It’s been said that the one constant in life is change.
As a firm based in Houston, the energy capital of the United States, we’ve seen a lot of change in our city lately. According to Graves & Company, a Houston consulting firm, ever since crude oil prices began dropping last year, energy companies have announced plans to lay off more than 122,000 workers around the world.
It’s easy to be a spectator. From an armchair perspective, we can clearly see what’s happening and second-guess the calls being made. At ground level, it’s not so easy though, which is why many companies can make mistakes when they fail to see what’s happening in front of them during bad times. In a time of crisis, it is critical for businesses to be aware of how circumstances will affect the company as an organization, as well as those individuals directly involved.
Unfortunately, for every company there comes a time when you have to break bad news. Breaking bad news to stakeholders is never pleasant. But communicating in the wrong way can make things even worse. Therefore, it’s important to know the best practices for successfully breaking bad news.
Quarterly earnings conference calls are an important communications tool to reach analysts, investors, reporters and others who follow your company. Although publicly traded companies are not required to conduct these calls, most do. For good reasons. Among them – the calls help analysts develop more accurate earnings expectations.
When the economy starts to experience a downturn, investors start to feel uneasy. It is your job to reassure your investors that you and your team will be able to withstand this economic environment and set a course for success in the future. Here are three things they need to hear from you.