Ultimately improving your reputation is about improving your business so that you can attract top talent, deliver a unique product or service that people want to invest in and grow the business and positively contribute to the economy of a country.

Part of the reputation management process is to build solid relationships with your key stakeholders, which may include employees, clients, investors, government and the media, to name a few. “Each of these stakeholders perceive the business differently and understanding stakeholder concerns can be quite complex. For this reason, reputation research is key for businesses to continuously grow,” says Le Roux.

In order for companies to understand their reputations, Reputation Matters has developed a unique measurement tool, the Repudometer. With this tool, organisations are armed with vital research that allows them to accurately adapt their business and communication strategies to all key stakeholders’ requirements.

“With the Repudometer we are able to scientifically measure and quantify an organisation’s reputation. It allows us to see what is positively or negatively impacting its reputation. There are five core elements that make up a business’ reputation and it is critical that attention is given to all of them,” Le Roux explains.

These five core elements include:

Corporate Management

How is the organisation run and managed?

“It is very important that all stakeholders know what the vision and mission of an organisation is and whether it is being upheld. The effectiveness of policies, procedures and leadership is also a key focus area for when measuring an organisation’s reputation,” explains Le Roux.

Corporate Capital

Does the business have the right resources?

“An organisation’s employees play an important part in the success of a business. Any business owner needs to ensure that they have the right people on board with the right tools to achieve business goals," le Roux reiterates.

Corporate Positioning

How is the organisation positioning itself in the industry?

Le Roux indicates that strategic alliances, i.e. who you are partnered with; should be carefully chosen. By association, a partner’s values and reputation will affect your own. Similarly, Corporate Social Investment (CSI) initiatives should not be done merely for the sake of it, and needs to be sustainable and form part of the organisation’s overall strategy.

Corporate Performance

What is the organisation’s perceived market performance?

“It is common knowledge that business results, such as share price and future viability, influence shareholder perceptions. A business’ products and / or services should also be of a high and competitive standard,” shares Le Roux.

Corporate Dialogue

How do you communicate with your stakeholders?

Le Roux emphasises that communication is the essence of reputation and the glue that binds the other four elements together. Both internal and external communication are imperative to building a strong reputation.

“Any business will know that reputation does matter. Without research, will you know what perceptions your stakeholders have of your organisation, and where to start building your reputation to take it to the next level?” concludes Le Roux.

For more information, visit www.reputationmatters.co.za. Alternatively, connect with them on Facebook or on Twitter.