Communicate Effectively with your Stakeholders
Robert D. MillerOctober 1, 2012
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Today’s Discussion
Why is effective communication important?
Who are your stakeholders?
Types of communication
Best practices
Questions
Why is Effective Communication Important?
The retirement environment has changed.
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Why is Effective Communication Important?
71% of likely U. S. voters believe government workers get better benefits than private sector workers
14% disagree
15% not sure
Rasmussen poll, March 4, 2011
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Why is Effective Communication Important?
56% would rather reduce promised benefits for public employees than pay higher taxes to ensure that all promised benefits are paid
21% would rather pay higher taxes than reduce public employee benefits
23% not sure
Rasmussen poll, November 3, 2011
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Why is Effective Communication Important?
Since 2009, 45 states have rolled back pension benefits for teachers, police, firefighters and other public workers
Wall Street Journal, September 21, 2012
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Why is Effective Communication Important?
Texas is different
Teacher Retirement System -- $110 billion fund can cover its benefit obligations through 2075
Employees Retirement System – Assets sufficient to pay promised benefits for next 70 years
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Why is Effective Communication Important?
“Any legislative battle to change the Teacher Retirement System and the Employees Retirement System will be an unnecessary one. Neither faces a crisis. Legislators should leave them alone.”
Austin American Statesman editorial, September 29, 2012
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Why is Effective Communication Important?
Proposals to eliminate defined benefit retirement plans for public employees
HB 2506 by Chisum relating to creating defined contribution retirement plans for persons eligible to participate in ERS and TRS
Texans for Public Pension Reform
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Why is Effective Communication Important?
Perception is reality.
Nature abhors a vacuum.
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Who are your Stakeholders?
Plan members and beneficiaries
Labor organization(s)
Plan sponsor
State and local elected officials
Taxpayers
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Types of Communication
Reactive Responding to stakeholders Responding to media inquiries
Proactive Stakeholder outreach Government relations Media relations Public relations Messaging and branding
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Best Practices
Craft a consistent, factual message Create a brand Put a face on it Stay on message and stand together Respond immediately Communicate proactively Engage your stakeholders Embrace social media Regularly update your web site Scale to your situation
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Questions
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Robert D. MillerChair, Public Law Group
Austin: 512.305.4867Houston: [email protected]