Reputation is one of the most valuable assets a company has, and companies that understand the value of reputation work hard to continually earn the trust and respect of others in their industry.
In particular, since the 2008 credit freeze, reputation has become a central focus for companies seeking to minimize their material risks. For the past two years, over 70 percent of directors surveyed by a well-known accounting firm stated that “reputation” was the number-one board-level risk on their respective radars.
With reputation at the top of many companies’ lists of concerns, how to measure and evaluate relative reputation and trustworthiness becomes a key concern. A model proposed by Consensiv LLC uses “big data” value metrics to track stakeholder expectations and their consistency over time, while eliminating qualitative measurements such as “likability” – more appropriately the concern of marketing and brand research.
As of October 2013, the five companies that came out on top in the Consensiv measurements were:
- Intuitive Surgical
- Chipotle Mexican Grill.
Priceline stands out among the others not only because it is first but because, according to Consensiv, it manages to score extremely well for reliability despite being a consumer-services company – an industry in which reputation tends to be volatile as consumers respond to external influences like competitor promotions. For instance, the next highest consumer-services company on the list is McDonald’s, ranking at number 24.
Priceline’s pride of place on the top of the list results from its established global network that excels in matching travel services supply with consumer demand, producing a steady, profitable cash flow. The company also appears to be well aware of the need to protect its reputation – it mentions the concern no fewer than 12 times in its 2013 Form 10-K.
Overall, Consensiv notes, companies tend to make the list by being reliable as well as capable of managing expectations, following regulations, and earning consistent profits. Over half of the top fifty have stayed on the list for at least four consecutive months.
At Daley and Associates, our experienced recruiters can help you find the top talent you need to achieve your business goals in 2014 and beyond. Make sure to manage your reputation to attract top talent to your company.
If you are looking for Boston recruiters, contact us today.