Corporate governance increasingly vital to reputation
The research found that corporate governance – perceptions of fairness, ethics and transparency – has a more significant impact on company reputation than ever before.
2017 composition of corporate reputation: | Change since 2016 |
Products & Services 19.7% | +1.4% |
Governance – 17.2% | +1.5% |
Citizenship – 15.8% | +1.3% |
Innovation – 12.7% | -0.5% |
Leadership – 12.3% | -0.2% |
Workplace – 11.9% | -1.5% |
Performance – 10.6% | -1.9% |
In terms of specific companies, there has been significant change at the top of the rankings with half of the top 10 changing in the past year. Dyson took the top spot with a score of 86.8. Waitrose has made its first top 10 appearance, coming in at number six, with a score of 83.5.
The top 10 companies in the 2017 UK RepTrak are all considered to have an ‘Excellent’ reputation.
- Dyson
- Aston Martin
- Lego
- Michelin
- Sony
- Waitrose
- Intel
- PayPal
- Samsung
- Rolls-Royce Aerospace
James Bickford, managing director at Reputation Institute said: “The populist sentiment of 2016 that led to the Brexit vote and the election of President Trump has also impacted corporate reputation. People want to feel they are being treated with authenticity, transparency and fairness by the corporates they are spending their money with.
“Products and services are of course always the most important factor in determining reputation, however, it is fascinating that we are witnessing such a surge in the importance of citizenship and governance. Having a positive influence on society is now the third most important attribute, behind having high quality products and being value for money. To have an excellent reputation it is becoming imperative for businesses to successfully communicate societal value, openness and fairness.”
The corporate reputation study is based on more than 35,000 ratings collected in the first quarter of 2017 from the UK general public.
The RepTrak system measures a company’s ability to deliver on stakeholder expectations on the seven key rational dimensions of reputation: products and services, innovation, workplace, governance, citizenship, leadership and performance. Companies are ranked on a score from 0-100 based on their overall reputation, and are grouped as Excellent ( 80+), Strong ( 70-79 ), Average ( 60-69 ), Weak ( 40-59 ) or Poor (Below 40 ).
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