In this article we discuss the value of leveraging your company heritage during times of crisis and, importantly, the value of having in place a methodology and framework to enable you to access and share your unique story in such unexpected situations.
By: Scott McMurray (History Factory) and Joseph Harrison (Deloitte)
One common theme in the corporate world’s response to the COVID-19 crisis has been to tap into an organisation’s heritage and longevity to reassure external stakeholders as well as employees. Televised and online ads shared messages with common phrases such as “We’ve been through crises before, and we’ll get through this one as well by tapping our inner strengths.” And though, as some commentary suggests, these brand messages blurred together, their common theme reflects a universal human capacity for hope.
In this article we discuss the value of leveraging your company heritage during times of crisis and, importantly, the value of having in place a methodology and framework to enable you to access and share your unique story in such unexpected situations.
Why Heritage, Why Now?
Having the foresight to establish processes that ensure heritage materials and stories are immediately accessible and shareable allows for a crisis response that is timely and feels authentic to both external and internal stakeholders—one that speaks to the head as well as the heart. At the same time, the existing heritage infrastructure enables the efficient capturing of stories conveying the impact of the current crisis and importantly, the response and reaction of the company, for future use.
We are sharing with you a framework and set of best practices for how to ensure your business can maximise the return on your inherent brand story—for this crisis and those that will inevitably follow. Leveraging your heritage is a critical business imperative. Intangible assets form the bulk of the value of the S&P500. Capturing your brand legacy and heritage are a major component of that value.
Employing your heritage serves multiple communication goals. Crafting compelling crisis communications that go beyond the expected and genuinely move the audience is an immediate benefit of leveraging your heritage. Building trust and confidence among employees and smoothing transitions to the “next normal” is another. Longer term, capturing and leveraging your heritage can help distill strategic insights and knowledge, shape executive leader legacies and help authenticate your purpose and core values.
Building the Foundations
Deloitte is the largest professional services organisation in the world and the world’s most valuable commercial services brand, according to Brand Finance . With more than 300,000 professionals worldwide, Deloitte helps clients realise their ambitions, aims to make a positive difference in society and strives to maximise the success of its people. This drive to make an impact that matters has guided its journey for 175 years and runs deep throughout the organisation.
Deloitte is also the oldest name in the professional services industry, having been founded in London in 1845 by William Welch Deloitte. To prepare for the global celebration of its 175th anniversary this year, Deloitte engaged with History Factory to help the organisation gather and curate archival materials and conduct dozens of interviews with Deloitte leaders to capture its heritage. Last year they began introducing the anniversary themes, laying the groundwork for multiple events, various communications and other planned activities to celebrate 175 years of service in 2020.
Then the COVID-19 pandemic hit. As the global spread of the virus became apparent in the early weeks of 2020, Deloitte had a choice to make—if, when and how to mark its 175th anniversary. Large gatherings of professionals were clearly out of the question, as was face-to-face socialising of any kind.
One option was to simply move on. No one wants to appear celebratory when people around the world are suffering. Deloitte chose a different path.
Deloitte pivoted to demonstrate leadership and stability during the crisis and leveraged its accumulated heritage assets to highlight the organisation’s culture of resilience. Deloitte continues to use that platform to tell a unique story that conveys the strength and stability of this 175-year-old organisation
Deloitte has been able to draw upon its heritage to help reinforce an authentic path forward because it remains true to its values and purpose. Examples from its history perfectly illustrated the resilience of the organisation and how one can learn from and leverage the past to support the present. One example comes from World War II. When other companies were opting to remain isolated and looking to ride out the crisis by clinging to the status quo, Deloitte predecessor firm Touche, Niven & Co., published the following in its 1940 Special Bulletin:
The world will not return to the old order of things . . . . We cannot remain unaffected. We should keep ourselves ready to carry on by means of the quality of our work . . . . In the meantime, it behooves us to stand by the old-fashioned virtues.
Deloitte defines the key phases in any crisis using three terms—Respond, Recover and Thrive. Respond is the initial phase in which leadership and employees address the present situation, focussing on stability and continuity. Recover is the learning phase in which a company applies the lessons of the crisis, tests pre-crisis assumptions and ways of doing things and emerges stronger than before. Thrive marks an accelerating phase during which the company both prepares for and shapes the “new normal.”
During a crisis, leveraging your heritage is imperative. In response to the COVID-19 crisis, Deloitte worked with History Factory to marry its established heritage methodology—Capture, Curate, Communicate, Codify—in support of the three-phased crisis framework. Different aspects of the heritage methodology are given greater weight within each of the Respond, Recover and Thrive phases of a crisis. For example, Capture and Curate play a greater role in the early Respond and Recover phases than in the final, Thrive phase, which builds upon the foundation established in the earlier two phases. Codify comes into play mostly in the Recover and Thrive phases as the organisation pulls together its heritage to support key strategic objectives. Communicate, on the other hand, plays a leading role in every step of the process.
Different companies and organisations may be in different phases of the crisis, depending on the specific industry and geography. At the same time, there often is no clear break point between one phase and the next. Part of an organisation, for instance, may still be responding to the crisis, while another, due to its location or product mix, may already be well into the recovery phase. Transitioning from Recover to Thrive will also be something of a sliding scale for many organisations. Even if leadership is convinced that the organisation has put the Respond phase behind it, taking the time to capture and curate your heritage as you pass through the Recover phase will be time well spent in support of current and future crisis-response efforts.
Following are the three phases of crisis response and the recommended emphasis that should be placed on leveraging heritage assets through each of the phases:
Joseph Harrison
Associate Director, Brand Identity and Operations Leader – Global Brand
Joseph oversees the most recognisable and definable components of the Deloitte global brand – specifically, all asset management and compliance activity, brand expression and protection, visual and sonic identity building, stakeholder engagement and creative resources. Most recently, Joseph has led the efforts to mark Deloitte’s 175th Anniversary (2020) globally, illustrating how Deloitte has made an impact that matters since its founding in 1845 and has also led the work to develop Deloitte’s first ever global sonic brand.
Scott McMurray
Vice President, Editorial
Scott writes books and conducts oral history interviews for key clients of History Factory, from national oil companies in the Middle East to global consulting firms, insurance companies, cable television pioneers, money managers, biotechnology companies and nonprofit health-care systems. Scott works with clients to help shape the editorial components of their heritage projects, including book-length histories, online content for employees as well as external audiences and material supporting milestone advertising campaigns.
The power of curating heritage assets is apparent in one of the archival “golden nuggets” unearthed in the process of capturing Deloitte’s 175 years of heritage. A History Factory researcher conducting online research into Deloitte’s history came across an auction house reference to a copy of the first partnership agreement signed by founder William Welch Deloitte in 1857. With some back and forth the papers were determined to still be available and were quickly acquired, placing this piece of important history back in Deloitte’s possession.
The partnership agreement represented the founder’s first effort to ensure the continuation of the leading practice he established in London. Deloitte leadership grasped the significance of the document as a unique representation of the organisation’s resilience over time and around the world. It became a centrepiece of Deloitte’s celebration of its 175th anniversary and its 2019 World Meeting in Singapore.
Takeaways—10 things you can do to better leverage your heritage during the three phases of a crisis.
Respond
Recover
Thrive
HISTORY FACTORY
History Factory is a pioneering agency dedicated to helping organisations across the globe leverage their heritage to drive brand, marketing, communications and culture initiatives. Since 1979, History Factory’s innovative archival and creative services have helped industry leaders capture and communicate the authentic stories that demonstrate their core character. These stories are brought to life through engaging experiences and campaigns that connect an organisation’s past experiences with its future success.
DELOITTE
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Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the “Deloitte organization”) serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 312,000 people make an impact that matters at www.deloitte.com.
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