Putting Your Company’s Reputation (and profits) on the Line

By Carola Mittag

Posted Oct 15th, 2018 in Tips & News

How Well Does Your Company Manage Its Reputation?

Putting Your Company’s Reputation (and profits) on the Line

A 2014 study from Deloitte found that almost 90% of executives regarded Reputational Risk (losses resulting from damages to a firm’s reputation) a key business challenge. Developing trust and building a strong reputation has become more important than ever to remain profitable in today’s increasingly competitive landscape. 


So what does safety have to do with reputation and profit?

A] A company with a reputation for quality and a solid safety record can charge more for the same product than their competitors because customers put a price premium on quality products and services that give them positive experiences.

Safety:

  • Protects and enhances brand image and brand value
  • Reduces business costs and disruptions
  • Strong Safety Culture → Fewer Incidents → Higher Profits

B] Employees will leave a company if they believe it has a weak brand and doesn’t demonstrate a safety conscience.

Safety:

  • Helps demonstrate that a company is socially responsible
  • Helps maximize productivity of workers
  • Strong Safety Culture → Better Talent Retention → Higher Profits
     

Your business can enjoy significant benefits by investing in safety. Simple safety improvements in JMA (just manageable amounts) can increase competitiveness, profitability and employee motivation. Safety should be the cornerstone of your brand identity and reputation. It may well be the game-changer to your company’s success.


If your business needs help analyzing, creating, implementing, or just updating a safety program, WSG Safety experts are here to help, every step of the way. With years of experience we are happy to help you find the best solutions to any safety concerns. We welcome the opportunity to answer any questions you have, either by phone or the form on this page. 

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