Singapore – How companies respond to global challenges and employee reputation is directly correlated with corporate reputation in today’s business environment, according to the latest ‘Brands in Motion’ global study by global communications firm WE Communications.

Data from the report mainly suggests that a company’s reputation is increasingly determined by its response to immediate and public concerns that have universal reach, such as cost of living and the climate crisis.

This shift has occurred alongside an increase in scepticism, with only 44% of brands seen to be delivering on their commitments, as half of survey respondents said that some brands that do take a stand on societal issues are just doing it for the sake of selling more products and services.

Notably, even as consumers are calling on companies to speak out more about issues such as cost of living (60%), employee pay and benefits (54%), the climate crisis (41%), and the responsible use of technology and artificial intelligence (38%), they expect brands to keep talking about and maintain a focus on social justice, DEI and gender equality.

When it comes to employee reputation on the other hand, social media and crowd-sourced rating sites are now fueling greater openness in the workplace about work conditions, benefits and pay. Beyond business performance, companies now must be transparent about employee experience, with 92% of respondents believing that employer-employee relations are among the essential characteristics of a company to build and maintain a great reputation.

Talking about these findings, Hannah Peters, EVP, corporate reputation & brand purpose at WE Communications, said, “In a world where the need for stability has never felt more personal, companies must go further to demonstrate progress and impact in areas people are feeling most acutely in their daily lives. This being said, long-term commitments remain important, but brands must also meet growing expectations to see and feel urgent action.”

Meanwhile, Rebecca Wilson, executive vice president at WE International, added, “It’s a delicate balance. The old rules of media relations, crisis communications and employee engagement need to evolve to respond to today’s accelerating demands. Brands that successfully pivot to embrace and commit to change will see long-lasting positive effects on their reputation and business success.”

Toronto, Canada – Despite 92% of respondents agreeing that customer experience (CX) is vital to customers, 52% of the respondents said that CX on their end has less impact or no impact at all to their purchasing decision or long-term loyalty, according to the latest report by total experience management company Alida

In their global report, they have found that 95% of respondents say they’re willing to spend more for a better customer service experience, placing greater emphasis on their personal experience versus convenience. Respondents note that bad personal experience (79%) and poor brand reputation (65%) were also cited as the biggest influences in making a purchase.

Unfortunately, 75% believe brands are simply not listening to their feedback, and one in ten believe businesses will never use customer feedback to inform business decisions.

According to the report, the biggest ‘offenders’ are banks, in-person retail, and credit card companies.

Nicole Kealey, chief strategy officer at Alida, notes that the past year has seen a fundamental shift in how consumers interact with brands, forcing companies to change the way they engage with and stay close to their customers.

“Being reactive is no longer a viable business strategy. Our study shows that business leaders are missing out on a tremendous opportunity to harness the insight and opinions directly from their customer base to create a better customer experience, drive sales and increase customer loyalty,” Kealey stated.

The report also noted that 4 out of 5 consumers state that they are highly motivated to do business elsewhere after a bad customer experience. The majority of respondents stated that they are also likely to leave a bad review, something that can have a negative long-term impact on a business. According to the report, t negative social reviews influence the purchase decision of six in ten respondents.

Kealey notes that as all industries look to best navigate a post-pandemic world, companies must understand that one of their most important assets to success is a happy customer.

“A customer who has enjoyed your products, services and experiences will come back again and recommend you to their friends and family. But competition will become fierce and optimizing every step of the brand experience will be critical. To do so, brands must integrate CX into their overarching business strategy and employ the tools they need to truly understand their customers and take action,” she concluded.