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Numerous US multinationals have removed references to climate change from their websites. The FT reported last week that hundreds of US companies have removed DEI references their annual reports.
The political weather has changed and, unsurprisingly, the corporate world is moving quickly to acclimatise.
As often the case the smart move could be more complicated. Some business risk attracting activist ire and foster employee discontent. Multinationals need to recognise that what is expected from a US administration may be less welcome in other jurisdictions.
The political weather may change again, and what happens today will not be forgotten. Many business leaders would, frankly, prefer to get on with the job and leave the politics to politicians.
To help businesses in EMEA and North America understand how to navigate today’s environment without putting tomorrow at risk, Hanover has launched COMPASS.
COMPASS is a proprietary methodology, based on the principles of Purpose, Impact, and Influence, designed to help navigate today's complex business environment.
Our starting point is that any communication or political decisions should be rooted in a defined company purpose, in service of a commercial business objective.
Next we work with businesses to map their political and reputational network to help them understand who has the ability to threaten that business objective, the level of influence they have and the likelihood of action. More than reputation, this is about understanding the potential for direct regulatory or legislative impacts.
Finally we develop a clear engagement and communication plan designed to mitigate risk while strengthening reputation and relationships. Communication and wider engagement that will have a direct impact on what you are trying to achieve.
COMPASS = Purpose, Influence, Impact. A clear direction for your business or organisation.
Businesses are grappling with how to respond to geopolitical volatility. The ferocious first months of the new Trump administration have seemingly fostered a sea change in business priorities, at least publicly.
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