As we step into a new financial year, stakeholders in your organisation have likely set or refreshed key performance indicators (KPIs) and outcomes that they are eager to achieve.
For communicators, staying informed about these objectives isn’t just beneficial—it’s essential.
Are you aware of what your key stakeholders aim to accomplish?
Now is the time to re-evaluate the depth of your stakeholder relationships, ensuring that they are primed for collaborative success as you begin this new year-chapter together.
Assessing the Nature of Your Stakeholder Relationships
Success in communication and public relations hinges on the depth of your relationships with key stakeholders.
Are you seen as a trusted advisor, a confidante, or simply as a transactional contact?
The role you occupy in their view significantly influences the effectiveness of your communication efforts and the strategic value you bring.
If your relationship holds an advisory or trusted status, stakeholders are more likely to value your insights and align with your initiatives. On the other hand, if the relationship is perceived as transactional or distant, it can be challenging to convey the importance of communication strategies or achieve the buy-in necessary for a successful plan. Recognising where you stand allows you to set a clear path forward.
Moreover, maintaining a senior-level counsel or advisor role means that stakeholders will naturally engage with you more openly, offering insights that can improve your approach and strategic input.
In short, understanding and elevating the nature of your relationship with stakeholders is a crucial factor in achieving your communications objectives.
When Stakeholders View You as a Transactional Contact
A transactional relationship with stakeholders can hinder the outcomes of your master communications plan. When communication is merely seen to an end, stakeholders may not fully grasp the long-term benefits of a robust communications strategy, making it challenging to secure the resources and alignment needed for impactful work.
Without the deeper trust that comes from a strong relationship, your plans may be deprioritised or dismissed in favour of short-term initiatives. This can create a reactive rather than a proactive communications environment, where projects and campaigns are implemented on the fly, risking inconsistent messaging and reduced impact.
Critically, when you’re seen merely as a support function, stakeholders are less likely to involve you in early planning stages, meaning that you miss out on opportunities to shape strategy from the ground up.
This reactive role limits the potential of your communications efforts, making it harder to achieve cohesive and aligned outcomes across the board.
Conducting a Relationship Check
It’s essential to face the reality of your current relationships and assess them with a clear, objective view.
A ‘relationship check’ allows you to identify strengths and areas for improvement, ensuring you’re strategically positioned as a valuable partner.
Here are five aspects to gauge when evaluating your stakeholder relationships:
- Frequency of Engagement – How often do you meet with your stakeholders, and is this interaction sufficient for your role?
- Quality of Communication – Are discussions collaborative and open, or do they feel rushed and transactional?
- Level of Trust – Do stakeholders seek your counsel on strategic issues, or do they only consult you when they need something specific?
- Visibility in Decision-Making – Are you invited to participate in decision-making processes, or are you informed after decisions have been made?
- Perceived Value – How do stakeholders perceive your contributions? Are they aware of the impact your role has on achieving broader organisational goals?
Evaluating these elements provides a clearer understanding of where your relationships stand, giving you a basis for strategic actions to deepen connections where needed.
Understand the Human Need for Connection
Humans are inherently social beings who seek connection and positive relationships, even in professional settings.
Understanding two fundamental concepts can guide you as you aim to improve your stakeholder relationships:
- Firstly, reciprocity—people naturally respond positively to those who invest in them. Taking time to understand your stakeholders’ goals and offering genuine support builds goodwill and encourages a reciprocal investment in your initiatives.
- Secondly, trust—trust is the foundation of strong relationships. When stakeholders trust your intentions and expertise, they are more inclined to align with your strategic recommendations.
Recognising these concepts can enhance your approach to building meaningful, productive relationships, positioning you as a trusted advisor and partner in achieving common goals.
Strengthen Stakeholder Connections: Key Actions for you to Take Over the Next 30 Days
Starting the new (financial) year on a positive note with stakeholders begins with assessing and investing in your relationships.
Moving beyond a transactional approach to become a trusted advisor or confidante can unlock new levels of collaboration, alignment, and success.
Building strong rapport with stakeholders demands time, effort, and a proactive mindset, but the rewards—smoother collaboration, clearer communication, enhanced support for strategies, and greater influence on organisational priorities—make it well worth the investment.
To set the foundation for a positive relationship over the next 30 days, consider the following actions:
- Schedule a Check-in – Set up a non-transactional meeting with key stakeholders to discuss their goals, priorities, and any ways you can support them better this year.
- Demonstrate Proactivity – Share a brief update on your initial plans for the new financial year, highlighting how they align with stakeholder goals, and invite their input.
- Offer Tailored Support – Identify any areas where stakeholders may need assistance and offer solutions or resources, even if they aren’t directly tied to your immediate role.
By following these steps, you’ll demonstrate a commitment to understanding and supporting stakeholder priorities, laying the groundwork for a year of constructive and mutually beneficial collaboration.
As you prepare for the new calendar/financial year, remember: the effort you put in today will pave the way for smoother tomorrow.
Take the time now to invest in these connections and set the stage for a successful year ahead.
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