Be it start-ups or well established, profit making, long time companies, all businesses have to cover the costs of running the show. While in the past years businesses did not really feel it was necessary to invest in public relations and crisis communication training, today it is not only in vogue but in fact quite essential so as to save the company from losing profits, or going into heavy debt in case a crisis does arise.
If a company invests their time and resources into a superbly prepared crisis communication plan, it can effectively prevent a PR disaster, thus saving the company from losing its hard earned name and reputation.
A crisis communications plan in this case, becomes a small investment to wade off a disaster that may be waiting it happen. One cannot perceive when a crisis will occur, thus staying prepared for such a situation is the smart way to go. Here are a few reasons why companies should invest in crisis communication training –
A number of companies till date may not have experienced a crisis situation. They may be quite established and running the field for a great many years. But this does not means that a crisis will not occur. With the constantly changing political, socials and economic scenario, a crisis is inevitable. It may also occur because of a natural disaster, which definitely cannot be expected. No business or corporate house can claim itself immune to crisis, therefore planning a strategy and training for a crisis is definitely the right thing to do!
In case of a crisis the company can definitely end up losing quite a bit of money, especially if it is not prepared to deal with a crisis situation. For instance in 2015, Chipotle’s share price came down to a great extent during the time of the E. coli outbreak. This gravely affected the stocks of the company, and it took a considerable time, energy and money for the company to recover as it was not prepared for this crisis.
Crisis communication training will definitely help save money, as a well-established pre-prepared plan will prove to be quite pocket friendly during the time of a crisis.
When a company is not prepared to handle a crisis or a problem, it may just make the situation worse. During a crisis a company generally attracts a lot of media attention. At this time, a single miss worded press release or comment can cause big problems.