Reputation is a principal risk for most organisations. When things go wrong, there it is often high impact because of the value placed on it: the currency of reputation.
RepTrak® (formally the Reputation Institute) measures reputation and, in this podcast, James Bickford (Managing Director for RepTrak® the time of the recording) talks about a wide range of issues, including:
- The origins of RepTrak® formerly a think tank and the Reputation Institute
- How reputation is measured
- The importance of reputational currency
- Shared risk and its impact on reputation
- Attracting talent into the organisation.
Through extensive research, RepTrak® identified seven dimensions that organisations need to deliver against to develop a powerful reputation – products/services, innovation, workplace, governance, citizenship, leadership and performance.
Bickford talks about these levers and how reputation sits across trust, governance and culture.He says that “the board and the remuneration committee have to sit down with the CEO and say we need to make this part of your remuneration, a currency within your organisation.”
He reflects that many organisations are on a journey in terms of measuring reputation and proactively managing it as a risk in its own right as a valuable asset.
Please be aware that since recording this interview, the Reputation Institute is now known solely by its research brand name – RepTrak®.…