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CCI Practices and Trends Study 2015

A 2015 research study on the practices and trends of corporate communication in the United States.

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Transcript of CCI Practices and Trends Study 2015

Final Report
6. Integrity, trust, and comprehensive understanding of the business and its constituencies are among the main factors for successful reputation management

7. Political, financial, technological uncertainty drives sharp focus on business imperatives and has led to running corporate communication like a never-ending political campaign

8. The Citizens United and Dodd/Frank U.S. Supreme Court decisions have required greater transparency and disclosure efforts in reporting, more internal coordination with other corporate officers, and greater efforts to communicate the company position with investors and other audiences

9. Corporate Communication departments use agencies and other service providers for advertising (corporate brand and product or service), the annual report, crisis and emergency communication, internet communication, media relations, public relations, and social media. Most have a procurement policy and pre-approved list for such engagements. The budget for almost half of the companies is over $1,000,000

10. Top Corporate Communication officers are: middle-aged, paid very well, better educated
Key Finding #2
Staff and Budget Changes
Staff Changes
Budget Cuts to Reduce Costs
Budget Changes
Role of Corporate Communications in Companies
Key Finding #6
Integrity, trust and understanding of the business are among the main success factors for reputation management
YES!
Demographics of Corporate Communication Executives
Selected Responses to Interview Questions
Thanks
Key Finding #1
Transformation of the discipline continues
Industry Sectors
Market Capitalization for 2015
Number of Employees
The 2015 Study
in Brief


Corporate Communication Practices Study 2015
Focus of the Briefing...
Survey-based research collaboration between


Endorsed by: Arthur W. Page Society; Association for Business Communication (ABC); the PR Council; the PRSA Foundation
Preliminary examination of the state of corporate communication practices among publicly traded US-based corporations
Preliminary insights from the 2015 Study
Preliminary corporate communication function
& budget responsibilities

Key Findings
1. Transformation of the discipline continues with emphasis on internal (employee engagement, corporate culture, the Intranet) & external (media and reputation) communication functions

2. More robust budgets & steady staff increases reflect an increased need for corporate communication

3. The transformation of the profession has placed renewed emphasis on building positive corporate culture and employee engagement in response to uncertain global economic conditions, changing business and media models, “big data,” and the networked enterprise

4. Diversity and minority representation among the top corporate communication professionals indicates greater female representation, with small strides within other groups

5. Communication executives continue to see their primary role as “manager of the company’s reputation” and “counsel to the CEO”
CCI Corporate Communication International and The Conference Board collaborate in a study of Corporate Communication Practices
The collaboration builds on the CCI – Corporate Communication International Practices and Trends Studies conducted from 2000 – 2013
The goal of each of the CCI studies was to outline and analyze the state of the art for corporate communication practice in publicly-traded, multinational companies
Methods of the Study
Survey sent to the chief communication officer of companies in the Dow 30, the Fortune 500, the S&P 500, and the Russell 1000 (January 2015)
Second phase of the study used interviews to gather qualitative information
Data collection and analysis in compliance with the regulations from the 1975 US Federal Register (45 CFR Part 46) that create an Institutional Review Board (IRB)

Annual Revenue for 2015
Corporations in the sample
EMPHASIS ON:
Internal communication functions (employee communication, corporate culture, the Intranet)
External communication functions (media and reputation)

Executive communication
Crisis and emergency communication
Employee (internal) communication
Communication strategy
Communication policy
Media relations
Public relations
Reputation management
Intranet communication
OPPORTUNITY:
Empowering both
employees and customers
Key Functions define core practices 2015
More robust budgets & steady staff increases reflect an increased need for corporate communication
More robust budgets (no change 38.6% or increased 36.4%) reflect the increased need for corporate communication;
Steady staff increases (no change 37.8% or increase of 44.5%) reflect a new confidence to hire communication professionals;.


Even with additional resources, corporate communicators continue to accomplish even more with less; complexity demands identifying priority communication actions

Key Finding #3
Renewed emphasis placed on positive corporate culture and employee engagement
Renewed emphasis is in response to global economic conditions, changing business and media models, “big data,” and the networked enterprise
TREND:
Executives “communicate more, but carefully.” Polling, qualitative listening, messaging and rapid response
Acknowledging the employees’ essential role in the networked enterprise, internal focus continues to drive the need to boost employee morale
OPPORTUNITY:
Position for a global
economic recovery, and protracted
global economic weakness

Key Insight #4
Greater female representation among the top corporate communication professionals
Key Finding #5
Communication executives continue to see their
primary role as “counsel to the CEO” & “manager of the company’s reputation”

TREND:
Strategic communication counsel has been cited as the primary role for corporate communication officers since the first CCI Study more than a decade ago.

Reputation management has cooled in importance and in budget allocation as employee engagement takes on a higher priority

OPPORTUNITY:
The corporation’s culture
and its employees as corporate ambassadors

to external audiences becomes an
important element in reputation management

The survey provided a list of thirteen descriptive phrases and asked the respondents to
rank
order them as the best description of their communication department.
“Have ongoing insight on what different stakeholders believe about you, having knowledge of the levers that drive and influence their perceptions of you.”

“Obviously, a clear understanding of your culture, and your purpose. A reputation isn't made by communicators. A reputation is made by [your] people. A reputation is the sum of all perceptions that people have of your organization. Our role is to help build a strong culture, to help align our values with broadly held social values.”
Key Finding #7
Political, financial, technological uncertainty drives sharp focus on business imperatives
TREND:
This has led to running corporate communication like a never-ending political campaign
The speed and complexity of information exchange and communication makes transparency and engagement more effective strategies than command and control
OPPORTUNITY:
Post-email world offers a strategy to move beyond a third party to engage internal and external audiences directly
Key Finding #8

"These rulings have created a greater need to coordinate with other corporate officers so that the required reports can be more transparent to investors, regulators, and other audiences."
The Citizens United and Dodd/Frank U.S. Supreme Court decisions have required greater transparency and disclosure

TREND:
OPPORTUNITY:
Use employees, executives
and customers to build
a strong corporate culture
Key Finding #9

Use of service providers for activities such as Advertising, Anual Report or Crisis and Emergency Communication, among others;
TREND:
Service providers used mainly to help with critical functions such as PR, Media Relations, Advertising, Annual Report, Crisis and Emergency Communication
Key Finding #10
Top Corporate Communication officers are:
Middle-aged, between 45-59 years old (71%)
Younger; fewer baby boomers (15.5%)
Paid comparatively well; more than three quarters reported an annual base salary between $100,000 and $300,000
97.7% hold an undergraduate degree and 40.1% hold a Masters degree
55.6% female vs. 44.4% male


Top Corporate Communication officers are: middle-aged,
paid very well, better educated
Continuing the trend from 2013,
the number of female
communication executive officers
who responded continued to increase
Age
Gender
Salary
What do you consider the top three trends in corporate communication?
"...how quickly everything happens.. chiefly because of social media..."
"...communicating for employee engagement..."
"...the challenges of achieving authenticity in an entirely transparent operating environment."

What are the success factors necessary to manage the corporation’s reputation?
"Insights into each of the organization's key constituencies. Influence on the organizations behavior and relationships with those groups, and the skills, resources and organizational support to communicate those behaviors effectively."
What are the core competencies necessary for corporate communication?

"...be a good writer" "...deep domain knowledge of business...a deep understanding of how your organization makes money..." "...aligning the organization's behavior with its communications.." "...being humble and that takes some maturity..."

How has uncertainty -- political, financial, and technological -- influenced the practice of corporate communication in your corporation?
"... uncertainty is your stock and trade. It's what you live with everyday... That's why ...it's so important to be aware of what's happening in real time any place that could ultimately have an impact on your company and to be prepared, taking the steps to react in a timely fashion and be nimble..."
What do you see ahead for the practice of corporate communication?
"So amidst all that change there is a huge place for corporate communications, because we are the storytellers, we are the reputation managers, we are the folks tasked with engaging employees. We are the folks tasked with relationships with our various stakeholders."
Director of CCI-Corporate Communication International:



Managing Director, Corporate Leadership at The Conference Board, Inc.



Associate Director of CCI:



Research Assistants:







Michael B. Goodman
Christina Genest
Bridget Beckles
Khiara McMillin
Matteo Tonello
The Conference Board
CCI- Corporate Communication International at Baruch College
Background on The CCI Studies
The first CCI study in 2000 focused on publicly traded companies for several reasons:
Information in such companies is public and more readily accessible
Public companies are in the vanguard of corporate practices because of



Public companies have a greater understanding that their “license to operate” comes from public approval & is maintained by public trust
the pressures of the capital markets
their need to respond to the media
the realities of the global marketplace
CCI/TCB Collaborative Study
The collaborative CCI and Conference Board study for 2015 continues the studies from 2000 to 2013
The 2015 survey instrument has these seven sections:
Organizational Practices
Leadership Practices
Responsibilities and Performance Measurement
Vendor and Agency Practices
Internal Communication Practices
Social Media Practices
Company Profile
Goals of the 2015 Study
Outline & analyze the state of the art for Corporate Communication practice in public, multinational companies
Continue the CCI Studies from 2000 - 2013
Identify & analyze Corporate Communication current practices
Identify trends and determine leading practices in Corporate Communication
Continue to build the database for further study
Distribute Key Findings to the academic and professional communities
11. Increases in technology, speed, and transformation of the discipline are among the top issues faced by corporate communication professionals; alignment across the enterprise and with business outcomes, convergence, and transformation

12. Corporate communication professionals see the top trends that they face related to social media, employee engagement, leadership, proactive engagement with company critics, demographics of the new workforce, and alignment with public interest

13. Social Media, no longer a novelty, becomes another part of the strategic management of corporate communication

14. Most of the heads of communication report to the CEO, but reflecting the transition taking place in the profession, many report to the Chief Marketing Officer. All of our respondents indicated that they were responsible for the oversight of internal communication. Since 100% of our respondents were responsible for overseeing internal communication, there were no differences by industry, annual revenue, or by number of employees

15. Corporate communication professionals see a bright future for the profession as it faces a challenging transformation, increased business complexity, greater demands for engaging employees in the corporate culture, meeting higher requirements for transparency, and the increased importance of the profession to the overall success of the enterprise
2015 Study Reports
A preliminary report of the study, presented in June 2015 at the Corporate Communication International’s Conference on Corporate Communication 2015 in New York at Baruch College.
A report of the study, presented in October 2015 at Baruch College/CUNY
The final report is anticipated to be presented in Fall 2015
&
Key Finding #11
Top Critical Issues are:
Speed
Consistency
Employee Engagement
Search for talent
Transition to digital
Convergence Marketing/Communication
Transparency
Authenticity
Measurement aligned to business outcomes
Legal compliance
New Demographics (millenials and aging population)
Alignment & Integration across organization
Anticipating changes


Increases in technology, speed, and transformation of the discipline among the top issues faced by corporate communication professionals
Key Finding #12
Top trends related to social media:
Social media platforms
Employee use of social media and mobile tech
Maintaining the value of face-to-face communication
Leadership engagement in communication
Proactive engagement of company critics
Increased reaction speed needed in a crisis
Demographics of a new workforce


Social media, employee engagement, and demographics of the new workforce among the top trends faced by communication professionals
Key Finding #13
Social Media, no longer a novelty, becomes another part of the strategic management of corporate communication
Blogs, social networks, and websites have become important vehicles of communication with key external stakeholders of the company
Social media becomes another part of the strategic management of coporate communication
Not to be repetitious, but:
Social Media, no longer a novelty, becomes another part of the strategic management of corporate communication
Key Finding #14
An important minority of the interviewees (28%) report being part of the Executive Comittee.


Almost a third of the CCOs interviewed (31.1%) report to the Chief Executive Officer;
A fifth (20%) report to the Chief Marketing officer;
All of our respondents indicated that they were responsible for the oversight of internal communication.
Key Finding #15
Bright future ahead as the profession becomes of greater strategic importance to the overall success of the enterprise
44.4%
55.6%

"....political uncertainty influences corporate communications … we increasingly are getting engaged in public affairs activities, so we've broadened our communications goal to include public affairs....we are supporting the company on things that are political in nature, through our public affairs activities.”
Impact of Dodd-Frank 2015
“I think we were on that path already before Dodd-Frank was passed… But our filings are simpler. They're more easy to read. We changed our 10-K filing this year to be less words, more graphics. Simpler, easier to understand. We've tried to just really make it easy for the average investor to understand the performance of the company.”

46.5%
75.6%
61.4%
According to thought leaders:
Leadership
Empowerment of employees through technology
The future of CC and structure within the C-Suite
Thought leaders add:
Integration of communication into business strategy
Alignment with and acting in the public interest
Self publishing and owned content
Employee involvement in communication
Contributing to the success of the business
Ethics
Social Media Policy
and Authorization 2015
“We're considered a strategic partner to the CEO, the CMO, the CIO, and we provide a wide range of strategic counsel and planning, and execution. Not only in areas where communications traditionally has played, like PR and internal communication, but also on things like culture, business development strategy, M&A.”

Almost ubiquous (above 90%)
Manager of the company's reputation
Counsel to the CEO and the Corporation
Manager of Employee Relations (Internal Communication)
Manager of the company’s image
Manager of relationships between the company and all of its key constituencies
Advocate or "engineer of public opinion," in support of the company's policies
Driver of company publicity
The
TOP SEVEN
in order are:
Full transcript