The recent downturn and financial crisis has led many PR professionals to wonder whether it poses an opportunity or a threat to our profession. On one hand, because of the sheer nature of what we do, companies need our counsel at such times the most--to communicate with different stakeholders, increase frequency of employee communications, monitor the media, safeguard reputation or simply provide on-going strategic counsel. On the other hand, companies are slashing budgets which may or may not include PR, so business at lot of PR agencies who counsel these companies may affect adversely.
Weber Shandwick recently did a study and found that companies are not communicating enough in the present crisis and hence, there is an opportunity for PR profession. In fact, Jack Leslie, the chairman of Weber Shandwick said on CNBC that he has seen an increased demand for communications in the management. If so, its great news for our profession. We are finally recognized for the value we demonstrate to companies. For more on the CNBC interview with Leslie and more on role of PR in this crisis, click here.
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I think this financial crisis will help show the value of PR to companies. Effective communication is neccessary at this point. However, I think that it will hurt young professionals like ourselves, trying to break out in the industry. For those that have already proven themselves in the field, they will have a prominent role during the crisis. But, as a graduating student, my chances of finding a decent entry-level job are diminished.
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