Ever feel undervalued? Taken for granted? Overworked and underpaid? You’re probably looking for some comforting words to cheer you up. Tough. If that’s the case, you’re better off putting this magazine down now and taking another dose of valium – because these pages contain some sentiments that could make you anxious.
This month’s cover story hints that the year’s volatility is not just a blip but a fact of life that companies are going to have to live with. Whatever you choose to blame it on – an increase in global consolidation, online trading, momentum investors with a herd mentality, a Millennium Bug-related glitch, the wrath of God Almighty Himself – it looks like the stock market roller coaster is going to continue thrilling and spilling.
Those IROs with nervous dispositions who hid in the relative safety of bricks-and-mortar companies might have thought they were safe from the lightning bolts of volatility – apparently not. Like jelly at a children’s party, it’s getting everywhere. And that could lead to two great IR headaches – lower liquidity and fearful shareholders. As if IR wasn’t tough enough.
Investor relations officers who have spent years with their noses to the grind stone, working their fingers to the bone (literally in many cases) will curse this extra bind. But it seems to be a case of ‘put up or shut up’ because most accept that volatility has got a grip of the markets and won’t be leaving in a hurry.
Besides, investor relations is about taking the rough with the smooth – effective communication whatever the weather. And it is technically possible to receive praise while your stock price is nose-diving – especially as investor relations professionals are gradually drifting into CEOs’ ‘List of people who’ll help me keep my job’.
A bit too gradually for some people, though. Of course, IR practitioners should have CEOs beating down their doors, poaching them for exciting new jobs and forking out ludicrously big pay packets for the privilege. But our lead feature, Job done? indicates that IR recruitment is not quite a one-way appreciation society. Employers are choosy and finding the vacancies in the first place is tough.
This is the magazine’s first page and, even now, the stressed among you are probably plunging your heads into your hands and thinking of ways to take the pain away. In fact, if IR is getting you down, this month’s International Investor Relations Federation conference could be your nemesis. The three days of discussions, forums and meet-and-greets might hurt your brain. Of course, it might be wonderfully therapeutic. The opportunity to seek comfort, crying on the shoulder of a peer, might be just the tonic, while the digestion of new ideas could leave you inspired and energized.
More importantly, there’ll be a chance to network with other members of the IR community. Who knows, you might forget about your stock price woes and find yourself chatting to a future employer. Someone who shows you the love you deserve.
