Corporate How to build or business reputation is a very important issue. It is important for large companies expos to public recognition and it should be important for SMEs, whatever their sector . Why? The answer is in the definition of the word “reputation” by the Royal Spanish Academy: the opinion/consideration that someone or something has and the prestige or esteem that is associat with someone or something.
When applying this description to the business world, we will see that what is known as ‘stakeholders’ come into play , or in other words, the interest groups (people and other organisations) that are relat to the company’s activities and decisions: employees, shareholders, customers, suppliers, public administrations, general public, the mia… In other words, our reputation will be the result of the opinion or consideration that all these interest groups have of our company and that will strengthen that esteem or prestige.
Corporate reputation: aspects to take into account
A positive corporate reputation impacts sales, increases your ability to attract the most suitable suppliers, strengthens your employer brand by acting as a beacon for the best talent, increases the productivity of your employees thanks to their satisfaction, the competition will take you into account and public opinion, in general, will look favorably on the company.
There are three key aspects to building a corporate reputation:
It’s a long-term job
The maxim of coherence must be follow
It is not 100% controllable
Opinions and perceptions go through personal filters, and therefore will always be subjective, the result of the more or less satisfactory relationship that stakeholders have with the corporation or company in question. Oscar Wilde’s famous quote, which highlights that it is better for people to talk about you, even if they do it badly, does not apply in a globaliz and digitaliz world like today’s. But it is time to remember the famous quote from billionaire and investor Warren Buffet: ” It takes 20 years to build a good reputation and only 5 minutes to destroy it .”
Reputation is intangible, just like a brand, and it has a strategic value . Therefore, it is not only possible to manage it, but it is essential to do so. Although it is not portugal email list 2 million contact leads completely controllable, it is necessary to do everything possible. One aspect that you should not forget in corporate reputation management is risk analysis. Before launching any action, whether it is communication, internal, external, or activity, product, etc., it must be measur and the risks analyz from the point of view of reputation. Did you know that there are companies that manage risk on an ongoing basis with monthly reports that they send to shareholders’ meetings and which include an evaluation of all current risks to reputation ?
Start with internal communication in the company
As we have highlight, it is a long-term and arduous task and, therefore, it must be plann and bas on specific objectives. What do we want to project? Who are new brand for a new year our interest groups? What are our values? Where do I want to go? What objectives do I set for myself? Am I being consistent with who I am and with the activity I carry out?
And it is the responsibility of all those who are america email list part of a corporation, from the top manager, which is where it has to start, to the workers, every day and at all levels. Of course, a good performance management system, a satisfi workforce align with the company’s objectives will be the main ambassador and promoter of a good reputation . Involving them, communicating internally – obviously without revealing confidential aspects – the steps of the company and good remuneration in the work environment, at work and financially, which is the same, labor justice, is a very good first step.