Are you ready for the season?
The Annual Reporting season of course.
The Reporting season is gearing up and well under way for most December year-ends. Early planning and engagement will be paying off at this stage.
Many things are critical to a successful annual report process – let’s look at a few here. If you are responsible for producing your company’s Annual Report and don’t have these in place and are publishing in February or March then turn your attention to them immediately. This will make your life and the life of the agency you are working with a hundred times less stressful over the coming months.
1. Set up a steering committee
Get the heads of department that are contributing to the annual report on to this committee. Meet every two weeks now and in the New Year meet weekly. Get dates in diaries. Use the FRC’s ‘fair, balanced and understandable’ requirement to engage the committee members.
2. Make a straw man outline of content
A simple pagination to start with showing the flow of information. In theory, you already have this signed off by the CEO and Chairman. Now expand it and expand it. Detail exactly what is going where, who is responsible and when they will deliver.
3. Use technology to drive efficiencies
Decide which software you are going to use to help with making amendments. Remote publishing empowers you to make amends, from your desktop, to the text and get it right first time. If you don’t have the time, allow budget for your agency to make amends and establish the process for collating amends, reviewing and approving.
4. Embrace the challenge
Remember there is no other document like the Annual Report. It is a permanent public record and is signed by the Board. See it as an opportunity to engage widely and to understand your business. Produce a clear and concise piece of communication – this is a record of your company and its ambitions at a specific point in time – it will be referred back to again and again. Don’t under-estimate its importance.
Now, get set……go!
And good luck!