How to be Prepared for Public Testimony
[Updated: John Stumpf announced his immediate resignation on October 12, 2016, as CEO and chairman of the board. Based on his congressional testimony I break down below, I’m surprised this outcome took this long.]
In case you missed it, Wells Fargo CEO John Stumpf got publicly eviscerated by Senator Elizabeth Warren in a recent congressional hearing about Wells Fargo employees setting up accounts without customer knowledge. What struck me about watching Mr. Stumpf’s testimony was how he seemed so utterly unprepared for the situation. Senator Warren’s questioning always makes for good political theater so clearly he must of known what was coming. Well, clearly not as commentators on CNBC and Fortune (among others) quickly pointed out.
Here are some lessons we can all learn from Mr. Stumpf’s abysmal display, and how you (or prepping executives) can be better prepared for speaking in public on contentious issues.
1) Answer the question!
There is the artful dodge and then there is the trying to stonewall by ignoring the questioner. When Senator Warren asks you what is your salary, there is no need to dance around the answer. Stonewalling may work in a short segment media format (e.g. being interviewed for a 90-second news story) but it will absolutely backfire when sitting down for a one-hour congressional testimony, news conference, or other long-form media format.
2) Prepare mock questions and answers
You or your communications team should always prepare a series of question and answers (Q&A’s) beforehand that you anticipate may be asked. I know that Wells Fargo has a great communications team so surely Mr. Stumpf must have been briefed before the testimony. Doing this prep will allow you the time to carefully research and think about the answers to be given. This is especially important when their are potential legal issues associated with your presentation.
3) Conduct research the interview format being used and who is doing the interviewing
You need to have a good understanding of how you will be interviewed. Will you be sitting or standing? Will you have access to your notes? Is there a microphone? Can you use visuals? It also helps to understand the style of the interviewer. Are they confrontational like Senator Warren? Do they typically have a good understanding of the issues or not? Again, figuring all this out is usually the job of your communications team or you can hire a consultant like myself to assist you in your preparation.
4) Practice beforehand with a “murder board”
When I used to prep my executives for contentious public hearings or media interviews, we’d put them through a “murder board” where myself or another team member would play the part of the hostile questioner. We’d grill the executives using the Q&As we had already prepared. We’d keep doing it until the executive was comfortable in their delivery for how the answers were given. Sometimes it helps to record the practice so you can observe how the executive will come across on television.
5) Take media and public speaking training
Practice, practice, practice! There is no substitute for continually honing up on your public speaking or media Q&A skills. Executives and any employee that might speak publicly should periodically have training so that they are better prepared. After all, it’s hard to have time for practice in the middle of a crisis.
There you have it. A few lessons on how to not be the next John Stumpf. Please watch the full 17-minute video of his testimony. It’s painful and humorous at the same time. Check back later this week as I will break down the debate performances of Hillary Clinton and Donald Trump.
Eco-Econ Future 