Laying the foundation to create a superior communications function

Credit Suisse: Laying the foundation to create a superior communications function

Challenge:

When financial institutions were being challenged by the global financial crisis and unprecedented regulatory change, Credit Suisse emerged in a relatively strong position, with a solid external reputation.

The company set out to ensure that its brand attributes were not only understood and reflected internally with employees (more than 48,000 in over 50 countries), but were leveraged for even greater success in the future with continued reputational impact.

With senior-level sponsorship, Credit Suisse sought to better understand the state of internal communications at Credit Suisse and incorporate best practices from other global organizations that face similar challenges.

Actions:

  • Conducted an external best practices review of internal communications at leading global companies using a combination of primary and secondary research
    • Our view:  A broad perspective on best practices in internal communication – communication and financial services industry.
    • E-survey: A snapshot of selected companies’ best practice approaches to internal communication.
    • In-depth interviews: A deep dive into the strategic approach to internal communication at seven global companies.
  • Collected data through an internal study focused on the employee perspective to better understand the state of internal communications at Credit Suisse
    • Exploratory focus groups: Five one-hour manager focus groups aligned to geographic areas.
    • Leader interviews: Six one-on-one interviews with business unit heads.
    • Info flow survey: Quantitative data to prioritize and improve the flow of information and to evaluate channel effectiveness.
  • Developed individual business unit analysis of the communication environment and recommendations for improvement.
  • Interviewed the members of the International Senior Communicators Network to better understand global issues and perspectives around communications and to help drive the global strategy forward.

Results:

  • Created an integrated, global communications strategy for the whole of Credit Suisse.
  • Provided individual business units with detailed analyses of the communication environment and recommendations for improvement.

Other Case Studies