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    Home»Growing Importance of Stakeholder Engagement

    Growing Importance of Stakeholder Engagement

    By November 28, 2022No Comments4 Mins Read
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    Over the past decade, perceptions of the public relations and policy advocacy space in India have changed significantly. This evolving idea has established more transparent industry and government engagement focused on developing more profitable business platforms, building trust and enhancing stakeholder engagement.

    Public relations work in India covers many facets. These include policy analysis, research and advocacy, government, business, and foreign relations. Stakeholder Engagement, Corporate Communications, Media Relations, Developing Key Long-Term Relationships, Alliance Building, Crisis Management, Corporate Social Responsibility. Spokespeople are responsible, compliant, and structured to contribute to progressive democracy by participating in a variety of sectors, including the business community, political parties, society, policy regulators, trade associations, academia, and think tanks. must adhere to a standardized and ethically correct code of conduct. At the same time, it seems appropriate that their career paths be carefully nurtured, guiding them towards personal, social and professional sustainability for the benefit of all involved.

    The Public Relations Forum of India (PAFI) and Ipsos, one of the world’s largest market research and insight companies, recently released the following report: Public Relations Career in India: A Tipping PointThis report is based on research conducted to identify and understand the current and future prospects of public relations professionals in India. The purpose of this study was to explore, document and identify the career progression paths, compensation trends and professional advancements of Indian public relations officers. It was conducted among spokespeople working in a wide range of organizations in a variety of sectors from diverse sectors such as the digital, manufacturing and multinational sectors, with varying annual revenues, employee size and tenure in business operations. And the global headquarters was outside. India.

    The study comprehensively covers all aspects of public relations, including employee size, compensation, retention challenges, professional challenges, pandemic impact and required skills within an organization. Interestingly, it also covered the legacy of public relations functions. We strongly believe that public relations professionals have an important role to play within organizations as they are the architects of trust between industry and government. This function has always been there – historically a form of corporate liaison and lobbying, and is now rapidly shifting to the forays of strategic corporate functions covering a wide range of issues and external stakeholder engagement. I’m here.

    Primarily, the central goal of this study was to capture macro trends in career and development opportunities for professionals working in the public relations sector in India. Some of the key findings of the study are:

    1, PR is an existing feature. Nearly 38% of companies have been in the field for almost 20 years. Over the past few years, this function has gained importance and credibility for administrations regardless of their position in power.

    number twoa very important aspect of public relations is that it entrusts great responsibility to a select few.

    Third, the complexity of regulation at the state and central levels is part of the business. By advocating for easing regulatory challenges to ensure business continuity, this feature has created many opportunities.

    the 4th, public relations is a high-paying career. However, the wide width of each experience band indicates a lack of standardized practices in team structure and member seniority. This often leads to ambiguous work area roles.

    FifthIn particular, this function requires specialized skills acquired through experience, and the threat of intrusion from the side is low.

    Sixth, the growth opportunities in this region are quite high. However, organizational lack of awareness and unrealistic expectations often make employee retention difficult for companies.

    finally, To chart the right career growth trajectory, companies must work to articulate KPIs for performance and progress.

    The survey clearly shows a renewed enthusiasm and focus for public relations departments, but a shift toward being enriched with greater responsibilities is clear. Reiterating the importance of this function, I would like to emphasize that in order to make corporate strategy more effective, organizations need to focus on increasing the direction of public relations in the broader role of corporate strategy. increase. We need buy-in from the Board and CEO to recognize this capability as a key to success in this complex global and Indian business environment. It’s time to leverage public affairs beyond crisis management. Governments are beginning to recognize the value of engaging with public policy experts. Now is the time for companies to properly perceive, evaluate and recognize their role from a more strategic perspective.

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    Disclaimer

    The above views are the author’s own.



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