Making sense of being an insider for Centrica employees

Centrica Company Secretariat asked Stitch to help them explain to employees what it means to be an insider, why it’s so important. Stitch turned the communication process on its head and produced;

When it comes to internal communications, projects don’t get more challenging than the one set by Centrica. Following an internal review they identified that they needed help with their insider communications.

An insider is someone who by the very nature of their job has access to information about a company which if it were made public could have a negative impact on the company reputation and share price.

Sounds simple enough. But as in most companies, the insider management process and communications was far from it. When a person was added to the Centrica insider list, they’d get a copy of the share dealing code sent by email. They would have to request clearance to trade by finding a form on the intranet, downloading and printing it, completing, signing, scanning and sending it to Secretariat where the work then began. Processes were manual and time consuming, certainly not an enjoyable internal communications experience.

Using our Stitch communications know-how we went through the stack of documents Centrica have to support compliance. We agreed we’d turn everything upside down and focus on employees and insiders, what do they actually need?

We then designed, wrote and created a fully responsive internal communications website; a plain English translation of the legal regulations for insiders and business owners. The site helps insiders identify price sensitive information and gives a clear idea of when insiders can and can’t trade using simple scenarios.

We also built an online clearance request solution, so insiders can request clearance to trade without anything more than a mobile phone

Every step of the journey is recorded and the insider receives emails to confirm where they are along the way. The system even triggers automatic emails to Centrica’s share scheme administrators in the UK and US, so they know when Centrica have given approval for certain transactions and that it’s ok to go ahead at their end.

Centrica Company Secretariat are thrilled that everyone’s taking some responsibility for confidentiality and corporate compliance, insiders are just grateful we’ve made things so simple for them.

This has been a project which clearly shows the impact an employee centred approach can have to the success of an internal communication campaign, no matter what the subject!

Corporate governance, insider dealing, clearance to deal, Market Abuse Regulations… All terms that don’t mean much to your average employee.

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Thinking about the insider’s journey rather than being driven by Secretariat’s processes has absolutely been the right way to deliver what I think is a best-in-class solution.
Nicola Carroll
Head of Company Secretariat Services, Centrica