How to Communicate in a Financial Crisis - Forside · How to Communicate in a Financial Crisis ......

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Communications or Chaos

How to Communicate

in a Financial Crisis

Philip Vanhoutte, Managing Director

Plantronics/Altec Lansing EMEA

Copenhagen, 18 March 2009

2Unified Communications The Evolution to Unified Communications – The Collaboration of Business and IT 12 March, 2009

Agenda

How to survive/make the most of economic downturn

How to survive/make the most of a company crisis

How’s Plantronics/Altec Lansing coping/leveraging the crisis

Happy New-Year 2009

• Cost Reduction Targets

• Layoffs

• Stay Profitable

• Grab Market Share

4Plantronics, Inc. Secret

Who’s riding the storm

SME’s with mobile workforces

SME’s older/more experienced captains

SME’s with worst case scenario in place

SME’s leveraging people, IT & Telecoms and Marketing

SME’s with a woman at the top

Top 10 Critical Business Priorities

Provide Excellent Customer Service

Innovate in product and Services

Leverage your Talent

Maintain Quality

Reduce Debt and Manage Cashflow

Top 10 Critical Business Priorities (cont)

Respond to market quickly

(Re-) Prioritize marketing

Forecast accurately & Plan Realistically

Know your market

Invest in Technologies to help your people

Recession - Executive Priorities

1. Stay Calm

2.CASH is King

3.Get spending within your means

4.Reduce borrowings

5.Focus on execution of strategy

6.Recessions ends

Recession – Management Agenda

Produce forward Profit/Loss scenario’s

Reset cost structure to (nearly) worst case Quarter

Protect and wisely develop business

Retain key players in critical roles and nurture top talent

Reduction in (work) Force

Identify Critical Positions in Healthy Divisions

Leadership and individual contributors

Point out (High Potential) Talent

Set appropriate benchmarks

direct (sales, operations, service): linear with demand

Staff (marketing, HR, Finance): stick with (overhead) ratios

Dare to cut management layer/structure

Appreciate (vastly different) country legal/social practices

Large Account Development

Acquisition ???

Development ~~~

Retention !!!

Taming Marketing Spend

Weed out PMC’s (Product-Market combinations)

– Let go on loss making products/categories

– Revisit chronically unprofitable customers

Demand Generation Campaigns

– Only when positive ROI (margin basis)

Respin existing Creative

Taming Marketing Spend (cont.)

Switch to Digital Marketing --- NOW

Preserve core Public Relations capability

Rationalize Suppliers

Increase Internal Communications (frequency, content)

Agenda

15Plantronics, Inc. Presentation Title / Presentation Subtitle Month 00, 2008

What is a crisis ?

An unstable or critical time or state of affairs

in which a decisive change is pending

an attack of pain, distress, or disordered function.

- Webster

8 Characterisics of a Crisis

Surprise that is always driven by media exposure.

Insufficient Information about the relevant facts and the emerging public perception of the issue.

Escalating Flow of Events that hampers the ability of management to understand quickly that, like it or not, they "own" the problem and must quickly articulate a persuasive response

Loss of Control over the way the growing crisis is perceived & the impact on the company

Intense Scrutiny from Outsiders/Insiders including media, government, regulatory agencies, activist groups, key stakeholders, and most importantly, the management team itself.

The Beginning of the Siege Mentality that causes company leadership to attempt to "hide" behind the legal aspects of the crisis, rather than confront the central issues, thereby causing more damage

Panic that perverts and/or paralyzes the decision-making process.

Issue Solved by Public Arena in a manner designed to satisfy the interests of outsiders—including the media, government, regulatory agencies and activist groups—but never the interests of the company

Planning – Get Prepared

Calls upon Stakeholders

Professionalizes Flow of Information

Reduces Stress – Stay Calm

Demonstrates Goodwill & Trust

Underpins Business Continuity

1- A list of the members of the crisis management team

2 - Contact information for key officers,

spokespeople, and crisis management team members

3 - Fact sheets on the company, each division,

each physical location, and each product offered.

4 -Profiles and biographies for each key manager in your company

Credit: Don Crowther at http://www.globalprblogweek.com/archives/7_musthave_elements_.php

Must Haves in Crisis Communication Kit

5 - Copies of your company, division and product logos,

your press release format and the scanned

in signature of your CEO on disk

6 - Pre-written scripts answering key questions that you have generated through your crisis scenario analysis

7 -Contact information for each of your key media contacts both locally, nationally, and if appropriate, key financial press andanalysts.

Credit: Don Crowther at http://www.globalprblogweek.com/archives/7_musthave_elements_.php

Walk on the Opportunity side

Crisis is a unique moment

to influence and take the lead

Influence is the product of K

Expertise & knowledge

Enthusiasm

Relationship & communication

Trust Principles

13 Trust Behaviours

1. Talk Straight

2. Demonstrate Respect

3. Create Transparency

4. Right Wrongs

5. Show Loyalty

6. Deliver Results

7. Get Better

8. Confront Reality

9. Clarify Expectations

10.Practice Accountability

11.Listen First

12.Keep Commitments

13.Extend Trust

Establish Trust(audience’s perception of

your competence/honesty)

Develop compelling position and give rational informationExperience, facts, figures, proofs. ex: case studies - statistics - process

Create empathy(mindset mirroring/body language)

be personal & authentic

Commit on

tangible, achievable, short term

measures/outcomes

Then enlarge the scope

Virtuous Trust Cycle

Develop/Articulate a compelling Position

• What is the core idea I wish to communicate ?

• What evidence do i have to support my position ?

• How can I order evidence to be the most compelling ?

• What examples, stories and analogies can i use ?

• What graphs or visuals can I use ?

• What memorable event can I create ?

• What are the objections ?

The Athlete Toolkit

ALWAYS teamed up with Dell Latitude, Outlook, OCS

Primary Comms kit iPhone + Encore PRO

Backup Comms Kit Discovery 925 + HTC730

Conferencing Calls w colleagues Soundblade

Agenda

Plantronics Confidential

Early October K clouds gathering

What is Plantronics doing

to Live & Leverage

Economic Recession

31Plantronics, Inc.

local global @ CeBIT 2009:

Creativity and Internationalization

as Antidepressant for Global Crisis

CeBIT 2009 Press Briefing

From Surviving to Thriving

33Plantronics, Inc.

Consumers 9 months in recession-mode

56% cut on out-of-home entertainment

67% cut back on gas/electricity

55% spend less on clothes

54% use cars less often

34Plantronics, Inc.

Cautious Optimism after the darkest winter

35Plantronics, Inc.

2009 Trend Forecast

1. Legacy: Making a Mark

2. Fantasy as Fuel

3. Art: Unleashing the Creative Spirit

4. Home as Heavenly Haven

5. Science: Expansion & Discovery

6. Optimism & Vitality: from 2D to 3D

7. Culture of Mobility

8. Authenticity

9. Fun Frugality

36Plantronics, Inc.

2009 Trend Forecast - CONSUMER

1. Legacy: Making a Mark

2. Fantasy as Fuel

8. Authenticity

9. Fun Frugality

37Plantronics, Inc.

HEADSETS

SPEAKERS

HOMEMOBILE

Leaders in ALL Product Categories

.Audio 995BackBeat

903/906

inMotion

Expressionist BASS

Gamecom 777

38Plantronics, Inc.

2009 Trend Forecast - BUSINESS

1. Legacy: Making a Mark – SMARTER WORKING

2. Fantasy as Fuel

8. Authenticity

9. Fun Frugality

Who’s riding the storm

Those with

mobile workforces

older/more experienced captains

worst case scenario in place

woman at the top

That have relentless focus on

Customer Service Excellence

Incremental innovation in Products & Services

leveraging people, IT & Telecoms and Marketing

Customer Intimacy Study

Western Europe

February 2009

Customer Intimacy Study - Profile

Customers

both consumers and businesses

2000 interviewed

Sales/Customer Service

Traditional field / ‘on the road’

Also inside office

NOT contact centers

850 interviewed

UK, Germany, Netherlands, France, Spain

Do headsets make a difference beyond Contact Centers ?

Professional Headset with high iF

iF = intimacy Factor

Smart(er) Workingno longer a luxury in economic crisis

Series of Western Europe Studies

UK, Netherlands, Germany, France (in progress)

Autumn/Winter 2008-2009More than HALF

Of Employers AND

Employees are READY

44Plantronics, Inc. MWC 2009

21st Century Work Space – Just 5 IngredientsNotebook, Smartphone, Headset/Speakerphone

Wireless Broadband, Unified Collaboration & Communications

Flexible workingK

Strategies for more flexible workforces can provide positive solutions to today’s

challenges inclusive TANGIBLE COST SAVINGS

Property rationalisation

Substantially reduced absence

Productivity (more smarter hours)

Less time wasted travelling to office

Employee satisfaction

Customer satisfaction

Wellbeing

Recruitment and retention

Reduced Carbon Footprint

Business continuity (reduces risks)

Corporate and social responsibility

Work Space for Humans

• Many productive behaviours NOT at desk, 9-5

• Need diverse environments and moments

– Place as an ‘anchor’

– Secluded Space for mental isolation

– Inspiring places for mental stimulation

– A place to bring people together

– Office Style as a blueprint for corporate behaviour

– Change of Scene to manage energy & state of mind

Source: VITRA Research, November 2008

The New Work Foundations

Talent

Unified

Communications & Collaboration

What is Unified Communications?

Integration of real-time and messaging communications

Centered around Identity and Presence

Unify WHAT ?

EMailEMailVoicemailStore/Forward

YouTubeMMS

Flickr

Instant

Asynch

Messaging

Video Call

Personal

Conference

Analog Phone

Mobile Phone

PC/Internet Phone

Real-Time

Dialogue

VideoImageData/

ONE People List/Database

with ALL contact details

And his/her Availility

Unified Communications

Savi Office Features and Benefits

Connects to both the desk phone and PC

Improves quality of work, communications and decision

making

Easily mix and switch calls

Provides effective and efficient

collaboration

Plantronics SaviTM GoPlantronics SaviTM Go

Freedom – Wireless headsets offer flexibility and

mobility when you adopt Unified Communications

Wireless headset and dongle solution

for in office mobile professionals

needing to connect to both their

mobile device and PC

Smarter Working = a MUST

• UC is working and beneficial

• Work @same Desk in same office = unnatural

• Mobile Working = the NORM

• Economic Crisis will dictate fast adoption

• Trusted Work & Management = essential

• Days of hardphones are counted

• Headsets are essential for Virtual Work

Communications or Chaos

How to Live and Leverage

in a Economic Recession

Copenhagen, 18 March 2009

How to Communicate in a Financial Crisis - Forside · How to Communicate in a Financial Crisis ......

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