In In todays dynamic business environment Corporate Affairs (CA) is widely recognised as a major strategic tool in building corporate reputation and brand, forging strong corporate relationships with key external stakeholders and effective crisis management. Thus giing firms the key competitive edge they seek. With a growing trend towards proactive reputation management and a more integrated, network-oriented approach towards global communications, the complexity and professionalism of corporate affairs is increasing. Till a decade ago this function perceived as a support functionis gradually transforming to the leadership function.
It has been observed from interviews with CEOs that they attach high importance in attracting and retaining the right sort of corporate` affairs personnel talent. Corporate today in order to increase outreach to stakeholders adopt strategic approach to their communicationsinstilling a corporate affairs mind set through all functions, businesses & regions. This is being achieved through training,by forming alliances with industry players and improving internal communications to ensure the highest level of impact in a companies corporate affairs, along with the consistency of key messages.
To derive best results, senior executives should be able to communicate internally, to collaborate and reward their team for demonstrating an active orientation towards corporate affairs. For multinational and transnational companies it isimportant to include their local country managers in helping to define corporate affairs strategy and for corporate headquarters to delegate to local bases as much as possible.
What should the organizational Structure be: The organizational structure of corporate affairs can not be prescribed as one size fits all but certainly should comprise with the expertise in different areas of communication, regulatory affairs, government relations, capital market relations, media world , environmental related institutions and legal world. Ultimately reporting directly to the CEO does not govern its success. Undoubtedly the challenge of corporate affairs depends on its perceived importance to the CEO and also on the personal chemistry between the CEO and corporate affairs professionals. The significance of this relationship makes recruiting the right talent a top priority for companies wishing to raise the profile of their corporate affairs.
Tapping top talent: The Top corporate affairs team professionals has to be flexible, no fear individuals who are at ease with hierarchies and possess excellent communication (communication should never take the tone of criticism , but only to stress the points which companies needed to convey, criticism, specially of the competitors does not go well with people at large ) and networking skills. Ideally candidates should be articulate, enthusiastic and totally committed to their mandated job and function . The team should be stimulated by mental growth and challenges, they should also have an entrepreneurial approach and be able to think bottom line. While top professionals should should have good academic record , some may come from a business background such as marketing, procurement and finance.
They typically tend to fall into two categories: those who take a proactive approach and others with a more reactive profileIt has been observed the most successful corporate affairs teams have both reactive and proactive styles, as both offer valuable problem-solving attributes in the areas of corporate affairs.
In the search for talent companies look to competitors, other industries and media specialists, along with internal sources. However, it is worth noting that true experts in newer fields (such as Corporate Social Responsibility and Environment related issues) are sourced from outside the company generally from specialized organizations.
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