The Criticality of Crisis Comms in a Turnaround

Michael Fingland

Executive Director and CEO

Crisis communications is an essential aspect of any business turnaround situation. In a turnaround scenario, the company is likely facing significant challenges, such as financial difficulties, operational issues, or a damaged reputation. Effective communication during these difficult times is critical to maintaining stakeholder confidence, managing public perception, and ultimately, securing the company’s survival.

Crisis communication involves a structured approach to managing and disseminating information during a crisis. It aims to provide timely, accurate, and transparent information to all stakeholders, including employees, customers, suppliers, investors, and the public. A well-executed crisis communication strategy can help restore trust and confidence in the company, mitigate potential legal and reputational risks, and maintain or improve the company’s overall image and reputation.

In a business turnaround situation, effective crisis communication requires a deep understanding of the issues at hand, the company’s stakeholders, and the broader business environment. Communication must be honest, transparent, and consistent across all channels, including traditional media, social media, and internal communication channels. Moreover, communication must be ongoing and adaptable, as the situation may evolve rapidly and require real-time updates and adjustments to messaging.

In conclusion, crisis communication is critical in a business turnaround situation to manage stakeholder expectations, maintain trust and confidence, mitigate risks, and secure the company’s survival. A well-executed crisis communication strategy is an essential component of any successful turnaround plan.

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