Global Q3 Data Dose
Corporate Reputation14 Dec, 2022
The year may be ending, but our global corporate reputation monitoring software is always-on. In addition to our ongoing, consistent metrics, we also include current events and concerns as they arise to give the most complete picture of evolving stakeholder needs. This gives us fresh, piping hot reputation data and insights every day. And we can’t wait to show you what Q3 revealed about the ever-evolving reputation landscape.
When so much happened in Q3 (mass layoffs, rising inflation, the ongoing war in Ukraine, the approaching US mid-term elections, etc.) stakeholder voices became even louder, and the broader impact on reputation is looming.
RepTrak’s latest Quarterly Data Dose has insights on inflation, war and geopolitical instability, environmental concerns, and employee wellness. Let’s get started.
Inflation isn’t just a top concern, it’s the top concern
Which of the following global issues do you believe are important for companies to act on?
When compared with other popular concerns, inflation and the cost of living remained top of mind and experienced the most growth QoQ. Folks were feeling the shock of price hikes, the betrayal from their favorite brands, and the squeeze on their wallets–and no region is exempt. Globally, ~66% of consumers are worried about the impact of rising inflation, APAC is slightly less concerned (60%), while the Americas demonstrates the highest level of concern (68%).
Let this be a friendly reminder that a distinct selection of your audience is monitoring your price fluctuations, your quarterly earnings reports, and employee quality of life… and then sharing their findings. In the age of social media, nothing is secret and operating with fairness and transparency should remain a top priority as the public navigates this financial landscape.
How concerned are you, if at all, about rising inflation shrinking your purchasing power over the next twelve months?
Environmentalism demands may surprise brands
Which of the following environmental issues are most important for corporations to address in helping to better society?
Most of the chatter from brands surrounding environmentalism focuses on achieving carbon neutrality, but the public voiced that “Reducing Waste” was their top environmental priority, above general climate change. This is a great action item for organizations to tackle heading into 2023. General climate change as a whole is large and amorphous, difficult to calculate and even more difficult to reduce impact. Waste reduction is tangible and measurable, relatively uncontroversial, and has multiple opportunities throughout your supply chain. Let this inform your 2023 planning as you shape greener practices. Then, inform your audience about your efforts.
Climate change is a close second, so don’t deprioritize other carbon-reducing endeavors. Landfill waste directly contributes to greenhouse gases and working to reduce waste can help you check both boxes.
Employees and stakeholders are feeling the sting of big brand layoffs
Which of the following do you believe are the best ways for companies to demonstrate care for employees?
The Great Resignation brought higher employee (and customer) expectations in terms of attractive employment. Consumers are demonstrating a unique employee empathy, showcasing a growing demand for fair treatment for employees. When both employees and consumers want their brands to be good employers, big name layoffs throughout 2022 (Buzzfeed, Meta, Snap, Microsoft, etc.) hasn’t necessarily stopped wandering jobseeker eyes, it’s simply created a longer wish list.
“Job security” holds the highest priority at 27.8%, but “Total rewards” is a close second at 23.6%. Work-From-Home still holds appeal with “Flexibility” at 14.3%.
At RepTrak, we’re constantly touting the value of communication–your audience is not made up of mind readers. In times of widespread layoffs, employees and customers are feeling nervous. Good news or bad news, keep employees thoroughly informed and communicate to customers the potential impacts they can expect.
When the outside world is in constant flux, so is corporate reputation. Each quarter, you are either nurturing or neglecting your reputation – it does not stay the same, and inaction is an action with consequences. How your organization responds to the changing landscape influences stakeholder behavior.
Our reputation monitoring software, paired with our expert Advisory team, keeps our customers informed on how the public is perceiving their unique brand. We’re proud to leverage our reputation database (the largest in the world) to give stakeholders a voice and global brands the insights they need to prepare and respond accordingly.