Why is Reputation business critical?

Curating a positive reputation can’t be left to chance. Today, most people understand the reputation of a brand through the lens of search engines and social media with a certain amount reserved for the physical world. Reputation management works to actively affect how a company is perceived, by channelling positive information about it in a way that increases positive sentiment, while causing negative sentiment information to lose visibility. In the words of Warren Buffet – “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

Being an ethical business and doing the right things in the right way is becoming a non-negotiable. In a recent report on Gen Z by talentsmoothie, this was highlighted as the most important driver in deciding whether to join or stay with an organisation. According to research by Edelman, there is an increasing expectation for businesses to step up on societal issues and lead the way in a world that is becoming more distrusting of institutions. Consumers as well as employees look to work for, or buy from, businesses that they can trust to be doing the right thing. According to the latest Reptrak report, workplace is the worst performing overall company reputation driver in 2022.

In the context of workplace reputation, there are many factors at play. Managing them requires constant focus and attention. Both the external perception and the internal reality need to reflect people’s experience in order to be validated as authentic. Only then will they deliver real value to the business both from a financial and reputational perspective.

People choose organisations whose purpose and values align with their own. They choose organisations where they can find meaning. In short – people chose to work with organisations they trust. And when people trust you, they are more likely to recommend you to friends, advocate on your behalf and even forgive small mishaps. Trust unleashes the power of positive attraction – bringing more of the right people into your orbit and ensuring that they stick around longer and contribute more.

If reputation is the single most important aspect of your business – how are you stacking up? How are you curating that reservoir of goodwill? How are you building trust and delivering on those moments of truth at every stage in the employee lifecycle – from attraction to exit?

So, what’s your reputation worth?