It’s often said that good communication is a key component of corporate strategy – and this has never been truer than it is today.
We are living in challenging times, with geopolitical tensions, economic pressures on businesses and a high cost of living continuing to squeeze consumers. Combined with the speed at which things now move, it all adds up to an uncertain environment in which confidence is fragile. But if we let the negatives and possible downsides dominate, the danger is that things only become worse. There is a danger of talking ourselves into recession.
Communication matters
That is why clear and open communication is so important. Business leaders need to deliver an honest narrative to staff and external audiences that tells the whole story and keeps a sense of balance – acknowledging the challenges, being honest about where things need to improve, but ensuring you do justice to the positives and placing things in the context of the longer-term picture and organisational plan.
For example, while there are definitely real challenges in the economy, there are also points of encouragement – possible green shoots that presage better things to come. The stock markets are riding high; the UK’s export figures have been strong; inflation is falling, which could pave the way for further interest rate cuts; and, on the service side, our UKCSI, released in the summer, showed that customer satisfaction is up, which could help bolster increased consumer engagement and business.
We can’t be complacent about the future. But we also can’t allow ourselves to only focus on the blips and the pinch points. Negative news may grab our attention more easily, but this shouldn’t crowd out the progress being made.
Destabilising speculation ahead of the Budget
The Chancellor’s Budget is a good case in point. There was an extraordinary amount of speculation, conjecture and rumour in the run-up – more than I can ever remember – with numerous policy decisions reported to be in the frame, then out again, then in again, etcetera. The effect of this was to dampen confidence and make many businesses sit on their hands.
As it turned out, the Budget was notable for the lack of surprises it contained. The increased tax burden will likely weigh on consumer confidence, and OBR growth forecasts look glum. At the same time, an initial (and limited) attempt at levelling the high street vs online retail playing field seems to have met a muted response.
The Chancellor’s announcement of £820m for a “youth guarantee” and the commitment to provide SMEs with funding to offer apprenticeships were worthy of note. Customer-facing roles offer a chance to develop crucial transferable skills whilst contributing to the UK’s service economy, and measures which support people in gaining experience and the broader professionalisation of service are to be welcomed.
The Budget experience only underlines how important it is to try to keep control of the narrative. Perhaps as business leaders, we should be grateful that, compared to the government, our task is much more concentrated and self-contained!
Communication strategy and planning
My advice is to make communication a key focus. Map out a communication strategy and plan for the next 12-24 months with your comms and PR team and keep that under regular review to ensure it stays current. Make sure you sustain a regular rhythm of communication that is open, honest and balanced. Acknowledge the challenges, but also emphasise the positives.
Operationally, try to be agile and flexible, making necessary adjustments when conditions change – but avoid tipping into knee-jerking reactions. In particular, pay close attention to how any changes or course corrections are communicated; don’t gloss over them, but do make sure they are kept in perspective and don’t dominate the narrative at the expense of everything else.
It isn’t easy navigating the right path, especially when conditions are so volatile and unpredictable. But those businesses that keep the bigger picture in sight and communicate calmly and steadily along the way are far more likely to reach their milestones with staff and stakeholders onside and engaged than those who lose control of the story and continually firefight and improvise their way through.
Make communication a key priority in 2026 – it’s an indispensable tool to leading in uncertain times.
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