Download - The Economics of Reputation
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THE ECONOMICS OF REPUTATIONCONVERSATION STARTERS
Chairman, PRCA’s PR CouncilChief Executive, Lansons
@TONYLANGHAM
TONY LANGHAM CMPRCA
#ReputationMatters
Objectives
Stimulate debate
Intellectual content
Encourage conversation
http://www.slideshare.net/Mattcartmell/220714-toolkit-the-economics-of-reputation-37538296?ref=http://www.prca.org.uk/default.asp?pid=2095
THE EXPERT PERSPECTIVES
“Old fashioned PR was talking to the markets once
a quarter”
“Amazed by how quickly things blow up, how quickly
they blow away”
“You can’t talk your way out of something you behave your way into”
George Pascoe-WatsonPartnerPortland
Amanda MackenzieFormerly Chief Marketing and Communications OfficerAviva
Zitah McMillanFormerly Director of Communications and International, Financial Conduct Authority
REPUTATION AFFECTS EVERYTHING
Benefits of enhanced reputation
Recruit/retain staff 93%
91%
75%
More positive coverage
More effective marketing
69%Government influence
67%Benefit of doubt from stakeholders
Source: 55 in-house communication directors, YouGov, August 2014
CEOs BELIEVE IN THE POWER OF REPUTATION
Who believes reputation “affects bottom line a large amount”?
CEO 68%56%41%
CMO
The board
31%Senior managers
25%CFO
Source: 114 senior communication professionals, YouGov, August 2014
14%All staff
A large amount
No opinion5%
Disagree63%
Agree32%
MEDIA CRITICISM STILL HURTS
“Senior management care much less about journalists’ criticism than they used to”
Source: 114 senior communication professionals, YouGov, August 2014
Yes, now9%
Yes, past12%
No, never 79%
REPUTATION IS A KEY PART OF EMPLOYEE ENGAGEMENT
Embarrassed about where you work?
Source: 1,197 employees interviewed by Opinium, February 2015
REPUTATION MATTERS IN CHOOSING EMPLOYER
Deciding where to work
Salary 65%
41%
33%
Type of work
Organisation’s reputation
32%Location
27%Flexibility
Source: 1,197 employees interviewed by Opinium, February 2015
EMPLOYEES BELIEVE THEY’RE RESPONSIBLE
Responsibility for maintaining reputation?
All staff 63%
27%
25%
Leader
Senior management
17%Board
16%Marketing/PR team
Source: 1,197 employees interviewed by Opinium, February 2015
CONVERSATION STARTERS
Reputation affects everything
CEOs believe in the power of reputation
Reputation is a key part of employee engagement
Reputation matters in choosing an employer
Media criticism still hurts
Employees believe they’re responsible
THANK YOUTONY LANGHAM@TONYLANGHAM#REPUTATIONMATTERS
THE ECONOMICS OF REPUTATIONCHAIRED BY TONY LANGHAM CMPRCA
CHIEF EXECUTIVE, LANSONS@TONYLANGHAM
MILES CELICDIRECTOR OF GROUP STRATEGIC COMMUNICATIONSPRUDENTIAL@MILESCELIC
MARY WHENMAN CMPRCA
PRESIDENTWOMEN IN PR
@MARYWHENMAN
PETER MORGANCORPORATE AFFAIRS DIRECTORROLLS ROYCE@ROLLSROYCE