CRISIS SIMULATION: MAJOR FINANCIAL SERVICES PROVIDER
A multinational financial services corporation had a reputation to protect. Data Breaches, active shooters, employee issues, product recalls and other crises had kneecapped companies of similar size– was this organization prepared to handle such a crisis?
- Bolster crisis readiness
- Test crisis response in a safe environment
- Define clear roles and responsibilities
- Empower team members with confidence in crisis
For the past three years, Kith has designed and executed an annual crisis readiness exercise for the financial services corporation known as Crisis Squared. Crisis Squared is an intense, time-driven session that demands rapid cooperation and organization from members of the communications team and other disciplines including legal, internal communications and HR. Each year featured a different customized scenario, complete with highly realistic social media posts, broadcast media clips and even calls from role-player journalists. Kith has challenged the teams with scenarios including data breaches, employee issues, partner disputes and other crises.
Prior to each Crisis Squared simulation, Kith worked closely with leadership to design a credible scenario applicable to the company’s unique challenges and align on exercise objectives, goals and desired outcomes. Kith also created media packages (news articles, broadcast media segments, social media posts) to utilize during the exercise, lending the scenario an even more realistic feel. Each exercise was led by crisis communications expert Bill Coletti, who in addition to facilitating the exercise collected observations about the teams’ performance.
The Crisis Squared simulations created and facilitated by Kith have been so successful that Kith is now a staple of the company’s training program for its communications team and continues to be invited back year after year. Leadership has reported an increased awareness about their current plans’ strengths and gaps and been able to adjust the company’s plans before a crisis struck. Post-exercise feedback from participants indicates that participants feel better prepared for when a crisis strikes, as they have a better understanding of their unique roles and responsibilities.