Most Australian Corporates Stay Strong While Banking Sector Reputations Plummet; Annual study
Sydney, Australia, April 16, 2019 —This year, Woolworths saw large improvements within these individual dimensions, now ranking first for Citizenship. Bendigo and Adelaide Bank also rose seven places to rank 11th on overall reputation, an improvement that Freedman said was due to strong performances in the individual measurements of Citizenship and Governance. “This proves that you can be a bank and still have a strong reputation if you are focused on reputation drivers that resonate with customers and increase trust,” he said.
By contrast, AMP ranked last across all the seven dimensions. BHP also saw a sharp fall in overall reputation, falling from 30th last year to 45th overall in this year’s rankings.
“In the past 12 months we’ve seen many issues raised about corporate behaviour and consumer trust. As a result, the reputations of our major banks and some financial services organisations have taken a major hit. But our research clearly shows that those corporations that consistently stay focused on strong performance across all the reputation drivers can not only weather these storms but come out on top. The banking sector has a long road to recovery and could learn a lot from those with consistently strong rankings, like Qantas and Air New Zealand,” he said.
“Similarly, those organisations that are listed in the bottom 10 rankings along with the banks, such as Rio Tinto, ATO, Foxtel, Telstra and News Corp, would also do well to examine their reputation approaches carefully, or we may continue to see the divide between weak and strong reputations widen,” Freedman concluded.
Data was collected online between 21st February – 14th March 2019, from a total sample n= 10,758. Adults aged 18 and older are surveyed as part of the RepTrak® in Australia, with results weighted according to ABS to ensure they represent appropriate gender and age groups. To qualify to rate a company a respondent must indicate they are very or somewhat familiar with the company. The 60 companies included in the Australia RepTrak® 2019 are sourced from the IBISWorld Top 2,000 Company list, which ranks companies by revenue. The reputation scores (RepTrak® Pulse scores) are based on four questions relating to trust, esteem, good feeling, admiration and respect. Respondents rate each statement on a 1-7 scale which is used to calculate the over reputation score ranging from 0 to 100. Reputation scores are then used to create the ranking. In addition to collating overall reputation, RepTrak® also measures how Australians feel about each of the 60 companies according to seven parameters; Products/Services, Innovation, Workplace, Citizenship, Governance, Leadership and Performance.
About Reputation Institute
Reputation Institute powers the world’s most reputable companies. By tracking and analysing stakeholder perceptions, we unleash the power of reputation to enable leaders to build better companies. Our RepTrak® model analyses the reputations of companies and is best known as the Forbes-published Global RepTrak® 100. Underlying the model is the RepTrak® methodology, the global gold standard for measuring reputation. Learn more at:
For more information, contact Oliver Freedman, Reputation Institute, +61 0434-562-623 or riAUNZinfo@reputationinstitute.com
The full list of 2019 rankings follows.