Managing Corporate Reputation in an Election Year
Insights for navigating partisanship in the U.S. beyond the Beltway.
This year, at least 64 countries as well as the European Union (EU) will hold national elections, representing nearly half the global population. [1]Stakeholders around the world are preparing for what is poised to be the biggest election year in history. In the United States, our communications experts expect the greatest levels of political and corporate activity to take place outside the Beltway.
As the Republican and Democratic National Conventions make their way to Milwaukee and Chicago, respectively, this summer, the Midwest will garner outsized attention. More than 15,000 members of the media will travel to the region,[2] presenting an appealing scenario for organizations willing to strategically engage in the discourse regarding the election and major policy issues facing individuals and families across the country. And while the U.S. has seen a marked decrease in “swing” states in recent presidential elections, multiple Midwest states, including Michigan and Wisconsin,[3] will likely play a pivotal role in deciding the outcome of the presidency and the balance of power in Congress.
The heightened political activity is an important consideration as companies across the U.S. navigate and make critical business decisions this year. It can offer direction on how to prioritize and focus your efforts – it can also present a great risk.
So, in this divisive cycle, how should a company think about communications? How can an organization thoughtfully engage and manage its reputation inside and outside the beltway? Here are four key considerations to guide your thinking.
Formulate a Data-Driven Strategy
While the candidate landscape may be clear, the polarizing political discourse presents a formidable challenge: what, how, when and, perhaps most importantly, why should organizations engage in and take a stand on today’s issues?
Data and insights should underpin decision making – particularly when the risks and impacts can be significant. Before the communications team puts forth any external or internal positioning, it is imperative they do their diligence and embark on a strategic planning process to hedge against risk or seize on a point of differentiation.
- Identify and Map Perspectives: Communicators should first gather and reasonably consider the perspectives of their priority internal and external stakeholders and audiences. Targeted polling and active listening can deliver insights into the perceptions, attitudes, beliefs and behaviors around hot button issues, your organization, and even information consumption. In today’s day and age, a sustained clash of values is the new norm, and through this analysis, you may find a high degree of variance among stakeholders. The key is to prioritize and find commonality.
- Find Alignment Between Organizational and Stakeholder Priorities: Evaluating stakeholder perspectives and desires should also be done against the business strategy, as well as your values and purpose. Finding the areas of alignment – and vulnerabilities – across these dimensions will move you closer to effectively determining focus and will serve as the baseline for strategic and tactical planning.
- Determine Reputational Risk and Topic Prioritization: Organizations need to both promote and protect their reputation in the right ways, and each lens is equally important and necessary to define. The items to promote should be the topic areas that drive value for your business and stakeholders; the areas to protect are the topics that pose tangible or intangible enterprise risk.
Devise a Clear Plan and Stay Focused
In the time between now and the general election, companies must be deliberate in their corporate positioning. We can predict certain issues will rise to the surface at the regional and national level – jobs and the economy, public safety, healthcare access and affordability, to name a few – and it is important to know how and when your company has a role to meaningfully participate and elevate the good work of your organization.
Taking a nod from the crisis preparedness playbook, we recommend undergoing a scenario planning exercise that can be memorialized in a communications plan. This plan would reflect the issues, topics and situations that may rise to the surface and where you should be proactive and reactive. For example, if a candidate hosts a large-scale event in proximity to your headquarters or local operations, you will need to be prepared, or if a candidate or a surrogate takes direct aim at your organization, understand where you are most vulnerable. Planning and knowing how to respond (messages, channels, spokespeople, etc.) will not only minimize potential reputational harm but also allow you to quickly take control of the narrative. An important note in this process: anything said externally should also resonate internally in the programs and culture you’ve fostered so it feels authentic and aligned.
Optimize Stakeholder Engagement
As the election cycle unfolds, companies must use it as a time to optimize their stakeholder engagement in order to exchange perspectives and reaffirm values, priorities and stability, as appropriate. These actions could include:
- Hold Dialogue Sessions: Actively listening and facilitating meaningful conversations with all stakeholders, especially employees, can offer valuable insights and allow companies to address immediate concerns while aligning with expectations. And for companies in heavily regulated industries, demonstrating a clear vision for the future and strategic direction that prioritizes business continuity can help to alleviate stakeholder concerns by instilling confidence that the company is poised for success irrespective of electoral outcomes.
- Encourage Civic Engagement: Political momentum surrounding elections can often catalyze civic engagement,[4] which companies can leverage. Companies can amplify this momentum by promoting and facilitating voter registration and supporting employees’ voter participation during early voting periods and on election day. This can be achieved through non-partisan education and information sessions with your local election board, timely reminders of local voter registration deadlines and voting/policy procedures, and even establishing company policies that allow employees to take time off to vote.
Double Down on Your Corporate Story and Corporate Values
The heart of your organization lies in its purpose, values and corporate story, and that should be the red thread across what you say and the beacon to support decisions. While it’s helpful to capitalize on the election year’s momentum behind relevant policy discussions, your messages must remain consistent and authentic to your business. Corporate messages should use specific proof points – not punditry – to validate the position and its legitimacy.
Even with the best messaging, given the high stakes of an election year, companies should expect diverse reactions to their public engagement strategies from both internal and external voices. Relying on your corporate values to navigate these moments and inform your next steps will help protect against threats to your reputation.
Our Takeaway
2024 will be a historically consequential election year for many countries and regions around the world. In the U.S., if your company is feeling political pressure today, it will only intensify as we near election day this November.
Instead of placing your company in the crosshairs, facilitate state and local discussions that authentically speak to the policies and issues directly impacting your business, customers, community, and employees. This can be effective in cutting through the vitriol while remaining authentic to your organization’s roots, mission, and stakeholder priorities.
At FTI Consulting, we have helped companies of varying sizes and industries engage deliberately or on the periphery during political campaigns. We’ve supported companies that have hosted federal government officials – attracting a high level of national media attention – and we’ve helped companies respond to unwanted attention from candidates or political parties at the federal, state, and local levels.
Our established Corporate Reputation and Public Affairs practices, and our robust 50-state field network are keeping a close watch on the 2024 campaign. This election season is not merely a time of political spectacle but a moment that invites innovative and opportunistic thinking. Contact us for a conversation on what this year’s election cycle means for your business.
[1] Koh Ewe, “The Ultimate Election Year: All the Elections Around the World in 2024,” Time (December 28, 2023), https://time.com/6550920/world-elections-2024/
[2] 2024 Democratic National Convention, https://www.demconvention.com/media
[3] Steff Chavez, “The six swing states that will decide the US presidential race,” Financial Times (March 5, 2024), https://www.ft.com/content/c605260b-8e35-455d-873d-d71717db922e
[4] Andrew Daniller and Hannah Gilberstatdt, “Key findings about voter engagement in the 2020 election,” Pew Research Center (December 14, 2020), https://www.pewresearch.org/short-reads/2020/12/14/key-findings-about-voter-engagement-in-the-2020-election/
| The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals. ©2024 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com |
