Published On: Thu, Mar 17th, 2016

Guidelines for Managing Corporate Crises through Press Releases

Scandals in the corporate industry can be taxing to a company and the way a company chooses to handle the crisis determines if a company will be run down or if it will get back to its feet with a stronger image and sales. Press releases are influential in sending across the message about matters at hand and how you plan to handle them.

  1. Before the Press Release

The statement and speech read out should instill trust in existing and potential clients. This means that any corporate firm should have a strategic crisis preparedness plan to handle any situation.

The plans should cover financial, legal, administrative, operational and infrastructure crises. Great communication is key in a gaining trust lost through the scandal. The press release should communicate all this areas of business and even when the situation is dire, you will still gain back some or all clients.

You should also consider sending out a message to all shareholders through expressing your gratitude for their support and regrets for the current situation. An actionable promise of stability should be passed across. Transparency to shareholders, customers, investors and the board will keep them patient and they will give you a second chance or even a grace period.

  1. What to do at the Press Release

Talking about the issue at hand within the first few minutes is important. A press release should be called then all cards drawn and put on the table. The PANTCHEK communication technique used by top PR companies like Fineman PR is crucial in this early stage of the crisis. This acronym will guide you on how to calm the storm keeping off the media for a short while

  • Public welfare comes first and all matters affecting the public; shareholders, creditors and customers must be addressed first.
  • You thenassemble the facts and announce all the bad news once. This will let all parties know where they stand with your company.
  • Blame no one, make no speculations and don’t repeat negative questions.
  • Take responsibility or tell your side of the story.
  • Show care and for affected in a sincere manner.
  • Involve high level organization representatives to give the press statement.
  • Outline a plan that will ensure the crisis doesn’t happen ever again.
  • Always keep a separate plan for continuity of business.

These communication pointers, if followed diligently will lead your company to recovery.

  • After the Press Release

You have to show the world that you still have control over the current situation. Besides the speech by management on how things will continue running henceforth, the employees should be sensitized on tactics for handling impromptu interviews and how to make the business navigate the storm and win big.

Multiple press releases should then be sent out through electronic media. The sentiments and facts captured on the broadcasted press release should be replicated in a simple manner that will be understood easily by all.

The mosaic of multicultural communication is a great way to reach out to all concerned avoiding more legal suits filed.

Managing a crisis is dependent on good and trusted communication. If your internal PR department is unable to handle the situation, it would be advisable to seek professional advice from a reputable company like Fineman PR. This will keep you on top of things and back in business. Give a statement to the public as soon as possible, however late.