To gain practical skills to boost stakeholder and employee engagement, join us at the COMMIT! Forum in DC October 11-12 2017 By Jan Lee Companies are under increasing pressure from stakeholders to demonstrate their commitment to social and environmental initiatives. Whether it’s providing shelter or meals for homeless families, increasing funding for educational programs or lobbying for change in Washington about issues that affect their businesses, consumers, clients and investors want to know that the companies they invest in aren’t afraid to engage in social initiatives. According to a recent survey by the Public Affairs Council, 60 percent of corporate respondents said their stakeholders expect the company to engage socially in their communities. More than 70 percent of those respondents also said they expect that demand from stakeholders to increase, not decrease, in the coming years. That’s because social programs are also helping to drive consumer behavior.
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The role and responsibility of companies, communicators, and citizens, according to Starbucks. By Corey duBrowa Today, more than ever, customers care about a brand's actions and what that brand stands for. Edelman's 2016 Trust Barometer found that 50 percent of respondents have lost trust in businesses because of their lack of contributions to "society's greater good," and 62 percent of earned brand respondents said they will not buy from a brand that fails to meet its societal obligations. It's clear that corporate responsibility initiatives can no longer be second tier priorities; they must be core to the business. Starbucks chairman and CEO, Howard Schultz, posed the following question at the company's annual meeting of shareholders last year: "What is the role and responsibility of a public, for-profit company?" At this year's meeting, he asked a new question: "What is the role and responsibility of all of us, as citizens?" Schultz often speaks about the importance of "leading through the lens of humanity.
CR Survey report indicates 81 percent of respondents wouldn't join a company with a bad reputation. By The Editors The importance of a company's reputation cannot be understated. Corporate Responsibility Magazine's annual corporate reputation study indicates that an organization can be perceived as "good" or "bad," and this perception directly affects both the quantity and quality of talent—and people won't work at a company that gives off a bad impression. CR Magazine worked with leading strategic recruitment process outsourcing partner Cielo on the survey, titled "The Cost of a Bad Reputation." The results were announced at the 2016 COMMITIForum in New York City on Oct. 18. According to the results, the implications of a bad reputation remain the same year-to-year: Talent is often unwilling to consider an employment at a company with a negative reputation, and when they do, it comes with a high cost. Companies with bad reputations need to spend more on recruiting costs because of the greater difficulty to source, hire and on-board new employees.
Steps on how to manage your company's reputation By Beth Rusert Companies put thoughtful effort into building their brand. Once that stage is well underway, the biggest asset to that organization - its reputation with stakeholders - is still vulnerable to harm. Reputation falls within the economic pillar of corporate responsibility, but if you are not aware of risks in all areas - operational, financial and governance - it can impact your reputation as a responsible company. A recent poll conducted by Standing Partnership and Edison Research, which surveyed more than 1,000 executives to identify how companies monitor and manage reputational risk, found that 78 percent believe their organizations do an excellent job of building and managing its reputation. However, only 53 percent gave similar grades to the organization for identifying risks - and even fewer highly rate the ability to develop strategies to mitigate those risks. Those findings represent the propensity of executives to focus on the building stage, but then turn a blind eye to the risks that pop up in operations.
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