The Lifelong Learning Revolution: Why IROs Can't Afford to Stand Still
Dear IR Professional,
If you're an Investor Relations professional, you know the drill. You walk into the office with a plan, a to-do list neatly organized in your head, and then, the market moves, a new research report drops, a geopolitical event hits, or your CFO needs a last-minute analysis for a board meeting. Your day gets blown up. Every. Single. Time. The dynamic, fast-shifting nature of our job is what makes it thrilling, but it also creates a unique challenge: making the time—and the budget—for continuous learning.
I feel you. Trying to justify two days for a training course when you are already behind on the quarter's reporting feels impossible. And for a lot of IR departments that may not be large or run with lean resources, the cost of a seminar, or a certification program is a luxury that the company cannot afford. However, the one thing I have learned over the years is that continuing education is not a luxury, it is the cornerstone of our professional longevity and effectiveness - without it, we risk being irrelevant.
The Newcomer's Dilemma: What Exactly Do I Do All Day?
I will always remember the early days of my career. With some finance experience behind me, I ventured into the field of Investor Relations with a somewhat general understanding of "what do they do all day?" From the outside looking in, I thought the job was simple: speak with investors. But as any IRO will tell you, that is the tip of the iceberg. You are fundamentally a finance professional, a communications expert, a data analyst, a strategic adviser and, in some small way, therapist.
For the entry level IRO, the breadth of knowledge and skills required is overwhelming. How do you learn how to build a comprehensive investor targeting list, do a full peer analysis, comprehend the finer points of a new accounting standard, and then tell the story for management that is legally sufficient and strategically sound? You don't master it all on day one. An in-person training course or online program will provide the map, and outline the best practices, and give you an overview of the entire role. It fills in the gaps that on-the-job training does not always provide. Without it, new IROs can become burdened with having to play catch-up, often without even understanding their practice and the "why" behind their learning.
The Veteran's Trap: I've Seen It All Before, Right?
And now, for the rest of us who've been around a while. It's very easy to get ensnared in the "I'm a veteran, I know what I'm doing" trap. You've been through bull markets and bear markets, you've been in crises, you've taken part in the Q&A prep for earnings calls. You feel pretty bulletproof. And then...rattle, rattle.
I remember back a few years when the discussions about digitalization and AI were gaining real momentum. In the beginning, it felt like people were talking about buzzwords. But, it became Real. AI for sentiment analysis, automated reporting solutions, highly targeted ways of sharing reports with shareholders and potential shareholders, are changing the way we "work". We are in a new phase of conversation with investors about new ideas that we have just started thinking about on the frontiers of blockchain and crypto use, ESG regulation, and new corporate governance structures.
The question is, are we prepared for these discussions? Do we know whether these technologies and trends are "friends and foes"? I had to go back to school - so to speak - to learn these new topics. I also realize that I needed to get a better grasp of new platforms and technologies. It is not about being an expert coder; it is about knowing enough, so you can advise management on how these trends can affect our business and how we should be talking about them in the marketplace. Education for us "old-timers" in the profession does not mean taking the fundamentals; it is about keeping current, and continuing to be effective in our role as strategic advisors.
Making Time and Money: The Practical Reality
The primary barriers to continuing education are almost always time and money. Here is how I would approach overcoming them:
• Treat It as a Non-Negotiable, Not Something Like "When I Have Time": The fact is you are never going to "have time". You need to make time. Look at your calendar every quarter and block out a day or two. Approach it as if it were a management meeting or an earnings call. It needs to be essential and non-negotiable.
• Invest in Yourself (and Your Team): Proposing a budget is tough but you need to advocate for it. Don’t portray it as an expense, convey it as a strategic investment. Lay out how a new skill – whether it is advanced excel skills, a course on upcoming new SEC regulations, or a seminar on AI – results in improved efficiency, reduced risk, and/or a stronger company image.
• Don't Underestimate the In-Between: Webinars are wonderful for fast information download, but they usually lack the content and more importantly the invaluable networking aspect of a live event. The real magic of a seminar or conference happens during breaks. This is when you can talk to other IROs and get real, unvarnished information on how they're handling various issues.
The sharing of ideas during these talks is phenomenal. An experienced IR professional from a $10 billion large-cap firm and a new joiner from a $250 million small-cap may be able to talk about their communications on different products, how they handle differences in talking to upper management and how they use different mediums for their outreach. An experienced professional can also help the new joiner by sharing their experience around a past large and small investment event occurrence.
•Don't Overlook the Essentials: Continuing education doesn't have to be all about the latest technology. You might want to refresh your knowledge on the advanced capabilities of Excel to assist you in your data analysis. Or perhaps it's a public speaking course to help you in presentation skills for the earnings call. This type of basics training can pay off in a measurable and immediate way in your day-to-day work flow.
More than ever in our fast-paced industry, the one thing we cannot let fall behind is our own knowledge. The marketplace does not stop for us to catch up. Investors demand we are experts not just in our business, but in the macro trends, policies, and technologies that will define the future. Learning, connecting, and developing is not just a good thing for our careers, but is vital to our successful and happy companies.
Best, Muge
Your fellow IR Enthusiast!
Currently serving as the Director of Investor Relations and Sustainability at Galata Wind Enerji (GWIND.IS), Yücel brings a wealth of experience to the role, having begun her investor relations career in 2008 at Dogus Otomotiv (DOAS.IS). Her expertise in proactive strategies utilizing digital technology and AI, particularly in shareholder targeting, is instrumental in communicating Galata Wind's growth story. Traded on the Istanbul Stock Exchange, Galata Wind operates wind and solar farms in Turkey and is strategically expanding into Europe, targeting a capacity of over 1000 MW by 2030.
Yücel has recently published "The Investor Relations Playbook - Achieving Sustainable Success", a hands-on guidebook on investor relations operations with templates, checklists and how-to guides. The book is available in print in Turkish and in digital form in English.