On my reputation mind…
A few notes from my week…
- I got a kick out of Fortune’s Geoff Colvin’s Power Sheet this week which I read religiously. He said that despite all the weighty topics at the Fortune Global Forum on disruption and the digital revolution, all the CEOs kept coming back to culture. I think that more than ever, having the right place to work with the right values and the right people is at the heart of the best companies. I never forgot a quote from an individual many years ago after a Royal Dutch Shell incident who said that culture was the heartbeat of an organization. I always liked that.
- The Guardian had an interesting roundup on the value of reputation. Listen up. Two days after the VW emissions scandal became public, the automotive company lost nearly $28 billion in market value. I guess you can say that’s the downside of a damaged reputation.
- At Commit Forum, a new research report — Project ROI — was revealed that found that a highly regarded corporate reputation for responsibility and sustainability can account for 11% of a company’s value. It can also reduce staff turnover by 50% and increase employee engagement by 7.5%. There are other great roi’s discussed in the report so check it out.
- In the same survey, the researchers found that while 67% of workers would leave their current jobs to go to companies with poor corporate reputations, they would require – on average – a 57% raise. By comparison, 92% would leave their current job to work for a company with a strong corporate reputation. And they would do so for less: men, on average, would require a 34% raise, while women would require a 28% salary increase. Why women would take less of a salary increase annoys me. What’s with that?
- I’ve heard Medium mentioned more times this week than all the previous six months before. It’s becoming the medium of choice.
- I had several discussions with clients and colleagues about the company behind the brand. Our seminal research on this topic is as relevant as ever.
- Someone mentioned in a meeting which I thought was smart that anniversaries are terrific in galvanizing support and energizing employees. A good point.