Brand, Reputation, Culture and COVID19
Well life certainly seems busier under Level 3, more cars on the road, more posts on Facebook of takeaway coffees, and more business zoom meetings.
Yet even with all this “busy – ness”, we still need to ensure that we keep our eye on the things that matter, such as how we are portrayed in the media and whether this is aligned with our Culture.
Really you may ask, does this actually impact on my company? Is it going to stop people buying my products or services? Is it going to stop me attracting and retaining the best people? Is it going to stop people investing in my company?
Well the simple answer is yes?
Simon Sinek, in his book “Start with WHY” states that people do business with a company where they believe in the company’s WHY; where there is an alignment with the organisation’s WHY and their own personal values and beliefs. Sinek stresses that by demonstrating their WHY in everything they do, they are also demonstrating authenticity.
I am sure you can think of many instances where a company’s authenticity has been compromised and their reputations destroyed. If we look at how this has happened, it is often through the actions of employees not aligning with the company’s Values.
So the airline, dragging a paying passenger off a plane while having a Value “We Fly Friendly”; the clothing designer promoting the company as New Zealand Made while actually manufacturing offshore; the company that promotes their People as their greatest asset, while asking staff to take a pay reduction of 20% more than their Executives. All reported widely in social and traditional media, thereby damaging their reputations.
You may think that the impact of these stories is the loss of a few customers, but it could well be more, much more.
Not only do people make their buying decisions on the basis of a company’s WHY, more and more investors are making their investment decisions on the basis a company’s performance in the key areas of environmental impact; social responsibility towards your staff, stakeholders and communities as well as your shareholders; and whether your governance is adding value to your company.
So, if we remember authenticity is key, what impact does it have …
…if you promote your company as having a Value around reducing your impact on the environment, but you don’t report on this in your Statement of Service Performance or Annual Report … how committed are you really?
…if you state your People are your greatest asset, but don’t provide them with the necessary PPE, and training on how to use it properly, to stay safe … how much of an asset are they really?
Finally, if your Values, brand and reputation are not authentically aligned you may be compromising on your ability to attract and retain your future workforce.
A recent Colmar Brunton poll that showed that 66% of kiwis would rather work for a company with Values aligned to their personal values and be paid less.
This brings me to suggest that the impact of accurately and authentically representing your Values in all you do, building it into your brand strategies to protect and enhance your reputation, is a key response to maintaining company viability and sustainability at all times especially during COVID19.