Bank communicators on the hot seat

There’s arguably no industry under more pressure to calm employee fears today than banks

In corporate communication, a key to containing a crisis is timing.

Case in point: On Sept. 25, JP Morgan Chase bought Washington Mutual Bank seconds after going in to receivership at 9 p.m. EST.

At 9:15 p.m., every Washington Mutual Bank employee received an e-mail from Chase CEO Jamie Dimon, entitled “JP Morgan Chase and Washington Mutual join together,” said Tom Kelly, media relations for Chase.

Dimon welcomed the WaMu staff to the Chase family with an employee-directed Q&A to address their top concerns, everything from “Why is JP Morgan Chase doing this acquisition?” to “How should I answer the phone?” He provided answers on benefit changes, consolidation and on how to reassure the public that their money was safe.

There is perhaps no other kind of company more under pressure to calm fears inside its own walls than banks. With headlines forecasting a looming depression, they have to be in a position to communicate quickly—sometimes immediately—with employees.

Successful strategy: Be transparent