The more business leaders recognize the potential for crisis, the more likely they are to take steps to prepare for and respond to it.
The results of a new study could help them do just that.
edelmans 2022 Connected Crisis: Seeking stability in chaos is a dispassionate portrayal of events and issues that corporate executives fear could pose a crisis to their brands and companies.
CEOs and chief marketing officers are most concerned about:
- 88% are concerned about the impact of labor-related issues (talent shortages, leadership turnover, high employee turnover, trade union activity, employee activity, employee strikes, labor-related issues).
cyber security issues
- 83% worry about the impact of cybersecurity and cybercrime issues (cybercrime and cybersecurity, online, social media or digital attacks, viral negative social media conversations).
supply chain issues
- 78% worry about the impact of supply chain issues or disruptions (supply chain issues or disruptions, product failures or quality issues)
Impact of Activism
- 76% are concerned about the impact of activism (shareholder activism, corporate activism, consumer activism)
The issue of diversity and inclusion
- 76% are concerned about the impact of diversity and inclusion-related issues (issues related to diversity and inclusion, gender equality and pay equity).
Effects of fake news
- 63% are concerned about the impact of fake news, misinformation and disinformation
The survey was conducted between August 15, 2022 and September 2, 2022, Edelman said. Data collected for the general population represent age, gender, and region within each market. Statistical significance was tested at the 95% confidence level.
“Given all that executives face, it’s no surprise that crisis management is the fastest growing area of responsibility for Chief Communications Officers (CCOs) and Chief Marketing Officers (CMOs). .” Dave Fleet Edelman’s Managing Director and Head of Global Digital Crisis wrote: PR Daily.
“Unfortunately, our data shows that despite this increased focus, businesses are still navigating today’s problem landscape, responding to a growing number of stakeholder groups, and responding to crises. It shows that you are not ready to defend your trust.
“The nature of these crises continues to change.”
“Crisis management is the fastest growing area of responsibility for CCOs and CMOs. Crisis is an ever-present part of today’s business environment,” said Edelman’s report on the study.
“The nature of these crises continues to change, occupying more stakeholders and throwing businesses out of balance. Executives say their teams do not have the right skill sets to navigate this situation. said,” the report notes.
A survey of top executives and marketing executives also found:
- Stakeholders increasingly expect immediate action on issues and crises (72%)
- Recent consumer demands for ‘ultra-transparency’ are impacting how businesses respond to the crisis (67%)
- Staff do not have the right skill sets to manage the range of issues and crises the company may face (60%)
“Crisis management is no longer just the domain of corporate communicators. In today’s climate, the entire business must be dedicated to creating a culture of resilience.” Hugh TaggartEdelman’s Global Crisis Chair observed in a company report on the investigation.