We know from many in the past that no one, no matter how big a splash they’ve made in the world with their company, is immune to illness. Brand managers must be prepared for the business press and know how to handle the situation.
Lessons from the Past
Executives of major corporations might want everyone to think they can never be taken down, but no person, no matter how powerful, is immune from natural events. Executives have gotten sick and passed away while they were still in control of their company.
Steve Jobs is one of the most famous. The founder of Apple went on medical leave near the beginning of 2011 after contracting pancreatic cancer. He died from the illness in October that year.
Larry Page of Google missed a major shareholders meeting in 2012 when he lost his voice. It was later revealed that Page suffers from a rare condition of vocal cord paralysis. It doesn’t affect his work performance, but some people were highly concerned about his health for a while.
Illnesses can hit anyone, particularly as people age. Organizations need to have a plan to mitigate risks and keep their teams in the know.
Both of the above examples featured major errors. When Jobs got sick, Apple wasn’t ready to handle the face of their company going on leave.
The company shared very little information with customers and employees until Jobs was in the final stages of cancer. Management even tried to lie about it, and said his weight loss had to do with hormones and nutrition.
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Jobs battled cancer for seven years. During that time, the company only shared vague information about his condition, which resulted in much criticism. Company stock fell 17 percent in two weeks because their vague announcements created a lack of confidence.
Page kept his condition secret for nearly a year. His illness didn’t affect his work, but a lot of corporate anxiety developed because he was not forthcoming.
Google’s situation was better than Apple’s because the firm eventually disclosed the information fully, but Page could have reduced the amount of panic and speculation simply by sharing the facts at the start.
Finding a Balance
There has to be a balance in the amount of information shared, however. Jobs had cancer for seven years before it took his life. During that time, he was able to stay pretty involved with the company, and his work didn’t suffer too much.
It may have been smart not to share his cancer case too early in the game because it could have caused a panic and made the company look weak. Still, sharing news when things became more serious could have maintained transparency and improved relations between employees and customers.
A better example of how to handle the PR involving an ailing CEO comes from JPMorgan Chase. In 2014, CEO Jamie Dimon revealed that he had been diagnosed with throat cancer. In the announcement, Dimon stated that his condition was curable, and the cancer was unlikely to spread.
Then he discussed the projected treatment plan and how it would affect his ability to run the company. He delegated responsibilities to the firm’s many other executives, who would be able to fill in while he was undergoing treatment.
This approach is exactly the kind of balance we’d expect with great PR. It keeps investors in the loop without starting a panic.
“These folks came out quickly and effectively,” said Charles Elson, director of the Charles L. Weinberg Center for Corporate Governance at the University of Delaware. “They did exactly what they were supposed to do.”
Following Dimon’s example can help companies of any size and field handle employee illness. Sharing honest information without causing a panic that reduces shareholder confidence is one of the best ways for a company to maintain a strong reputation and get through a difficult period.
Anna Johansson is a freelance writer, researcher, and business consultant. She also is a columnist for Entrepreneur, The Huffington Post and more. Follow her on Twitter and LinkedIn.(Image via)
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