The latest wave of ‘Everyone’s Business’, the UK’s business reputation tracker, carried out by Opinium in partnership with the CBI (Confederation of British Industry) and Porter Novelli London, launched yesterday.
The standout statistics from the latest release of the tracker include:
- The reputation of UK business has fallen 9% since October ‘17
- 78% report a positive relationship with their employer, up 11% since October ‘17
- 92% of people say businesses should take a public stance on key social issues
Just over half (56%) of people think the reputation of UK business is good which represents a significant drop of 9% since October 2017 and is lower than the original level (58%) set when the tracker first started in July 2017. Business reputation also declined in 10 out of the 12 regions in the UK.
However, taking a stance on societal issues can help to regain lost confidence. The research revealed that more than 92% want businesses to voice an opinion on the social problems. With many people interested in the views of business on issues such as immigration, climate change and gender equality, improving reputation lies firmly in the hands of businesses themselves. Such a move by business would be well received with 72% of the public prepared to champion companies which stand up for what they believe and challenge politicians.
Embedding ethical practises, tackling inequality and having an environmentally friendly outlook are all areas where businesses can make marked improvements to their reputation.
- 75% say businesses should work with ethical suppliers and partners (+9% since October ‘17)
- 77% believe more can be done to value women’s equality (+6% since October ‘17)
- 75% have also made it clear that it is important that companies are environmentally friendly and oppose climate change (+11% since October ‘17)
To download the full report, click here.
To stream the CBI report film, click here.
Commenting on the research, Eleanor Turner, Director of Corporate Reputation & Purpose at Porter Novelli London, said:
“The findings show that it’s the companies with a clear purpose, that goes beyond profit, who have the greatest resonance with consumers. This needs to authentic and pertinent to the business though. Articulating this purpose is more important than ever, with there being an overwhelming call from consumers for business to play a role in the discussion on social issues.”
Business has the opportunity to manage its own reputation then, but this requires long-term commitment and investment beyond just trying to avoid the next crisis. There is no short-term fix.