Best Practices For Economic Communication During Crises

Markets were in chaos. Jamie Dimon sent a memo that calmed everyone. Here’s why great leaders overcommunicate in uncertainty: 👇 September 15, 2008. Lehman Brothers collapsed. The Dow dropped 500 points. Clients pulled billions from JPMorgan in panic. Inside the bank, fear spread. That’s when Jamie Dimon did something rare. He admitted what he didn’t know. His memo listed 3 unknowns and 3 certainties - no corporate spin. “We don’t yet know the full extent of counterparty exposure. But we do know our capital ratios remain strong at 8.9%.” Most CEOs wait for perfect clarity. Dimon understood the truth: people fear silence more than bad news. So he built a rhythm. The 3-3-1 Model: Every 72 hours, staff received an update with: • 3 things leadership knew • 3 things they were investigating • 1 concrete action being taken This gave people anchors in the storm. When asked about layoffs, Dimon said: “I can’t guarantee no changes. But I guarantee you’ll hear it from me first - not the Wall Street Journal.” He held daily 7am calls with division heads - not to micromanage, but to gather ground truth. He added a section called “What’s Still Working” to each update. To remind teams: the core still holds. And it worked. While rivals vanished, JPMorgan acquired Bear Stearns and Washington Mutual. Their stock rebounded faster than any peer. A senior risk manager later said: “Jamie’s updates weren’t always good news. But knowing someone was actively steering made all the difference.” This is the paradox of crisis leadership: When uncertainty rises, most leaders go quiet. But silence creates a vacuum, and fear rushes in. The best leaders do the opposite: • Communicate at 2x the normal frequency • Label incomplete info clearly • Focus on what you’re doing, not just what’s happening Because in chaos, your team doesn’t need certainty. They need to know you’re present, thinking, and leading. Want more research-backed insights on leadership? Join 11,000+ leaders who get our weekly newsletter: 👉 https://lnkd.in/en9vxeNk

Chaos or strategy? The White House has dominated headlines this week with a flood of executive orders and a sweeping federal spending freeze (which a DC Federal Judge just blocked). While some moves went viral, others flew under the radar—seemingly by design. In my view, this deluge of news isn’t accidental; it’s a calculated effort to overwhelm and sow doubt among detractors. But, amidst the noise, we can find critical “what not to do” communication lessons for business leaders. When making announcements that impact stakeholders in meaningful ways, clarity and strategy are non-negotiable. Here’s what we can learn from the White House’s approach: 1️⃣ Start with the solution: Don’t lead with disruption. Trump’s spending freeze announcement lacked actionable next steps, leaving stakeholders confused and concerned. Instead, identify the problem, present a solution, explain the “why,” and conclude with the “how.” 2️⃣ Be transparent: Honesty builds trust. Explain why tough decisions are necessary, why they’re happening now, and how you’ll avoid similar situations in the future. Transparency reduces panic and speculation. 3️⃣ Prepare for questions: A robust FAQ tailored to every stakeholder group is essential. Take time to anticipate concerns and ensure all messaging—whether internal or external—is aligned and consistent across channels. 4️⃣ Plan ahead: The best time to create a crisis communication plan is before you need one. Establish timelines for updates, assign roles, and ensure every action is communicated clearly to reduce uncertainty. Leadership isn’t just about making decisions; it’s about communicating them effectively. Executives should always aim for clarity over chaos—because stakeholder trust is built one message at a time. 

📢 When chaos strikes, clear communication can make all the difference.📢 As Kuhr Group LLC | Crisis Management enters its third year of a Crisis Communications consulting engagement with a Fortune 100 global energy corporation, we thought we would share some best practices that apply to the public and private sector: 🔹 Timely Updates: Provide early, real-time information to keep the public, stakeholders, and media informed. This is critical in controlling misinformation and controlling panic. 🔹 Empathy: It is essential that leaders address the emotional aspect of a crisis and acknowledge the concerns of affected communities and individuals. This is critical in building trust. 🔹 Transparency: Sharing what is known, what is unknown, and what is being done about the situation fosters credibility and trust. 🔹Jargon: Use plain language, avoiding corporate jargon to ensure message comprehension. 🔹 Accurate and Consistent Messaging: Ensure that communications are credible and consistent across all media and social media channels and platforms to ensure that all messaging is uniform and seen as reliable. 🔹 Simple, Actionable Information: Breaking down complex information into an Easy-to-Understand Call to Acton helps people understand their role in the crisis and how to respond effectively. Effective crisis communication saves lives and supports an effective response and recovery. 💪 #CrisisCommunication #CrisisManagement #EmergencyManagement #Risk #Resilience