Even during uncertain times, anyone running a business knows their numbers cold. Be it monthly run rates, EBITDA, payroll or cash flow, managing a company means being on top of key metrics. But the one number that’s rarely calculated is the one that can predict survival and growth or potential annihilation: reputation risk.
That’s the most important number of all because 60 percent of a business’s market value is based on a brand’s reputation. This includes leadership: 44 percent of the reputation of a company depends on the CEO, and 95 percent of all financial and industry analysts say they recommend a stock based on CEO reputation alone. We’ve all seen how quickly a reputation can change — victim of a few tweets or a single unguarded remark. Fair or not, it’s every boss’s job to protect and manage reputation. Giving potential risks a number is important to the bottom line.
The 15-question reputation assessment tool here is a start: https://bit.ly/3lkQBml. When the management team and top employees buy into awareness, the entire workforce is enlightened. We’ve seen clients return reputation assessments where almost everyone is in agreement about areas of concern. But more often, the result of reputation analysis comes with some surprises. What the C-Suite believes and what the managers and key staff perceive are often considerably different. Candid assessment gets people talking and facing the hidden dragons. It also aligns people on the core values that keep companies out of trouble and guide them when under attack.
Reputation is the new critical number for leaders to know as employees adapt to new work models and as business quickens its pace. Have your entire team take the assessment to get visibility around issues you may not know exist and to engage in deeper discussions to improve operations and morale and avoid pitfalls.
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