On the economic side, the month of February closed with the announcement of a 6.1% rise in year-on-year inflation. After another previous increase in the month of January, the increase in prices has become a fundamental problem for the Spanish economy. The Government, which had lowered the tax on some foods to alleviate this situation, had anticipated that inflation would begin to fall this year.

Added to this data was the announcement that one of the main Spanish multinationals, Ferrovial, has decided to move its headquarters to the Netherlands. Although the company will maintain its activity in Spain and will continue to be listed on the Spanish Stock Market, this measure has a negative symbolic value for the Government since it calls into question its business friendly policy.

In the political sphere, a case of corruption to which a MP from the main government party, the Socialist Party, appears linked, weakens the image of a Government that had made the fight against corruption a fundamental flag of its political action. Besides this, the serious errors in the application of a crucial law, known in Spanish as “Sólo sí es sí”, has turned part of women and the feminist movement against the Government.

As a consequence of all this, the main opposition party, the center-right Popular Party, has increased its lead in the polls. The popularity of the leader of the Popular Party, Alberto Núñez Feijóo, already surpasses that of the Prime Minister, Pedro Sánchez.

La entrada A difficult start of the year se publicó primero en Estudio de Comunicación.

Six out of ten Spaniards, according to a survey carried out this week by the prestigious polling firm Metroscopia, define the economic situation in Spain as “bad”. That includes 86% of voters for the conservative Popular Party, but also 42% of voters for the Socialist Party and even 30% of voters for the leftist Podemos, the two parties that make up the Government coalition.

Nevertheless, that pessimism about the economy does not lead Spaniards towards radicalism. 40% of Spaniards describe their attitude towards the country’s problems as “calm”, while only 16% express “anger” and only 7% confess “fear”.

55% of the population understands that Spain is not so bad if compared to the situation in other similar countries, and 80% assume that various unforeseen events are taking place in the world that should be watched out for.

It can therefore be deduced from these data that Spain is today a moderate country, aware of the economic problems it is going through, but willing to approach them prudently and calmly. It can even be said that Spanish society expresses itself in this electoral year with more prudence than its political class.

La entrada A pessimistic but moderate country se publicó primero en Estudio de Comunicación.

January 25th, 2023

It is not easy to outperform others in this globalized and competitive world. Companies and countries have to convince clients and investors that their products are better than those of their competitors or that their track record deserves the highest credibility in order to getting them into their capital.

A global investor -of any kind (sovereign wealth fund, pension fund, family office, equity fund, bank, or any other kind of entity)- looks at the world as a whole, at all countries and all companies, to decide where to put his money. Ultimately, it ends up choosing some of them and ruling out others.

What is clear is that you do not choose what you do not trust, and you do not trust what you do not know. Therefore, the first thing a country or a company has to do is to make itself known, to inform about its reality and its plans for the future with transparency, with the aim of generating confidence and being selected among the many options that exist in the market. If we ask ourselves why an investor prefers Spain and not Italy, Portugal or the United Kingdom to invest in, there are some aspects that are key, perhaps obvious, but that are worth remembering.

The first thing an investor looks for is returns on the investment or expectations of earning money.  Regular dividends that reward those who trust in a company are also important. The Spanish stock exchange is one of the markets in the world that gave the highest dividend yield in 2022. Despite the crisis and the problems of the past year, listed companies paid back their shareholders with a 3.9% dividend yield. This means a breathtaking 29% rise versus the previous year, or almost 24 billion euros. If we compare this with other countries such as the United States (1.6%), France (2.8%) or Germany (3.5%), we come out on top.

Two factors that have negatively affected the world economy, such as the increases in interest rates and energy prices have instead been beneficial for Spanish banks and energy companies, two sectors that weigh heavily on our stock market and that have contributed to a better performance than that of other markets.

Spain’s macroeconomic figures were also comparatively good. GDP and inflation data in Spain outperformed those of other neighboring countries. We have very competitive figures with GDP growth at 5% and inflation at 5.8%. The Eurozone average could close the year with a GDP growth of around 3% and inflation at 9.2%, with countries such as Italy at 12.3%, Germany at 9.6% and Portugal at 9.8%.

In short, Spain demonstrated last year that it is a “resilient” (not my favorite word, but it is politically correct) economy and that it has reacted to the harsh crisis better than other markets.

We possess clear strengths for 2023. Our great economic engine, tourism, which after suffering the consequences of the pandemic last year, has once again been a lifesaver and will once again bring us much joy. Certainly. In 2022 we were already on the verge of surpassing the pre-pandemic figures, and the improvement of tourism consumption is positive.

The Next Generation funds from Europe spilled into all the countries of the European Union, in spite of our management problems to ensure that they reach the real economy, will sooner or later spread to Spain’s businesses.

Sectors such as energy will bring substantial investments to our country in the coming months. Cepsa, Maersk and ACCIONA/ENVISION have announced investments of 5, 10, and 2.5 billion euros, respectively.

There is of course a long way to go, because there are issues that are decisive for investors and that our country must continue to improve, such as market unity, less red tape, the slow place of the justice system, the larger size of our companies, the firm commitment to reindustrialization, etc. Nevertheless, we can be optimistic.

On January 11 and 12, Spain Investors Day was held in Madrid, a forum that Estudio de Comunicación has been promoting for 13 years with the collaboration of partners such as BNP Paribas, Endesa, Deloitte, Cecabank, BME, PRISA and AON, and which brings together investors from more than 12 countries in Spain to learn first-hand about the plans of the Government and listed companies. It has been a great opportunity to explain our strengths, inform about the reality and future plans, and improve knowledge and confidence. A new edition that we have faced with the caution demanded by the economic situation, very conditioned by the war in Ukraine, but with the conviction that Spain is a powerful investment destination of which we can be proud and that we must value.

La entrada Spain, a powerful investment destination se publicó primero en Estudio de Comunicación.

Last August, Javier Gómez de Liaño, a renowned Spanish lawyer, formerly a very important judge, wrote an article in Spain’s Tier 1 online media El Confidencial highlighting one of the major problems the Spanish justice system suffers from: its slowness. He stressed that “a slow justice is such a serious deficiency that it discredits the entire judicial system.” 

In some cases, those who are immerse in court processes that last for years and years without being solved, are exposed to parallel media trials. For an individual or a legal entity, being subject of permanent negative media coverage based on court proceedings raises concerns about its integrity, – businessmen, CEOs, lawyers, politicians… – and the good practices of a company. This shadow of suspicion covers the presumption of innocence and creates a constant reputational damage that is aggravated with every published article. 

In Spain, legal processes can take five, eight, ten years… Throughout this time, every milestone of the process serves as an excuse for the Media to publish information. A prosecutor’s report, a judge’s order, statements by the accusation or defendant… These documents are of journalistic relevance, and many get published. Therefore, there is a clear need to manage that information. It is a crisis communication due to an extraordinary situation because of allegedly criminal acts or irregularities of many different kinds. A proper defence for someone under trial requires of lawyers and expert communications advisors to guarantee the defendant its right to have a proper defence. Judges, lawyers, prosecutors, jury… they all read newspapers and watch TV. News do not dictate jurisprudence, but they have the capacity to influence judicial decisions.  

Juan Francés, Partner 

@JuanAFrances

La entrada The symbiotic relation between the legal and media defenses se publicó primero en Estudio de Comunicación.

The first electoral date is May 28, 2023. On that day, elections will be held in all large and small cities, as well as in 12 of the 17 Autonomous Communities that exist in Spain. While in Madrid the polls predict a clear victory for the conservative Popular Party, in Spain’s second city, Barcelona, ​​both the left and the nationalists have a chance of victory.

Other important cities in the country, as well as prominent autonomous communities, can change their political color in these elections, which, in turn, will have a great influence in the face of subsequent national elections.

The exact date for holding the national elections is yet to be determined. It is up to the Government to do it. Most likely, the elections will be called at the end of December, coinciding with the end of the semester of the Spanish presidency of the European Union.

Although the PP is leading the polls, the outcome of these elections is still highly uncertain. Difficulties can be expected in achieving a stable majority to form a Government.

Antonio Caño, Partner

@Antonio_Cano_

La entrada Spain is approaching an election year se publicó primero en Estudio de Comunicación.

We are currently experiencing a situation in which it is becoming more and more difficult to foresee legislative initiatives taken at various administrative levels as well as to calculate the impact that such measures will have on both the economy at large and on business performance.

In Spain, this uncertainty is aggravated by a political calendar that includes all-important regional and local elections in May 2023 and general elections that will result in a new government by the end of that same year or in the first days of 2024.

This scenario makes it more advisable than ever for companies to have the right strategy in place to navigate in a highly bewildering environment. Such strategy must be both clear and flexible, able to respond appropriately to the current challenges while anticipating other future ones that lie around the corner.

The right Institutional Relations strategy will help companies to better understand the difficult context in which they have to work, will allow them to know the political and social actors that are or may be critical for the development of their agenda and will help them to largely anticipate the legislative decisions they may encounter. In short, a suitable Institutional Relations strategy is essential to find light amid the darkness that dominates the current geopolitical circumstances.

However, for this strategy to be effective, in addition to an accurate analysis of the situation and its main players, it must be able to pinpoint the actual actions required. It is not enough to understand the perimeter in which a company operates, it is also necessary to be able to identify the particular needs of each company in order to find the most appropriate field of action. This is often a long and painstaking task that requires a very precise identification of the environment and a deep knowledge of the company. But is the only way in which we will be able to provide an adequate Institutional Relations consultancy.

Aware of this new reality, at Estudio de Comunicación we have decided to reinforce this area with the purpose of providing our clients with a service that is more in line with current needs.

La entrada The importance of having an Institutional Relations strategy in the current geopolitical environment se publicó primero en Estudio de Comunicación.

La sostenibilidad está en auge dentro de los discursos corporativos. Cabe debatir cuánto de este auge se debe a que las propias compañías se han dado cuenta de la necesidad de apoyar el progreso de la sociedad, combatir sus desigualdades y afrontar la emergencia climática; si por contra es una respuesta a la demanda de los consumidores, cada vez más concienciados; o cuánto de ello es un ejercicio de marketing, que apoye la diferenciación entre marcas. Independientemente de que se trate de una o de una mezcla de las tres, las compañías han comenzado a integrar la sostenibilidad dentro de sus estrategias – algunas condicionando su negocio, otras de forma mucho más perimetral – y esgrimen sus argumentos y narrativas en base a las iniciativas y progresos que están llevando a cabo.

Se hacen grandes esfuerzos en comunicar al exterior, a accionistas y a consumidores, lo que hacemos, pero hay un paso previo que muchas compañías pasan por alto y es quizá la prueba de fuego más importante: ¿entienden nuestros empleados nuestra estrategia de sostenibilidad? ¿Es creíble nuestro discurso y nuestra estrategia para aquellos con los que construimos nuestra propuesta y los que nos ayudan a realizar dichas acciones?

Bajo mi punto de vista existen tres grandes retos a los que nos enfrentamos en una narrativa de sostenibilidad: diferenciación, autenticidad y coparticipación. Vamos uno a uno:

Diferenciación. La general proliferación de iniciativas sostenibles en muchas empresas conlleva el problema asociado de ser capaz de explicar de forma eficaz qué es lo que estamos haciendo. Diferenciarse de los demás en un concepto difuso, que todo sea dicho, va mucho más allá del medioambiente y que la gran mayoría de las personas confunde fácilmente.

Adicionalmente, la sociedad -triste es decirlo- se ha aburrido de discursos idénticos sobre los planes de sostenibilidad de las organizaciones. Ya sea a través de la rígida estructura temática que define el marco de los criterios ASG (Ambiental, Social, Gobierno Corporativo) o la necesaria estandarización que originan los procesos de certificación, el cumplimiento normativo o los ODS, los discursos se han homogeneizado y los hacen parecer proclamas de “corta y pega”, intercambiables entre unas empresas y otras.

Autenticidad​. Esta reflexión, de calado, ahonda en hasta qué punto nos creemos nuestro propio discurso, hasta qué grado es parte esencial de nuestro negocio. Si antes teníamos a la RSC como una actividad periférica al core del negocio de una empresa, la sostenibilidad debe intentar introducirse en el centro, estar en el corazón de la actividad. Es necesaria una reflexión estratégica que la vincule de forma estrecha y convincente con la actividad más esencial y el modelo de negocio de cada organización. ​

Coparticipación​. La sostenibilidad es un acto conjunto y una responsabilidad de todos y, como tal, es necesario que todos los actores se sientan incluidos. La mayoría de las narrativas de sostenibilidad son declaraciones de intenciones, plagadas de descripciones de acciones y métricas que parecen ocurrir sin que la participación de nuestros públicos clave sea necesaria o relevante. Les informamos, rendimos cuentas, tratamos de ganar la aceptación de clientes y empleados, pero no les hacemos sitio. Son audiencia, no actores.

¿Cómo ser capaces de vencer, por tanto, estos retos a la vez que conseguimos superar los conceptos abstractos y discursos etéreos en la mente de nuestros empleados? Voy a dar cinco claves básicas que nos pueden ayudar a ello:

En primer lugar, tratando de acotar y clarificar el significado de sostenibilidad. Y por ello me refiero a ser capaces de hacer entender al empleado qué significa y cómo entiende nuestra compañía un concepto abstracto como es la sostenibilidad.

En segundo, definir un propósito​. Dotar de una visión al discurso para tener una meta y objetivos claros que todos compartamos.

En tercer lugar, establecer nuestra diferenciación​. Destacando nuestra estrategia, no solo cómo lo trabajamos, sino también qué nos hace diferentes. Hasta dónde llegan nuestros límites, cómo lo abordamos y dónde podemos tener un mayor impacto.

En cuarto, convertirlo en tangible​. Acercar el discurso al empleado de una forma creíble, a través de acciones y medidas que pueda observar en su día a día, siendo coherente con la realidad que vive​.

Por último, hacer al empleado partícipe. Convirtiéndolo en protagonista, con visibilidad, participación y reconocimiento​.

@pedrosotoft

La entrada Sostenibilidad de empresa y empleados  se publicó primero en Estudio de Comunicación.

By Benito Berceruelo, Founding Partner and CEO of  Estudio de Comunicación

We have made little progress on the SDGs field. For those who are new to the subject, this acronym stands for Sustainable Development Goals, currently a global challenge that will shape our fate: either we are all saved, or no one is. In 2015, under the umbrella of the United Nations, 193 countries -Spain included- set some ambitious goals for 2030, but not enough. The SDGs establish a clear target for humanity: keep growing but doing so responsibly, taking care of the environment. In other words, a firm commitment to fight against climate change. They seek to improve the society we live in, in terms of education, gender and decent work, as well as paying attention to political considerations such as peace (what better time than this to vindicate it!) or justice. 

The pandemic and the war have slowed down most notably the advancement of the SDGs. They have mainly affected the underdeveloped countries and those vulnerable to difficulties.  

The annual report that evaluates the progression on this hard task on a country basis has just been published with very little surprises. The key findings showed that Finland, Denmark or Sweden are once again the smartest in class, showing the biggest advances. On the contrary, South Sudan, Central African Republic and Chad are the countries lagging furthest behind. Spain is doing better, but so slightly that we should be blushing. We have gone from 79.5 points to 79.9. 

This job is harder for poor countries because they are chasing after other vital priorities, such as ending famine, fighting disease, or educating their younger generations. The developed countries can work harder to meet their targets and should not forget that they are responsible for this situation and that their trade policies, which aim at lower costs and higher globalization, affect and condition the development of the poorest countries. 

Time goes by and we must be self-critical. Companies, or a big chunk of them, say more than they do, or do less than what they could or should. Stakeholders and investors, on the other hand, are not demanding enough with the managers for them to really commit. They should assume their role as social leaders of change and not just keep the promise of paying dividends.  

Moreover, consumers should stop looking the other way when buying, for example, very cheap t-shirts made in places like China, under deplorable working conditions but in line with market prices. Recent studies on the matter show that consumers generally agree with the SDGs, but we are not as predisposed to make the efforts needed to achieve them.  

And politicians, what can we say about them? They usually sign long term deals when they are uncapable of ruling without thinking about the next election and tend to leave unsolved the problems that really affect humanity. 

In Spain, a government that is supposed to be progressive, with ministries very on trend like the so called of “ecological transition”, has barely progressed, but of course, our President often wears the SDGs pin. Apologies are no longer valid. We must all apologize, especially our leaders, but they often give the responsibility to others.  

In this huge global challenge of sustainable development, Communication, in capital letters, has a lot to offer both to governments and companies. To keep moving forward and to do it in a faster and more efficient way, we must disclose better and globally our goals, motivate the world’s population to achieve them and make everyone aware that each of us is important and has something to contribute. 

Communication must be a useful tool to pressure administrations and companies, performing as ‘Jiminy Cricket’. Only then, the powerful ones, those who can and should contribute the most, would feel the citizens’ breath close to them. 

We, as communication professionals, in the broadest sense of the word -journalists, communicators, publicists… must do our part in this project. The world in which our children will live is at stake. All of us, in our daily responsibilities, must collaborate to create this collective awareness.  

We set ourselves a 15-year term to meet our target. Seven have already gone by and the road ahead is very rough (full of interests) and challenging. It will be easier to achieve now what we set out to achieve seven years ago with a good systematic and continuous Communication. 

La entrada SDGs: NO MORE APOLOGIES, PLEASE se publicó primero en Estudio de Comunicación.

ESTUDIO DE COMUNICACIÓN, the leading Corporate Communications, Public Affairs and PR Intelligence firm in Spain, has been ranked as Spain’s third consultancy firm with the best reputation in 2022, according to Corporate Reputation Business Monitor MERCO. It only stands behind Accenture and Indra, having climbed two positions this year.

Within Spain’s PA and PR sector, ESTUDIO DE COMUNICACIÓN has ranked first, becoming the leading consulting firm with the best corporate reputation. ESTUDIO DE COMUNICACIÓN is focused on helping its international and national clients build trusted relationships with its stakeholders in the Spanish market. Throughout our close to 40-year experience in the local market, we have helped clients navigate reputational risks, critical for organizations operating in rapidly evolving markets. Our focus on the client, local industry intelligence and our passion to provide a seamless service positions our firm as a trusted advisor, particularly in business-critical situations.

The ‘best-corporate-reputation’ ranking was announced earlier this Summer with the publication of MERCO’s XXII edition of ‘MERCO EMPRESAS Y LÍDERES’ ranking, the benchmark corporate monitor in Spain and Latin America. It is the first audited monitor for corporate reputation in the world subject to an independent review by KPMG.

The MERCO EMPRESAS Y LÍDERES 2022 was presented online July 6^th, 2022, when the top 100 companies and top 100 leaders with the best reputation were made public. MERCO, obtains this ranking after an exhaustive and detailed analysis of over 46,368 surveys, 7 evaluations and 25 sources of information. Among those surveyed were top executives, including CEOs, members of government, social media managers, financial analysts, Economic professors, SME executives, participants in Merco Talento, financial journalists and other Spanish opinion leaders.

Mr. Benito Berceruelo, CEO of ESTUDIO DE COMUNICACIÓN, says: “We are extremely proud to be among the top three consulting firms with the best corporate reputation in Spain, alongside companies such as Accenture, Indra, McKinsey, or Boston Consulting Group. Yet our greatest satisfaction is to be able to partner with over 2,500 clients who have trusted our firm for almost 40 years to give them PR and PA intelligence in Spain and help them communicate with their different target audiences. Thanks to the trust of our clients and the talent of our professionals, we have obtained this recognition, which encourages us to continue innovating in communication and providing a service of excellence in the Spanish market”.

Mr. José María San Segundo, Director of MERCO, explains that “this edition shows key market and industry changes, both in organizations and their management teams. Companies have made progress in the reputation area, while ESG responsibility and internationalization continue to be the main weaknesses. At a business leaders’ level, communication deficits continue to be a drag on the reputational profile”,

Attached is the full link to the study (in Spanish): PDF

La entrada Estudio de Comunicación, ranks third ‘best-corporate-reputation’ consultancy firm in Spain se publicó primero en Estudio de Comunicación.

Graduated in Journalism from Universidad Complutense de Madrid, Antonio Caño began his career as journalist in the international desk of the Spanish news agency Agencia Efe. Caño has spent most of his career at El País, the leading newspaper in Spain, where he held the position of Editor in Chief between 2014 and 2018. During that period, he led a successful digital transformation that took the newspaper to the global leadership of the Spanish media. Caño also launched the America editions of El País, including its own edition in Brazil.

With a long dedication to the international affairs, he has covered events that have marked history throughout his journalistic career, such as the wars in the Persian Gulf, the Falklands, Chad and El Salvador, the revolts against Augusto Pinochet in Chile, the fall of Sandinismo in Nicaragua, as well as four presidential elections in the United States, between many more relevant stories. He has interviewed numerous presidents, heads of state and personalities.

Antonio Caño, Partner of Estudio de Comunicación, said: “After working as a journalist for more than 40 years in various roles, I am thrilled at the challenge of observing communication and the relationship with institutions from another perspective. It is an honour to put the experience acquired during that time, including my years as Editor in Chief of El País, at the service of Estudio de Comunicación, one of the most reputable companies in its sector. I would like to thank its partners for the trust they have placed in me, and I am confident that I can live up to the expectations of its excellent staff as the firm expands and opens up to new fields of communication”.

Benito Berceruelo, CEO of Estudio de Comunicación, said: “As a communications consultancy, we provide our clients with experience and know-how so that they can communicate and relate effectively with their audiences. I am sure that Antonio Caño’s insight will be very valuable for our clients and will allow them to better analyse the economic and political environment, to obtain more detailed knowledge of key markets such as those of Spain and North America, as well as offer management experience and contacts at the highest level. Antonio will help us continue innovating in communication and anticipating the needs of the companies and brands that place their trust on Estudio de Comunicación”.

ABOUT ESTUDIO DE COMUNICACIÓN

ESTUDIO DE COMUNICACIÓN is a leading company in business communications in Spanish and Portuguese. Founded in 1983, it has a track record of 39 years in which it has worked for over 2,700 clients, helping them to communicate effectively with their different target audiences. The Firm is made up of more than 150 professionals, and has its own offices in Spain, Argentina, Chile, Mexico, and Portugal. It also has agreements with best friends that allow it to provide services in the main markets around the world. Estudio de Comunicación is among the top three consulting firm with the best corporate reputation in Spain, and the top one in the Communications sector, according to the 2021 edition of MERCO Empresas

La entrada Antonio Caño, new Partner for the Public Affairs Practice se publicó primero en Estudio de Comunicación.