More than ever, reputation is omnipresent in business today. Since Weber Shandwick has been observing the progression of corporate reputation around the globe for a long time now, we thought it was the right time to update some of the reputation metrics and perspectives that defined the last decade and start the new decade with some fresh thinking. We took the pulse of global executives and reported what we learned in our new research – The State of Corporate Reputation in 2020: Everything Matters Now – conducted with KRC Research. Here are some of the key findings that business decision-makers will want to know as the spotlight on companies continues to be more unforgiving, technology shines a light on everything and anything and companies find themselves shunned if they lose consumers’ trust:

1.    Corporate reputation is an invaluable asset. How invaluable? On average, global executives attribute 63% of their company’s market value to their company’s overall reputation. This syncs with our finding that most executives (87%) report their own company reputations as strong and 91% say that their company’s reputation is important to their board, especially publicly held and multinational ones.

2.    CEO reputation matters. There is no denying the fact that leadership at the top counts. Global executives attribute 58% of their company’s reputation to their CEO. Similar to our multiple surveys over the decade on the topic, a strong CEO reputation is immutable. Over two-thirds believe that CEOs (67%) and senior management leaders, besides the CEO (71%), should have a visible public profile to burnish reputation.

3.    Corporate reputation is communicated pervasively today. 69% say senior management has mentioned the company’s reputation to employees over the past 12 months and 57% in publicly-held companies report that corporate reputation has come up on earnings calls. This intense attention to reputation explains why CEOs are expected to communicate the organization’s values in order to be highly regarded.

4.    Corporate reputation is “omnidriven.” This is a major finding for us reputation followers. When asked to rate nearly two dozen different reputation drivers on how much each contributes to their own company’s reputation, 50% or more global executives rate 22 highly with little distinction between the drivers. This lack of distinction among drivers suggests that companies can no longer solely focus on just a few key drivers of reputation, but should instead consider many drivers with all relatively equal importance. From quality of employees and products, to financial performance and corporate culture to ethics and values, everything matters to managing corporate reputation today. As I wrote in my 2020 reputation trends report here, “With technology making everything seeable and all stakeholders having a voice, a well-earned corporate reputation can collapse over the most minor of stumbles. Going forward, a company will need all of its reputation drivers working in lockstep and at maximum output just to stay in place and be risk-free. 2020 reputations will hinge on staying ahead of all risks, responding quickly and empathetically, and always preparing for the worst. Everything will matter. All factors are primary.”

5.    Most reputational crises are self-inflicted. Among the global executives who report that their firms experienced a crisis in the past two to three years that impacted their reputations, a staggering 76% claim that the crisis was preventable. In an environment where business leaders are being caught off guard by dangers that seemingly lie in plain sight, companies must ensure they are hyperalert to all factors when working to build and safeguard their reputations, cultural or otherwise. It’s a 24/7/365 job.

6.    Reputation is being measured. 71% report that their company’s leadership measures or monitors the reputation of their organization. Hallelujah. Employee satisfaction or engagement tops the list of how it gets done.

This latest research shows why reputation matters to being well regarded. Reputation is a competitive asset in a world marked by uncertainty, intractable business challenges, lightning-fast digital transformation and brutal talent wars. Strategically cultivating and maintaining a strong reputation, both internally and externally, has to be a daily solve for nearly all business leaders today.

Method: The State of Corporate Reputation in 2020: Everything Matters Now, an online survey, was conducted by Weber Shandwick in partnership with KRC Research among 2,227 executives in high revenue companies across 22 markets worldwide. In addition to reputation, the survey covers culture, CEO activism, employee activism, crisis and risk. Additional reports on these topics will be released throughout 2020.