How to Create a Crisis Communications Plan

Why Every Listed Company Needs a Crisis Plan

A crisis communications plan is your playbook for managing reputational threats. Without one, teams improvise under pressure. They make avoidable mistakes. Response times stretch while people debate who should do what. The result is typically worse outcomes and longer recovery periods.

For listed companies, the stakes are particularly high. Market capitalisation can evaporate within hours of a poorly managed incident. Regulatory scrutiny intensifies. Institutional investors question management capability. A documented, tested crisis plan reduces these risks significantly.

Step 1: Identify Your Crisis Scenarios

Effective planning starts with understanding what might go wrong. Most listed company crises fall into recognisable categories.

1. Financial crises: profit warnings, accounting irregularities, missed guidance, liquidity concerns
2. Governance crises: executive misconduct, board disputes, shareholder activism
3. Operational crises: product failures, service outages, supply chain disruptions
4. Regulatory crises: investigations, enforcement actions, compliance failures
5. Reputational crises: social media incidents, negative press coverage, controversy
6. Cybersecurity crises: data breaches, ransomware, system compromises

Map your specific vulnerabilities against these categories. Prioritise your planning accordingly.

Step 2: Define Your Crisis Team Structure

Crisis response requires clear roles and decision-making authority. Your plan should define specific roles with named individuals and deputies. Document contact details, escalation procedures, and out-of-hours protocols.

Step 3: Map Your Stakeholders

Different stakeholders need different information through different channels.

• Shareholders and investors: institutional holders, retail investors, analysts
• Regulators: FCA, relevant exchange, sector-specific regulators
• Employees: staff, contractors, unions
• Customers and partners: key accounts, suppliers, distributors
• Media: financial press, trade media, broadcast
• Communities: local communities, NGOs, interest groups

Step 4: Develop Message Frameworks

Pre-approved message frameworks accelerate response without sacrificing quality. Effective crisis messages typically follow a structure. Acknowledge the situation. Express appropriate concern. Outline what you're doing. Commit to updates.

Step 5: Establish Approval Processes

Speed matters in crisis communications, but so does accuracy. Consider tiered approval based on communication significance.

Step 6: Plan Your Channel Strategy

1. Regulatory announcements: RNS/exchange requirements for price-sensitive information
2. Press releases: detailed statements for media distribution
3. Website: dedicated crisis information page, updated FAQ
4. Social media: rapid updates, stakeholder engagement, rumour management
5. Video: CEO statements, explanatory content, social-first formats
6. Direct communications: investor letters, employee briefings, customer notifications

Step 7: Test and Refine

A crisis plan that hasn't been tested is a crisis plan that probably won't work. Run tabletop exercises at least annually.

Need help developing your crisis communications plan? Reach out at hello@corpcast.co.uk.