CCI or Corporate Communication International based in New York conducts extensive research and survey on Public Relations officials of Fortune 500 companies, every 2 years. In their recent CCI Corporate Communication Practices and Trends Study 2017, the organization has thrown insights into the present PR industry and global trends in this era of uncertainty.
As CCI highlights, “Speed of business as well as news cycle are two prominent trends this year.”
In this rapidly changing D, Public Relations professionals must be prepared to engage with and adapt to the digital-first environment. However, the experts have also warned against its speed. Although speed is essential, communicators must act decisively keeping corporate reputation in mind, as a mere overreaction or simple mistake can cost high to the concerned company.
CCI’s study further highlighted, while speed of news cycle has uncertainty, the norms of wading into controversial issues are also less certain.
Once Milton Friedman, the famous Economist said, “Corporate organization’s sole responsibility is to make money; they don’t have any social responsibility.”
Standing in 2018, the scenario has massively changed and corporations are under immense pressure to opine on politically charged issues. Companies must be able to evaluate a situation quickly and make decisions, often before knowing all the facts.
Internal communications is another global PR trend which has increased among Fortune 500 companies recently. The leading officials of corporate communications explained the importance of bringing every individual on single page; which can again be difficult when an organization has 20,000 employees.
Here’s what a veteran PR professional explained, “Today, an employee (being the internal public) of an organization can directly communicate with many external stakeholders almost instantly, courtesy social media. Therefore, every company must take initiative to control its narrative.”
Employees of a company should also recognize corporate brand values and understand how to translate those outside keeping reputation in mind as they are the foremost brand ambassadors.
According to CCI’s reports, 80% of the companies presently have social media policy for every employee as a part of their PR strategy.
The study has further revealed turf battles among the communication heads of a company. With overlapping responsibilities of marketing and corporate communications, CCO and CMOs are most of the time knocking for influence within the organization.
In this context, experts have explained that corporate reputation today has a bigger role to play in the success of an organization. Therefore, CCOs should work as a counsel to CEO as well as a strategic business resource.
New York based CCI’s study concluded that Public Relations and Communications experts must have a proper understanding of business to thrive. Today, the media department is not only about press releases, but it is also about data analysis and globalization as PR in the present day is a strategic business function.