment.  Just be sure you’ve done all you can reasonably can do to solve the issue directly first before pointing fingers.

I had a blast hearing how simple this all seems to a child.  What else have you learned and what other tips do you have to avoid needless office headaches?