Whether or not public relations companies do a brisk trade during the global economic crisis depends on the value add potential - what they have to offer in crucial areas of expertise.
The notion that PR people are whistling their way to work as Paul McIntyre reported in a recent article in the Sydney Morning Herald, apart reinforcing a shallow PR stereotype of gauche indifference, is a sweeping generalisation that warrants dissection.
I doubt whether any fair-minded PR professional relishes this time of economic downturn and uncertainty, says Jackson Wells CEO John Wells. This is a tough time that clearly heightens the need for businesses to sharpen up their efforts in reputation management and strengthen their engagement with the political process.
This is particularly true in the financial services industry, which is highly regulated and operating in an environment that is being battered by the crisis and is facing a growing clamour for greater intervention.
Manuel Rybach, from Credit Suisse Asia Pacific, recently wrote in PublicAffairsAsia:
The overarching goal for public affairs in times of crisis in this context is to safeguard and/or reinstate confidence among political stakeholders and dialogue partners. Trust is one of the most highly valued commodities in a crisis.
As the recession bites, much of Jackson Wells client focus is in the critical areas of crisis management, issues management and government relations.
Strategic and proactive dialogue with decision makers is essential as is high integrity messaging to stakeholders including government, consumers, investors and shareholders. For the PR industry it is not about opportunism, its about adding value to crucial activities through good advocacy and issues management at a time when business most needs them.