A CEO’S reputation is a key part of a company’s success. But how about specifics? In a recent survey of more than 1,700 executives worldwide by Weber Shandwick and KRC Research, we sought out the perspectives of those closest to the CEO.
We found that nearly one-half of a company’s corporate reputation and market value are attributable to its CEO’s reputation. Half of the executives expect the CEO’s reputation to matter even more over the next few years. A large majority say that a positive CEO reputation also attracts new employees and helps retain them. The most-valued attributes include:
1. Humility. Only one out of four CEOs in our study was described by their colleagues as humble. Yet, we found that highly regarded CEOs are nearly six times as likely to be described as humble than less highly regarded CEOs.
Humble CEOs motivate and empower those around them, share employees’ values and listen well. They rely on their senior teams to validate strategy. They build cultures that are about the whole, not individual stars.
2. Visibility. A successful CEO can’t be a wallflower. A hefty 81percent of global executives believe that for a company to be highly regarded, the CEO needs a visible public profile. Admired CEOs are four times more likely to be skilled at engaging the public than those with less ability. CEOs are the purveyors of the company’s narrative, which must stand out from the flood of competing information.
3. Persuasiveness. Which of the many communications channels are most important? A large majority of executives cite speaking engagements, especially industry-specific ones. Also important are building relationships with the media, using the company website strategically and identifying thought leadership platforms, including social media. Along with public visibility and engagement, however, comes risk. A CEO’s reputation can cut two ways. The smart CEO takes advantage of the positives but is wary of the negatives. By virtue of digital communications, we all have in some sense gone public. But some CEOs are more public than others. It’s time to embrace engagement—but humbly.
Leslie Gaines-Ross is chief reputation strategist at Weber Shandwick, and author of Corporate Reputation: 12 Steps to Safeguarding and Recovering Reputation.
Leslie Gaines-Ross