| In light of recent corporate scandals, from Enron and | | | | falter and find their reputations and profits flagging as a |
| Global Crossing to those of once trustworthy mutual | | | | result. |
| funds, is it any wonder that more people are asking, | | | | - Transparency: Strong reputations develop when |
| "Can I trust this company enough to do business with | | | | companies are transparent in their business affairs. |
| them?" But the trust issue isn't just relative to the | | | | This means lots of communication, creating highly |
| buyers of your products and services, its vitally | | | | visible presences across whatever media is available |
| important to employees as well. Impacting their | | | | to them, engaging stakeholders in continuing dialogs. |
| retention and performance in very real ways. | | | | - Consistency: Strong reputations result when |
| According to a survey of 1,200 workers by global | | | | companies focus their actions and communications |
| consulting firm Watson Wyatt, forty-four percent of | | | | around a core theme. This almost single-minded focus, |
| American workers say top managers and executives | | | | when continued over time, builds a belief presence in |
| are sometimes dishonest, and 40 percent say the | | | | the mind of the stakeholder that 'you'll do in the future |
| same of co-workers. Meanwhile, 51 percent of | | | | what you did in the past.' |
| workers say companies too often 'spin' the truth when | | | | Building up your RQ: It's all about the 'message' |
| talking to them, according to a separate survey of | | | | Knowing then that your reputation is a solid contributor |
| 1,000 Americans by Towers Perrin, another global | | | | to your staffing or recruiting firms' bottom line, how do |
| consulting firm. | | | | you build it up? Your reputation is based on the signals |
| The lack of trust contributes to weaker ties between | | | | or message you send to your stakeholders. So, building |
| workers and the companies for which they work, | | | | your RQ can be approached as a three-step process |
| which in turn has a significant impact on corporate | | | | to identify, build, and manage your message: |
| profitability. How much, you ask? Well, the three-year | | | | - Determine your message. In their landmark book |
| total return to shareholders is almost three times lower | | | | "Positioning", Jack Trout and Al Reis make the |
| at companies with low trust levels than at companies | | | | unassailable point that success is first and foremost |
| with high trust levels, according to Watson Wyatt's | | | | dependent on knowing who you are and what you |
| WorkUSA 2002 survey. | | | | (want to) do that's different from anybody else. |
| When you add the loss of employee trust to unethical | | | | Unearth your unique promise of value. Learn what |
| business practices to the bursting of the 'dot-com' | | | | separates you from your peers and is compelling to |
| bubble and the recession of the past few years, the | | | | those who need to know about you so that you can |
| response is natural. Shell-shocked consumers and | | | | expand your success. |
| business-buyers alike are taking a measured look at a | | | | - Construct your message. Build a communications |
| companies' reputation before making a purchase or | | | | plan to express your brand -- a brand position that |
| investment. That's where RQ comes in. | | | | everyone within your company and every stakeholder |
| What is RQ? | | | | outside your company can and will buy into. Identify the |
| RQ is a new term, for 'Reputation Quotient'. The term | | | | tools that you will use to communicate your unique |
| RQ was coined by Dr. Charles Fombrun, Professor | | | | promise of value so that you will become consistently |
| Emeritus of the Stern School at NYU and the founder | | | | and constantly visible to those around you. |
| of the Reputation Institute ( Dr. Fombrun has done | | | | - Orchestrate your message. Manage your brand |
| extensive research with companies around the world | | | | environment. From your desk to your advertising and |
| to understand the roles that their reputations play in | | | | public relations to your products and services to your |
| their success. | | | | employee benefits and community service programs |
| He has learned that the most successful companies, | | | | to the office party if you have one, you must ensure |
| and those that can endure great challenges, all have | | | | that everything that surrounds you sends the same |
| one thing in common: Strong reputations, or high RQ. | | | | on-brand message. |
| According to Christopher Foss of the Reputation | | | | As demonstrated by the companies whose sinking |
| Institute, "It's common knowledge that a good 50 | | | | fortunes are due to poor ethics and poor reputations, a |
| percent of most companies' market value is made up | | | | high RQ is highly desirable -- especially for staffing and |
| of what accountants call intangible assets that are not | | | | recruiting companies whose business is built on |
| on the balance sheet. Assets like knowledge capital, | | | | relationships with clients, candidates, and employees. It |
| like the brand itself, relationships with vendors. And | | | | takes serious time and effort to build it, yet it can be |
| reputation is one of those intangible assets. But if you | | | | trashed quickly due to carelessness. And it is not |
| view reputation as a magnet that has the ability to | | | | quickly regained. In short, a good reputation is a |
| attract resources that are crucial to the bottom line, the | | | | profitable one, and should be a key component of your |
| degree to which you have a strong reputation or don't | | | | business strategy. |
| is going to definitely affect your ability to attract | | | | About VCG, Inc. |
| resources and to do well financially." | | | | Our focus is your success. Since 1976 staffing firms |
| The four principals of your company RQ | | | | have counted on VCG, Inc. for staffing software |
| The research conducted by the Dr. Fombrun indicates | | | | solutions that help them improve the productivity and |
| that there are four key principals of the reputation | | | | profitability of their operations. Founded by staffing |
| quotient: | | | | professionals and technologists intimately familiar with |
| - Distinctiveness: Strong reputations result with a | | | | the business of staffing, VCG is the staffing industry's |
| company's distinctive position in the minds of | | | | largest and most experienced dedicated staffing |
| resource-holders or consumers. Much of this attribute | | | | software development firm. VCG solutions today |
| is often related to the firm's brand positioning and | | | | power hundreds of successful staffing companies and |
| marketing efforts but its believability is directly linked to | | | | 12,000-plus staffing professionals throughout the U.S., |
| the other principals. | | | | Canada, Europe, Southeast Asia, and Australia. VCG, |
| - Authenticity: Strong reputations arise when | | | | C-PAS, StaffSuite, TempWare-V, WebPAS, |
| companies are genuine. Companies must 'walk the talk' | | | | StaffSuite WorldLink, and WebPAS WorldLink are |
| in their media relations and corporate performance and | | | | registered trademarks of VCG Inc. |
| governance. This is the area where many companies | | | | |