Companies focus on corporate reputations
Nearly nine in ten British businesses believe social responsibility will become more important in the future as companies strive to protect their reputations.
Research among 800 CEOs and other top executives in Europe and North America found that corporate reputation management has moved up the boardroom agenda amid tough trading conditions and a wave of corporate scandals.
When choosing a new CEO, 62% of UK boards say they would look for a candidate capable of protecting and enhancing the company’s reputation. CEOs are also increasingly measured and paid according to their reputation management skills.
The research, by communications firm Hill & Knowlton, found that 88% of British firms believe appearing socially responsible will help build employee loyalty and improve sales, and two-thirds now monitor corporate responsibility initiatives.