It’s that time of year again. The point when most sane individuals opt to kick off their shoes for two-weeks plus and wiggle their toes in the sand or drag the family around the sights of an as yet unexplored city.
Unfortunately for investor relations professionals, those pesky analysts and fund managers point blank refuse to come to some form of cartel agreement and shut down the markets for two weeks each summer. There they are taking staggered holidays to ensure that the research keeps churning and the trades keep happening while the unsuspecting IRO lies blissfully unaware on the beach.
Of course, it’s sod’s law that while you’re away something drastic will happen which really requires your attention. Products will be recalled, plants will burst into flames, huge lawsuits will land on the CEO’s desk, takeover bids will be launched. Summer brings such joyful things along in droves. Suntan lotion makers are particularly at risk.
What to do? In these days of electronic communication, should the career-minded IRO take a laptop down to the beach, ready to fire off e-mail and swing the crisis management plan into action? Should the mobile be taken up the Eiffel Tower to enable a quick exit from the kids when the call to arms comes in?
Two examples come to mind. The first involved an IRO who went to every possible length to ensure he stayed in touch with the office while on vacation. He spent a large chunk of his days on the hotel phone and plugged into his modem, missing out on the major family outings and failing to recharge his batteries. The office loved him but the wife and children were not amused.
The other involved an IRO whose board announced a merger two days before he was due to fly off to sunnier climes. There was absolutely no choice available. Clutching his ticket he boarded the plane and delegated all authority to his assistant. He claims his colleague learnt more about IR in those two weeks than ever before. And he returned refreshed and relaxed.
Most IROs would probably prefer to avoid both the above options and head for some middle ground. Indeed that’s the joy of today’s technology – it allows us to be in touch when it suits us, completely removed when it’s time to wind down.
So inform everyone of your number and e-mail address and urge them to send you messages. Make sure it’s clear that you want to be kept in the loop. Then set the mobile to voicemail and let the e-mails stack up unread. That’s the trouble with remote locations, people just can’t seem to get through. Just make sure there’s a data point available at the airport on your way home.
