What Every C-Suite Executive Should Know About Reputation
The report looks at how Reputation Institute identified and ranked the 2019 Macro-Trends on Reputation, looking at what’s shaping the world and moving markets and contextual understanding of what is happening, how it’s happening and why it’s happening?
In summary, the top ten macro trends identified (and their reputational implications) are:
Tension on Trade Tariffs - Trade tariffs have an impact on politics, economics, and business. There is need for a company to strike a fine balance in celebrating national heritage while protecting the business from reputation risk.
Female Empowerment - Companies should champion the new cultural narrative and support an affirmative corporate culture that advocates for equal opportunity.
Political Polarisation - Companies need to find ways to cut across political divide, and to rather align with public policy interests and pervasive social issues, and not just support a political agenda.
Nationalism v Globalism - In a time where there is a heightened sense of nationalism, companies need to be genuinely true to their origins – while multi-nationally exporting company heritage to a global audience.
Fake News - Use tangible actions and transparent communication to earn back trust. The repercussion of the decline in trust yields declining stakeholder support and impacts a company’s license to operate.
CEO Activism - Society demands activism, and CEOs must stand up and deliver. CEO activism aligned with the company’s core competencies and values positively impacts the company’s reputation as well as business support.
Employer of Choice - In a tight and competitive labour market companies need to understand what defines their culture and what makes them an employer of choice – they must create a narrative to romance their story and deliver on it.
Market Influencers - Influencing market influencers enhance company perceptions – winning their hearts and minds yields a significant and disproportionately positive return on reputation.
Cyber Attacks / Data Privacy - Data/cyber breaches are a breach of privacy and trust -- and are costly. Companies need to do everything necessary to protect themselves and to act swiftly and transparently in case of a breach.
Higher Purpose - At a time when the public is looking to identify with a company’s values, standing behind and delivering on your corporate purpose will elevate reputation and drive stronger emotional connection.