A good business reputation has never been more highly valued, PR consultant Richard Harvey recently told members of Wealden Business Group.
He summarised some of the key points from the ‘Protect Your Reputation’ media training course that he and TV broadcaster Jill Cochrane had delivered to clients including P&O Ferries, The Caldecott Foundation and Shepherd Neame.
He said that:
- A crisis which can damage corporate reputation comes in many forms, with the potential to strike SMEs as hard as national companies, particularly if the problem attracts the attention of the media.
- A damaged business reputation will lead to a breakdown of communication and trust with customers, suppliers and staff….
- …..and potential employees – Generation Z, the new cohort of young university and school-leavers coming into the workplace, wants to join employers with a good reputation which make a contribution to benefiting wider society, many through corporate social responsibility programmes
- Social media means that unfavourable opinions about your business can be posted even faster than a media story can be printed or broadcast.
- However, research shows the public tend to wait for mainstream media coverage before believing claims made on social media.
- Speed of response is essential in the event of a crisis. A corporate crisis management plan demands the four Cs – control, commitment, concern and calm.
- Companies with the best record of corporate responsibility outperform their peers in profitability terms.
- Which is one reason why world-famous investor and philanthropist Warren Buffet has said: ‘Lose money, and I will forgive you. But lose even a shred of reputation, and I will be ruthless’
For further information, contact Richard Harvey (tel: 01580 763605 or 07780 607209), website www.protectyourreputation.co.uk