Offering quality products and services, first-rate customer service and constant investment in innovation have become insufficient to shine in a globalized world, where companies are constantly emerging and physical aspects can be imitated. Those that really want to make a difference must place emphasis on their corporate reputation, that is, on the level of esteem or admiration that their stakeholders have for them, after comparing them with the competition. It is considered a vital and increasingly relevant asset for building trust and loyalty.
In this field, the company's identity (history, strategies, processes and culture) comes into play, as well as the value and recognition given to it by customers, shareholders and society in general, among other audiences. Although this is a concept that has been talked about for some years now, it still seems strange to many organizations.
"In today's competitive environment, with an absolutely globalized economy and disruption given by technological development, it is very difficult for companies to compete with each other based on tangible elements. A Toyota car is very similar to a Ford car and other brands. In this industry, and in others, as soon as someone incorporates a technical improvement, others will copy it. The only thing that cannot be copied are the intangible elements: everything that has to do with the brand and corporate reputation," explains Manuel Sevillano Bueno, general manager of Merco (Monitor Empresarial de Reputación Corporativa), the world's leading market research company in the field. It is also a determining factor for a candidate to accept a job offer and is a fundamental part of the motivation for the employee to want to stay in the organization, adds Dahiana Arias, country manager of Manpower-Group Costa Rica.
Both experts agree that an increasing number of businesses are investing in the projection of their good name, mainly in more developed economies that have already visualized its importance.
"Over the years, companies are investing more and more in marketing their own brand, improving websites, opening specific spaces, developing public relations and so on. However, it must be clear that one of the most important points is to take care of the internal culture, since word of mouth is very important when it comes to attracting talent and there are social networks, such as Glassdor, where people express their opinions about the companies they work or have worked for", says Arias.
Results of the study
This 2018, after a year of research, for the first time Merco presents the list of the 100 companies and 50 executives in Panama with the best corporate reputation. It considers that, within the intangible values, a solid reputation can represent up to 80% of the market value of an operation and that companies that begin to evaluate it, end up improving it.
For the evaluation of the companies, the following aspects were addressed: commercial proposal, market, current and potential customers, ability to attract and retain talent, share value and shareholder remuneration, and how it supports the development of society. The selection of executives took into account their skills, way of doing things, communication skills, commercial vision, strategy, ability to create and promote teams, innovation, ethics and corporate social responsibility. (See complete ranking here) .
