Financial Crisis Management

In any company or organization, a financial crisis is a potential risk to public relations and general public opinion. A lack of effective financial crisis management could mean the end of the company or years of attempting to recover from the tarnished reputation.

At Tucker/Hall, we can minimize fallout experienced by companies that face financial crises. As a crisis management firm, one of our main goals is to minimize the duration and reach of a crisis.

When you speak with a consultant at Tucker/Hall, the first action taken is to identify any signs of stress that are already showing. Identifying vulnerabilities will lead to either risk mitigation or the development of a recovery plan from the exposure of the financial crisis. Depending on the stage of the situation, we may be able to prevent it from entering the media or becoming public knowledge.

A financial crisis management plan will often encompass many scenarios. After speaking with your leadership team and gathering information, we will develop a plan for communicating during a potential or current financial crisis. This will include a communication plan for how the public should be addressed, and the information that will need to be disclosed. In addition, we will create a crisis management team trained to react to these situations properly.

When it comes to financial crisis management, it is especially important for company leadership to be able to focus on the bottom line. By bringing in a crisis management team from Tucker/Hall, you will have an experienced communications team in your corner. Proactively navigating a financial crisis can prevent further escalation and allow you to focus on the turnaround of your organization.

If you would like to learn more, or if you have any specific questions about the financial crisis management services offered by Tucker/Hall, contact Darren Richards at 813.228.0652 or via email at drichards@tuckerhall.com.

Have a Plan in Place

Tucker/Hall is uniquely qualified to help you establish a plan for managing a possible financial crisis. Your plan should address the chain of communication in a crisis situation, establish tasks and responsibilities for the crisis management team, and determine a process and an order of priorities for varying scenarios. The first step in dealing with a crisis situation is to be sure that all key parties are aware what happened, and they have all possible relevant information. Once all key participants, including crisis management team members are informed, you can begin to implement the plan.

Be Communicative and Upfront About Details

Whether or not you have a pre-established crisis management plan, it is vital to communicate honestly and openly. The public will be looking to you for information. If you don’t inform them about what’s happening, someone else will — which can lead to conflicting information and confusion. Communicating honestly and openly can help reduce the flow of misinformation and allow you to more effectively take steps to fix the issue at hand.

Continue Working to Solve the Problem

Regardless of the details in communicating to the public, the media and the team about the changing circumstances, it is imperative that the organization continues working towards improvement or solving of the problem. As you take these steps, keep your audiences informed and make sure they know what you’re doing, why, and what you hope to accomplish.

We at Tucker/Hall are professionals at navigating any and all crisis situations. Our firm has been in business for nearly 30 years.  We are highly qualified to address all scales of financial crises that may arise.

Please feel free to contact Darren Richards at 813.228.0652 or via email at drichards@tuckerhall.com to learn more about the services we offer and how take the first steps towards building a relationship with Tucker/Hall.