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- Power to improve business reputation lies firmly in the hands of business
Power to improve business reputation lies firmly in the hands of business
Public trust in business has fallen 9% over the last year, so for our Everyone’s Business Tracker, we interviewed a wide variety of our members to give you the full picture and show you why it’s time to act.
The CBI, in partnership with Porter Novelli and Opinium, have launched the second wave of Everyone’s business research, providing brand new insight into people’s day to day relationships with business. The role business plays in society has been in sharp focus in recent months. Since October several high profile business failures and scandals have had a chilling effect on business reputation.
The latest analysis by the CBI has seen a drop in the number of people who believe businesses in the UK have a good reputation. Now 56% of people think UK businesses have a good reputation – down 9% in six months. Whilst this is a disappointing result, it does means that companies have the power to change public perceptions through the actions they take.
One of the most striking statistics from this wave of research is the finding that 92% of the public expect businesses to speak out on key social issues. This means taking a meaningful public stance, particularly when the issue is important to a company’s sector and is something employees care about. Above all, getting business practices right, making a difference and showing how businesses contribute to a more prosperous society are all steps business can take to improve their reputation.