You probably wouldn’t think that the relationship game is an integral part of drafting good disclosure. But it is.
Without solid relationships, people you rely upon – both inside the company and outside – might not be comfortable bringing something to your attention that you need to know. Or they might be afraid to ask the “dumb” questions that aren’t so dumb and could lead to a discovery of something that is important to know.
These days, there’s a tendency to rely on email for disclosure lawyers to communicate with the accountants, the business people, all the people that you rely on to provide fodder for disclosure and to review drafts.
By picking up the phone – or meeting in-person – you’re bound to learn things that underpin disclosures that help you make them better. Or they could lead to conversations that lead you to a completely different direction in what you choose to disclose. Relying solely on email is a dangerous practice.
Plus by having those phone calls and in-person meetings, they come to learn to trust you because you have a more meaningful relationship now. They are more prone to raise something that they otherwise might have been hesitant to do. Putting something in writing – in an email – scares off people too. And rightfully so in some cases.
The virtual workplace can make your job that much harder. Those hallway conversations are critical to developing relationships. Having the social time that makes life more rewarding anyway. But it provides real value to the company in that there is a better corporate culture, one in which people know each other better and trust each other more.
The in-person workplace also helps corporate culture by making it more likely that a company can pull off a “do the right thing” culture effectively. There is less incentive to raise your hand when you spot a potential issue when you feel disconnected from the workplace. When there isn’t trust among colleague. A blog for another day perhaps…thanks to Ginny Fogg for her wisdom on this one!
