The best way to develop is to get out of your comfort zone
It’s clear that today’s IRO is often already an indispensable company resource, but what final thoughts do our experts have to share on how they can elevate their career even further?
‘IR people often understand the pulse of the company more than almost any other function of the business,’ comments Rathbones’ Shelly Patel. ‘They live perfectly in between the internal and external and are privy to the views and direction of a company from a senior management and board perspective, while understanding deeply the expectations from investors.
‘Use that positioning well – not everyone will be as fortunate as you to be that source of knowledge, nuance and guidance on messaging, positioning and strategic direction to management so that it lands in the best possible way with investors.’
‘In my view, its vital (and interesting!) to constantly learn and develop your knowledge about IR, the macro environment, the industry or sector you’re working in and the company you’re working for,’ adds Plus500’s Rob Gurner.
‘So I think it’s really important for IR professionals to never be afraid to take on new challenges, work streams and activities. It might seem scary at the time and you may be out of your comfort zone – but that’s the best way to learn and develop.’
‘Build your personal brand: know the company better than anyone, be your company’s oracle. This way, you develop credibility in the company and in the market,’ concludes Craig Marks of Ipsen. ‘You’ve got to network to get work, but you can only do this with credibility. Go beyond expectations: innovate, be proactive, try – and enjoy.’
‘In one of my roles, the UK-listed company I worked for was being acquired by a business listed in another territory so it was clear the IR role would significantly change in scope, mandate and form. Fortunately, I had built good relationships with the senior leaders within the incumbent business so I offered to assist and support the merged business with any ‘non-IR’ activity they felt was required during the takeover transition.
‘Subsequently, I was tasked with leading a number of important tasks and projects away from the world of IR, including running the post-merger office, delivering major commercial projects and managing a number of internal communication events for the newly merged business.
‘There are two important aspects I learned from the experience. First, building internal relationships is vital. The starting point for engagement here is to always ensure your colleagues understand the basics of IR – for example, why we have a share price, what drives valuation, what investors think of your company. Maintaining a consistent internal dialogue here is important and will help you whenever you need something back from your colleagues – for example, information and data around an investor event.
‘Second, skills learned in an IR role are very transferrable into other areas, including corporate development, different channels of communications and a number of commercial and operational areas. So if you build those internal relationships and highlight the key facets of your IR role, it will give you the opportunity to become involved with non-IR activity and therefore enable you to be more embedded in your organization, which is always a fascinating and valuable learning experience. This will also give you more credibility when speaking to investors, as you’ll have direct experience of perhaps commercial or operational activity within the business.’
‘I remember when I started in IR. I was working for a fantastic FTSE 250 consumer business, and I’d started up the in-house IR function around a year after flotation. I thought that, to match the ambitions of the business, we should have a FTSE 100 IR program, which included IR roadshows right across the usual and more far-flung regions in North America and Europe.
‘I really wore out the shoe leather. I remember being challenged by the chairman of the board, as well as an old colleague who’d just gone into IR, on why such a program was needed, until private equity sold its large stake overnight, the day the company went ex-dividend.
‘All of the demand created by the program was unleashed, meaning an immaterial change in the valuation and a very good-quality share register. It took a while, but recognition eventually came. Proactivity is a key foundation in IR.’
