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CEO reputation continues to be a premium currency: Weber Shandwick, KRC Research report
A CHIEF executive officer's (CEO) reputation continues to be a premium form of currency and wealth in an economy where companies trade on their reputations everyday, said a report conducted by Weber Shandwick with KRC Research.
Titled The CEO Reputation Premium: Gaining Advantage in the Engagement Era, it found that on average, Singaporean executives attribute 41 per cent of of their company's reputation to the reputation of their CEO.
They also ascribe 39 per cent of their company's market value to their CEO's reputation, while 37 per cent of Singaporean executives expect that CEO reputation will matter even more in the next few years.
The majority of those surveyed felt that a strong CEO reputation also attracts investors, provides crisis protection, attracts new employees, retains talent as well as generates positive publicity.
Of the Singapore participants surveyed, more than half said that they accepted their jobs because of the CEO's reputation.
Fifty-seven per cent said that they were influenced to stay in their jobs because of it.
More than 80 per cent said that it is important for CEOs to have a visible public profile for a company to be highly regarded.
Almost half of the executives thought that their CEOs are more willing to talk to the media today than several years ago.
Three in five also believe that CEO visibility has an equal likelihood of improving and hurting company reputation.
Singaporean executives said that it is important for CEOs to partake in external relationship-building and shine spotlights on their companies, noted the report.
Taking a public stance on policies or political issues are thought to be more inappropriate than important, it added.
The survey was conducted among 1,700 executives, managers up to the C-suite (excluding CEOs), from 19 countries. It included 100 Singaporean executives who worked in companies with revenues of US$25 million or more.