Electronics chain JB H-Fi has been named Australia’s most reputable business in research company AMR’s 2016 Corporate Reputation Index. JB Hi-Fi was up from third last year to claim top spot, but it was Woolworths that was arguably the real story plummeting 23 spots to be 40th on this year’s list.
AMR’s index is based on the views of Australian consumers aged between 18 and 64. Respondents are asked to give the companies an overall assessment on reputation, as well as rate them on their products and services, innovation, workplace, citizenship, governance, leadership and performance.
As Woolies plummeted in this year’s rankings, its competitors Westfarmers (Coles) fell slightly YOY from 13th to 18th spot while ALDI rose one spot to be seventh on this year’s list.
Other notable movements were Qantas (4th position) was considered our most reputable airline (Virgin was 11th), Toyota our most reputable car manufacturer (2nd) and Samsung our most reputable electronic purveyor coming third.
This year’s top 10 included:
1) JB Hi-Fi (last year third)
2) Toyota (last year first)
3) Samsung (last year second)
4) Qantas (last year 9th)
5) Mazda (last year 10th)
6) Air New Zealand (last year 5th)
7) ALDI (last year 8th)
8) Devondale Murray Goulburn (New)
9) Apple (last year 11th)
10) Hewlett-Packard (last year 14th)
The media players in the top 60 were: Optus (28th), Telstra (50th), Foxtel (54th), Fairfax (59th) and News Corp (60th).
Other bad news stories was 7-Eleven falling 20 spots to number 36 while Bendigo Bank fell 15 spots to 22nd.
Commenting on Woolies tribulations, AMR’s managing director, Oliver Freeman, said: “Woolworths has really struggled in the individual measurements of leadership and financial performance in particular this year.
“In the past, its overall financial performance helped maintain a strong reputation. But once this started to decline, there was not enough reputational capital to avoid a very large loss of trust among the Australian public.”
Freedman said the research showed that Australian consumers not only rated JB Hi-Fi’s products and services highly, but felt it was a good corporate citizen that treated its employees well.
“This research shows that respect for an organisation is developed well beyond the perception of getting a good deal in a retail environment,” he said. “Being a responsibly-run company that is open and transparent, and treats its employees well is also vitally important to Australians when it comes to overall reputation,” he said.