The "choose one of two" voluntary resignation event targeting new graduates at Xingyu Shares has triggered a huge public opinion crisis. This is a simple and crude business decision that has exposed the company's various deficiencies in employer brand management, ESG, and crisis management. In simple terms, it has revealed that Xingyu Shares lacks awareness in these areas.
Following the incident, Xingyu Shares first issued a public apology, which proved ineffective; yesterday, the chairman personally apologized at the performance meeting, which also had no effect. This matter itself is not a public relations issue, but it has indeed triggered a public relations crisis. Now, trying to solve the problem solely through public relations is impossible.
I'm offering suggestions to the "capitalists" of Xingyu Shares, which can be divided into three steps: short-term, medium-term, and long-term, let's see if they can be effective.
In the short term, first abandon the illusion that public relations can resolve the public opinion crisis. Do what you should do, but it's impossible to reverse the situation by relying on this method. Moreover, don't even think about relying on complaints and intimidation from relevant departments to suppress public opinion, as even if you are in the right, it will only trigger greater public opposition.
Secondly, the current remedy for the 107 graduating students is meaningless, and your current "either-or" approach should be revised to include an option to return to their original jobs.
Once again, an internal investigation is meaningless, you have lost public credibility after such a big incident; guidance from relevant government departments is also insufficient; you need an independent third party to review whether your ESG is compliant, and you should also proactively invite foreign clients like Mercedes-Benz and BMW to conduct inspections.
Finally, an apology is still needed, and the apology letter should not shift the blame, neither to HR nor to an unspecified management level. The chairman needs to issue a formal "self-criticism" to be of any use, and it would be best to express a heartfelt and tearful "reflection on past hardships and gratitude for present blessings, without forgetting the original intention". After withstanding another round of criticism, the matter can almost be considered closed.
In the medium term, first, add an independent ESG and employee rights committee or independent director at the board level to establish a complete ESG governance system, which is also a necessary requirement for Hong Kong IPOs.
Secondly, the human resources department is restructuring the campus recruitment system and labor contracts, providing legal and compliant guarantees for new graduates at the enterprise system and legal level, and rebuilding its employer brand image in universities.
Ultimately, it's a matter of the chairman's mindset, whether you view human resources, especially new graduates, as a cost or an investment, which determines the transformation of your human resource assessment and subsequently affects your employment model.
It is said that this should be done in the medium term, but that does not mean these changes should be delayed until the "medium term". Instead, every effort should be made to introduce reform measures as quickly as possible, which is the only way to maximize the elimination of some short-term negative public opinion.
In the long term, we need to work on three levels, targeting customers, investors, and universities. Simply put, we need to institutionalize and sustainably implement the mid-term goals, making them verifiable, while rebuilding our corporate brand, employer brand, and investor relations. I won't elaborate on the specific measures. Once these are achieved, public relations will be the icing on the cake.
Currently, Star Universe Shares should not spend money to have media and self-media write soft articles to whitewash itself, as this will invite criticism. It should not sue media outlets or delete articles and ban accounts, as this will escalate the situation. It should not say one thing and do another, as this will create hidden dangers for itself. It should not cover up problems again; instead, if there are any, it should proactively expose them, as covering up is also creating hidden dangers for itself.
After finishing writing, I realized I was too bold, as I was even offering advice to the opposite side of the general public; I was too rash, and if the "capitalists" were to read it, they would also have to view it negatively. I have a feeling that I'll probably end up pleasing neither side.
In fact, I just hope that Xingyu Shares can truly recognize the problem from this incident and fundamentally change itself. This is just a suggestion for Xingyu Shares and its employees to achieve a win-win situation in the future. It is also a reminder to those companies that have similar problems but have not yet been exposed, to promptly make changes and avoid following in the footsteps of Xingyu Shares.