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The year 2008 is a year will forever be etched in most Zimbabwean’s mind as it represents both positive and negative things. One of the negative issues were the long winding queues at banks due to cash shortages. Those that were there at the time are now having a sense of deja vu as the cash shortages have resurfaced.What is clear though to all and sundry is that the financial sector is of paramount value to every economy.

A lot of people are spending a lot of time in queues and in most cases banking officials have not been communicating their positions to their clients timeously resulting in a lot of frustration and in some instances anger targeted at some banks.

This shows that banks have failed to deploy or use their public relations effectively. Banks need to tighten their communication.

Just as it was found wanting in 2008 is has also been found wanting again. Why PR? This is because PR is the major component of communication and relationship management between organisations and their publics — in this case between banks and their myriad of clients.

PR and not marketing is critical in such circumstances. While banks have done well in marketing and communicating their programmes and brands, in times of crises they have virtually neglected their intuitive and intangible brands of image, reputation and altruism.

When marketing their programmes and brands, clients clutter and huddle for them but when crises hit banks the same clients are stranded.

They are not told what is happening and in most cases they have to rely on the media for information, with the banks saying virtually nothing.

And the big question is what are the PR practitioners, and not marketers, in these institutions doing?

PR brings in simple communication tabs or dynamics that mutually connects an organisation and its publics.

Banks have failed to inform their clients on what steps they are taking, they have failed to utilise digital electronic and social media communication channels to alert their clients of the on-going crisis.

What is clear is that banks’ information bureaus or offices only operate when selling their products but whittle or fold in defending their corporate identity, image and reputation through failure to satisfy their clients.

A survey of most banks in Harare has shown that the banks are content in letting their clients deal with their Automated Teller Machines.

It is only when the client inserts their card in the machine that they will know that there is no money.

The only other source of information is the security guard manning the ATM, who in most instances is ill equipped to answer all the questions and as a result bears the brunt of angry customers.

Unlike object communication channels, PR provides sufficient and convenient communication in advance which offers various options that ensure the convenience of clients.

For instance, if communicators in these banks had plans or strategies clients would not bump into new things, new codes, new withdrawal limits and new instructions without prior notice.

This brings us to the issue of crisis management. The current cash crisis shows that banks have no crisis management strategy in place.

The presence of a crisis management strategy ensures that clients and stakeholders are not surprised by what the banks face or what hits them at any time.

Banks’ institutional memories will remind them that this cash crisis is not new as vestiges of the crisis in 2008 still ring bells in their systems.

If their PR practitioners or communicators valued this they could have used the institutional memory to effect crisis management strategies employed then by their institutions.

It is clear they only uphold the brand memory, which one may guess prioritises business and profit.

But the institutional memory protects the business and its profits using the sprucing components of corporate identity, image and reputation.

Let us take this opportunity, as Zimbabweans, to applaud the Reserve Bank of Zimbabwe (RBZ) and the Bankers Association of Zimbabwe (BAZ) for bailing out the banks.

On several occasions the RBZ and BAZ have issued public statements to explain the cash crisis and what is being done to resolve it.

RBZ and BAZ intervention shows that banks’ communicators are dependent on third-part PR techniques which normally take away the weight from the affected institutions.

While third-part PR is good it needs to be supportive to the banks’ PR or communication strategies and not for the institutions to solely rely on RBZ’s intervention.

RBZ’s intervention is only important in assuring the nation of the availability of funds but certainly not a substitute of the banks’ day-to-day PR communication strategies.

It is important to note that unless our corporate world, including the financial sector, incorporates the strategic fabric of PR it will always be difficult to conquer or overcome such and other future crises.

We have to move away from fire-fighting, knee-jerk or reaction tactics to crises and come up with formidable strategies to navigate these organisational dynamic earthquakes in business.

It is time the Zimbabwean corporate world takes a stand and be passionate about PR and uses it for the productive and strategic benefit of our nation and its economic future.

This article has been prepared by the Zimbabwe Institute of Public Relations. For feedback, comments and inquiries on the work of ZIPR, please email [email protected].