7 key reminders for delivering bad economic news
How PR departments and executives communicate bad news is extremely important, especially as economic storm clouds gather around U.S. and Europe.
In America, for example, the monthly jobs report for May suggested a slowdown in the nation’s hiring, although the Obama administration tried to highlight the few bright spots in the report.
Meanwhile, in the U.K., Marks & Spencer CEO Marc Bolland announced last week that the retail giant saw a drop in full-year profit. The CEO, whose company is considered a bellwether in Great Britain, offered some good news: sales, including food, were up, and there was some cheering news in menswear. M&S was, he said, “performing well in a challenging environment.”
As Bolland demonstrated, it is crucial to keep a check on your demeanor when delivering the news. If you appear under pressure and under threat, you will leave an unhealthy impression of your business, no matter how much you focus on the positives.
So, what should companies do to release bad news in a way that can soften the negative impact? Here are seven top recommendations to remember:
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