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The Future of the PR Industry

The Future of the PR Industry. In House Corporate Affairs/Corporate Communications teams November 22 2012 Aileen Thompson. Contributors. Workstream contributors Helen Dickinson (John Lewis) Dick Fedorcio OBE (Corporate Affairs consultant) David Holdstock (Local Government Association)

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The Future of the PR Industry

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  1. The Future of the PR Industry In House Corporate Affairs/Corporate Communications teams November 22 2012 Aileen Thompson

  2. Contributors Workstream contributors • Helen Dickinson (John Lewis) • Dick Fedorcio OBE (Corporate Affairs consultant) • David Holdstock (Local Government Association) • Simon Kleine (Western Union) • Aileen Thompson (Corporate Affairs consultant)

  3. In House Communications Teams today • The industry is growing • fee income for consultancies growing 10% a year • Outsourcing of some – or all – in house public relations activities continues • PRCA, CIPR membership increasing • In House Data • Lack of published information (public sector is the exception) • Influence in the Boardroom • Out of 93 FTSE 100 companies, 67 (73%) employ a Corporate Affairs Director • 76% of these report to the CEO • 46% of Corporate Affairs Directors sit on FTSE company Executive Committees • Vision of the industry in house and in consultancy broadly similar • CIPR’s 2020 vision • Focus on professionalism, pride, reputation, valued contribution

  4. Implications and observations • Lack of robust metrics – how important is this in shaping the future of the industry? • Membership of trade associations by in house teams - an issue? • The PRCA could collaborate on supporting the CIPR’s 2020 vision. How can we support and develop a broader actionable plan?

  5. 1. Economic and business performance • Challenging….and an opportunity • Technology developments continue to re- shape business models • Gen Y and the rise of social media will also influence Which means • Squeeze on spend, resources; ROI a continuing focus • Impact of the digital revolution perhaps the greatest challenge

  6. 2. Technological changes • Cloud computing • Mobiles and tablets Will mean communicators will get increasingly involved in • Privacy and security of data • Education, training, nurturing talent

  7. 3. The rise of social media • Proliferation will impact company and organisation culture Which will mean • Growth into B2B channels, public sector • Need for greater awareness, understanding of protection of organisation and brand IP as well as copy right, libel, defamation • Focus on digital strategy • Capability and skills

  8. 4. Trust • General erosion across most stakeholders • Growth in trust in “a person like me” Which is leading to • Continued, deepening focus on corporate reputation, ethics and morals • Unclear landscape on further restrictions on stakeholders • Our profession can earn the right to lead on ‘trust’

  9. 5. Talent • Attracting, retaining, developing and inspiring the current and next generation of public relations professionals • Collaborating with others to lead and live best practice • Embracing Gen Y Implications • In house teams use a variety of routes to support, develop teams. Could the PRCA take a lead in creating benchmarking in house teams?

  10. Summary • Challenges and opportunities are clear - is there a vision, the energy and commitment to tackle what they mean for the industry? • Collaboration needed now to create a more detailed approach with measurable actions and outcomes

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