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Employee communications: A hot currency for 2010? | Blog by Stuart Maister
Monday January 18th 10
After a great lunch with a group of employee communications professionals at the Bank of England we were given a tour which ended at the Bank's Museum. When I saw an old half a crown there it made me realize how much money has shrunk since my childhood.
For those younger than me (sadly now an increasing number) half a crown was 2 shillings and sixpence and would now be worth 12 ½p. That’s a pathetic amount of money now, but it seemed a lot to me back in 1971 (ouch) when decimal currency came in. More interestingly, the actual coin was really really big – it seemed huge compared to modern ones.
I got the impression that the shrinkage of money was an apt metaphor for some of the experiences of those in the discussion. Budgets had gone the way of British coinage over the past year, despite it being a year of enormous change, often big decisions and a lot of news to communicate. But budgets were slashed as companies fought simply to stay in business.
My experience of discussions with marketing leaders is that 2010 looks very different. There, the outlook is as bright as a shiny new pound coin (love the new modern designs). Companies are investing in customers as they sense there are growth opportunities. But not necessarily in employees.
If our discussion at the Bank was anything to go by, employee communications this year will be about tightly controlled costs and a ‘steady as she goes’ mentality. The big decisions are so 2009; now it’s about managing well with the staff and resources we have. I suspect that in some organizations there is an sense that, in a recession, employee loyalty is not such a big question and staff are highly motivated just to keep their job. Therefore it’s about improving the execution of the business rather than getting people excited.
Our discussion was very tactical: top tips for what is working well with companies looking for ideas about channel development. I got a strong sense that there is a real focus on the nitty gritty of employee communications, although an awareness that employees need lifting and, in some cases, need to have their trust in management rebuilt.
On that score one of those present had clear advice. It’s a long journey. There are no gimmicks. Their experience was that it is about consistent messages put into practice over a number of years, supported by amplification of those messages, until everyone gets it and believes it. At the heart of effective employee communications is integrity, openness and honesty from the top, and a genuine telling of the real story.
Hey, that’s true of any communications. You can only spin for so long. It’s a bit like the currency. Unless it’s backed by a solid economy, real reserves and a believable story about the country, the paper becomes devalued.
There was evidence in the room that in those companies where there has been real openness and honesty, the currency of company communications is still sought after and valued. In those where there has not, the value attached to internal communications by employees has crashed faster than sterling.
One of the things you can do in the Bank of England Museum is try to lift up a genuine gold bar. It’s very heavy. But if you lift it, you’re carrying a lot of value in your hands. Engaging employees in 2010 may require some heavy lifting in 2010 – but it will be worth a lot.
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