A company’s reputation is a collective snapshot of how others perceive it. Customers, shareholders, partners, suppliers, employees, and even the general public hold certain ideas and impressions about your company and the service or products it provides. This perception stems from either personal experience or from the media messages they consume.
Third-party commentary, social media sentiment, online reviews, online feedback forms, and search results are some of the main building blocks of your reputation.
Protecting your business reputation with Yoono smart search software
In a world with 60% of its population comprised of active internet users, much of this reputation-building takes place online via social networks, their online social life, and across multiple platforms.
Using a reputation checker like Yoono will help protect the company reputation from risk by checking online files. The automated search is powered by the latest technology, supported by decades of research and is one of the best tools to protect against future reputation damage.
Today we have instantaneous news cycles and real-time interactions between businesses and customers.
Naturally, reputation-building is not a one-way street anymore, and business reputations are now being built from the inside out. A large chunk of this happens through the individual reputation of employees and associates. According to a recent study, 74% of executives believe their customers tie brand perception to executive perception.
This link between individual reputation and company reputation is even stronger in the case of top executives.
A Weber Shandwick report on the role of corporate reputation found that 49% of the reputation of a company can be attributed to its CEO’s reputation. What makes this even more relevant to businesses is that there is a strong correlation between company reputation and financial success. In fact, according to the same report, 60% of a company’s market value is derived from its reputation.
How an individual’s reputation can impact a business
Businesses with strong positive reputations attract better people – be it employees, suppliers, or shareholders. They inspire customer loyalty and trust. Their market value is high because they are thought to deliver sustained earnings and future growth.
In an economy where more than 70% of market value comes from intangible assets like brand equity and goodwill, this immense value attached to reputation makes organisations especially vulnerable to reputational risks.
The impact of an individual’s reputation on the business wasn’t as strong in the past when business decisions were played out in boardrooms and business leaders weren’t public figures. Now the actions and statements of these individuals are accessible on countless platforms in the public domain, and their brands and businesses are only a click away.
There are countless incidents of an individual’s reputation majorly impacting an organisation.
Only a year ago, Matt Duckor, Condé Nast’s head of video programming, faced allegations of discriminatory behaviour. When his online reputation was found to show evidence of similar actions, the company attracted wide criticism for its careless hiring and poor culture. Duckor had to resign, and Condé Nast announced that they would be working on their talent selection and recruitment processes.
An instance of a different kind of individual reputation impacting the business is of John Legere and T-Mobile. When he was CEO of the telecom network, his reputation as a colourful, rebellious “shock jock of corporate America” helped boost the image of a rebel brand that T-Mobile was trying to create for itself. The CEO’s reputation played a big part in establishing the company’s reputation as a market disruptor and challenger.
A company’s reputational vulnerability is not limited to its employees…
It extends to all those people it associates with on close terms. Each individual carries with them a certain level of risk. So, to safeguard themselves, companies conduct reputation checks on clients, suppliers, and employees.
Since traditional methods of reputation checks are neither scalable, very efficient, or produce live updates, many companies opt for new technologies like Yoono AI-driven reputation checks to save time and money.
Safeguard your business from these reputational risks
Research shows that an alarming number of people exhibit offensive or discriminatory behaviour online, especially on social networks. This kind of behaviour can repeat itself at the individual’s workplace or in their professional relationships, disrupting a culture of inclusion and diversity. It can reflect negatively on the company they work for, attracting public ire, reputation loss, and even lawsuits.
A negligent-hiring lawsuit, for example, is a common-law claim that says a company ought to have known if an employee posed a risk.
This makes it crucial for businesses to have an effective reputation checking service in place. An automated smart scan feature like the Yoono reputation checking software can be used to do the heavy lifting and provide more options, as it can run detailed website checks within minutes against large volumes of online information and public records held on the web.
How Yoono can help save time, expense and the reputation of a company
By scanning the internet files and data held on a browser, the smart Yoono software can discover the reputation status of an individual. Yoono does this by scanning data held on the person on social networks such as LinkedIn, Twitter and Facebook. Yoono also checks multiple platforms and search engines like Google Chrome, Yahoo and Firefox.
Because reputations change and evolve all the time, Yoono can also be used for ongoing monitoring of individual reputations. The Yoono robust browser add-on algorithm can produce real-time insights to help mitigate the reputational risks that can impact your company.
Safeguarding against reputation damage using the latest technology
Yoono users can easily access the information held on a browser, the web, and social networks via an email report sent directly to an inbox ready for download. The Yoono platform provides a status instantly giving you peace of mind over who you are hiring and working with on a professional level.
Reputation metrics will continue to evolve, but with the correct technology for the age, companies can keep pace with the shifting requirements of online reputation management without breaking a sweat.