Crisis Communications report now available
IR Magazine has released a new report examining how attitudes toward and practices in crisis communications have changed since we last reported on this topic in 2012. The report investigates whether companies have formal crisis plans and how approaches to crisis communications have changed with the impact of the Covid-19 pandemic. The report also examines the impact of social media on handling a crisis.
This report is based on research from the Global IR Survey conducted in Q3 2021. Data in this report is broken down by geographical region and company market capitalization.
- More than three quarters of IROs who responded say their company has a formal crisis plan, an increase from when the question was last asked in 2012.
- Seven in 10 respondents say this plan has changed as a result of the Covid-19 pandemic.
- More than eight in 10 IROs say Covid-19 has made them more confident in dealing with a crisis, with just 2 percent saying it has made them less confident.
- The experience of Covid-19 is considered useful in dealing with all types of crises, with product/service issues the only crisis category where less than two thirds of respondents give a positive rating.
- Asian IROs generally give higher ratings than their European or North American counterparts for the utility of the Covid-19 pandemic experience in dealing with a potential crisis.
- IROs at smaller companies place more emphasis on the experience helping to deal with internal corporate issues, while those at larger companies focus on the utility of helping with wider topics, such as natural disasters and macroeconomic crises.
- Globally, 63 percent of IROs agree that social media puts increasing pressure on companies and makes it more difficult to manage a crisis, with just 12 percent disagreeing.
- Half of IROs say social media makes it easier to communicate with their audience and restore trust after a crisis.
- More than seven in 10 IROs believe communicating with all stakeholders instead of prioritizing shareholders becomes more important during a crisis.