Companies with strong and excellent reputations more often have a foundation of measurement in place and are able to focus their efforts on cross-stakeholder communication, corporate social responsibility and managing reputation risks, according to new research released this week by Reputation Institute (RI).
The annual Reputation Leaders Study (RLS), in which RI surveyed more than 150 executives in companies of all sizes around the world, found that companies with an average reputation are still working on developing the business case and finding the best approach to measuring their reputation.
As highlighted in PRWeek’s story on the RLS, “Large companies that put their brand management in the hands of the CMO, rather than corporate communications officers, can better quantify reputation metrics.”
According to RI Vice President and Chief Research Officer Brad Hecht, that’s because “CMOs generally have more quantitative tools at their disposal, which they use to determine where the company’s reputation weaknesses are. Companies that put their corporate reputation management in the hands of the CMO end up with better metrics, more tools, and a voice in the C-suite.”
Read PRWeek’s full coverage of the RLS online here.
RI’s annual survey of corporate leaders finds successful reputation management remains a top-of-mind concern for executives around the world. Fewer than half the surveyed reputational leaders reported that their organizations have the right internal competencies, structures, processes and methodologies in place to assess and manage reputation risks.
Survey respondents from companies headquartered in the United States or Canada are ahead of European companies in implementing a “well-established structure for addressing and mitigating key reputation risks” and “a cross-functional governance structure to manage the key reputation risks.” However, only 59 percent of respondents overall “strongly” agree that their organizations have a credible and compelling narrative that addresses cross-stakeholder expectations and aligns with corporate purpose.
To gather insights on today’s trends, practices and priorities in reputation management, Reputation Institute surveyed 150 global executives in corporate communications, reputation management, strategy and the C-suite. Respondents came from 20 countries and participated between September 2015 and January 2016. Survey respondents represented companies of varied sizes, from those less than $1 billion to those $30 billion or more.
The full 2016 Reputation Leaders Study is available online at http://www.reputationinstitute.com/research/Reputation-Leaders-Study.