What Does it Take to Win on Reputation in Russia?
About the Study:
Global RepTrak is a global survey based on more than 230,000 ratings from the General Public across the 15 largest economies, collected in January-February 2018.
Russia RepTrak is a study based on over 2,700 ratings from the General Public in Russia, collected in Q3 2018. The studies access the reputation of global and Russian companies, respectively. In 2018 we look at both sets of research to understand the reputation dynamics of Russian and Multi-National companies in Russia.
Top 10 Russian Companies
For the second year in a row, Yandex is the most reputable Russian company, despite a decline in reputation. While Yandex leads in emotional perception, when it comes to the 7 dimensions of reputation, 2nd ranked Kaspersky takes the lead. Among the Top 10, no company attains an excellent reputation and only the top 8 have a strong reputation in their home country.
Figure 1: 2018 Russia RepTrak® Top 10 Russian Companies
Top 10 Multi-National Companies
Sony rises to first place with a 2.3-point increase in reputation, while last year’s #1, Volkswagen, drops to 13th place. Six companies rise in rank and Nestlé joins the Top 10 in 2018. Unlike the Russian companies, in Russia, 22 Multi-National companies have an excellent reputation. Russians on average consider the reputation of Multi-National companies higher than that of Russian ones, which conflicts with global trends of home country advantage. In 2018, Multi-National companies are 15.3-points ahead of Russian companies when it comes to corporate reputation.
Figure 2: 2018 Russia RepTrak® Top 10 Multi-National Companies
What We Learned from Our 2018 Data
Perception of Russian companies has declined. In 2018 the reputation of Russian companies decreased by 4.7-points which is over and above the world’s average decline of 1.4-points. Contrary to their perception of domestic companies, Russians place trust in Multi-National companies, giving them an average reputation score at 15.3-points higher than that of Russian companies.
What drives reputation differs by place of origin. Products/Services and Governance continue to be key drivers for Russian companies in 2018, while Innovation is replaced with Citizenship. Russians are placing more importance to Russian companies’ ability to act as good corporate citizens and deliver on Corporate Responsibility, rather than on Innovation. On the other hand, Innovation alongside Product/Services and financial Performance are key drivers of reputation for Multi-National companies. Clearly, different reputation strategies apply to Russian vs. Multi-National companies in Russia.
In terms of reputation, key stakeholders in Russia are consumers, the state, and business partners. It is important to measure and understand reputation dynamics among these stakeholders in order to manage it in an over-communicative digital world and especially in times of a reputation crisis.
Access our complete Russia RepTrak report to learn more about business and reputation in Russia. Or, contact us to learn more about your company’s reputation.
The 2018 Russia RepTrak release is a partnership between Reputation Institute and EmCo, a Russian independent consulting company founded in 2000.