We’ve been advocating that companies hire a Chief Reputation Officer (CRO) for years— but don’t just take our word for it. This past July, the World Economic Forum declared a Chief Trust Officer to be the next C-Suite role that every company needs. We can’t help but see the parallels.
Whoever reviews, redefines and reconstructs trust in your company has a direct link in the evolving chain of managing your solid corporate reputation.
According to the 2022 Edelman Trust Barometer, 63 percent of people believe that business leaders lie to them. A year earlier, the 2021 Edelman Trust Barometer showed that 40 percent of customers stop doing businesses with brands they love if something happens to damage their trust in them. One proactive approach to navigating negative perceptions is to encourage your evolving team to become Certified Reputation Protectors with our eLearning program ReputationU.
Your Chief Reputation Officer
At its core, your CRO keeps tabs on stakeholder perceptions and helps manage your company’s reputation. Because it is generally not if, but when a PR incident will hit, a CRO works with your chief marketing officer, among others, to help maintain your good reputation.
Your Chief Trust Officer
A CTO should work closely with your CRO. A CTO’s job is to ensure your company has ethical intent behind its decisions and advocate for customers’ needs regarding data and trust. These decisions can be dictated by a well-crafted policies and procedures that address such matters of trust.
By helping to deepen bonds with customers, employees and partners, a CTO is instrumental to your good reputation. By the end of 2023, the International Data Corporation predicts that half of Global 2000 companies will name a CTO to orchestrate trust across multiple business functions.
Will your new CTO be prepared to work with your CRO to manage your reputation? The RepU Certified Reputation Protector program can provide solid guidance and skills cross-team to help protect your brand and the bottom line, while earning trust.