Communication in Times of Crisis

Die Bank, September 2009
By Dr. Thorsten Hofmann

The quality of public relations has an essential impact on the reputation of a bank. Especially in times of crisis comprehensive and elaborate communication strategies are crucial in order to avoid sustainable damage of trust and reputation. Professional issue-management and permanent monitoring of all relevant crisis issues are core parts of such a strategy.
Nevertheless crises may occur. Then it is important to react quickly and stick to clear and transparent communication rules. A crisis manual containing essential rules (policies) and practical support instruments helps to manage the crisis successfully. Psychology also plays an important role here. Fears of staff members and clients have to be considered seriously, the management level has to demonstrate optimism and strong leadership. Communication towards internal as well as external target groups has to be comprehensive, stringent and transparent.
 

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