Blog - Keep calm and communicate

4 STEPS TO COPING AFTER THE REFERENDUM

Elation, Surprise, Panic, Fear or Armageddon!  So what was your reaction to the BREXIT referendum result?   It can’t be that bad – can it?

We seem to have coped with the initial aftermath of the result but if reports are anything to go by the longer term impact will be far reaching.  I’ve already read about the threat to major project like HS2 and the Hinkley Point project and some major companies are now reviewing their future investment strategies.  Add in the fear factor of other smaller companies and the impact is already being felt.   Some contracts have already been cancelled; the initial wave of redundancies is already taking place and there is definitely genuine concern in many quarters about the immediate future.  We’ll let the politicians get their own houses in order but what can we do to bring a sense of calm and order at this uncertain time?

First: stay calm – avoid hasty, emotive and premature decisions based on rumour and scaremongering.
Second:  review your business from top to bottom.  How will this affect your organisation and your clients? What are your international clients thinking about?  What concerns does your workforce have?  How will the economic climate affect your pricing structure and cost base?  How is your supply chain reacting? What can you do to help in all areas of business? How can you mitigate against the impact of these known and perhaps as yet unknown eventualities?
Third:  plan for the short, medium and long term.
Fourth: communicate with all your stakeholders – and keep communicating.

In reality, let clients and your staff know you have a plan; reassure them about their positon and be honest and open.  Talk through concerns and help to reassure and support.  If you need help, ask – there are plenty people out there who can help and time spent wisely now will safeguard your interests in the longer term.

The real measure of success and survival will be in effective collaboration and support.  You’re not alone so reach out and pull together.

Now is a good time to look at FMP 360 and our ground-breaking collaborative measurement system.  By using an independent specialist to focus on the real strategic priorities and by helping all stakeholders to identify and implement real steps for improvement you can realise the benefits of a stronger relationship and a truly collaborative approach to the challenges BREXIT will inevitably bring.

By Hugh Henderson