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Page 1: Communicate Effectively with your Stakeholders · 2013-01-14 · Communicate Effectively with your Stakeholders Robert D. Miller October 1, ... can cover its benefit obligations through

Communicate Effectively with your Stakeholders

Robert D. MillerOctober 1, 2012

Page 2: Communicate Effectively with your Stakeholders · 2013-01-14 · Communicate Effectively with your Stakeholders Robert D. Miller October 1, ... can cover its benefit obligations through

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Today’s Discussion

Why is effective communication important?

Who are your stakeholders?

Types of communication

Best practices

Questions

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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]


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