Your reputation is the foundation on which your profits are built. No one knows this more than CEO C. Richard Panico, of the consulting group Integrated Project Management (IPM). IPM’s sterling reputation is the driver for their remarkable, consistent growth.
In this short video, part of the Return on Values research project, Panico and his team share reputation builders – three concepts that help you create and sustain an organization’s exceptional brand.
How to use this video: Watch this video with your senior leadership team, then use the questions below to launch a discussion on your own reputation builders.
In this video, Panico and his team tell three stories that illustrate the IPM approach to building a strong reputation. The key reputation-building concepts are:
- Make honesty non-negotiable: Hire people who are honest all the time, without exception.
- Make it safe to tell the truth: If honesty is crucial to reputation, then employees have to feel it is safe to confess mistakes.
- Make tough decisions ethically; then tell the story: Difficult ethical decisions reflect the company’s moral compass and set a positive example for team members.
Discuss the video with your team:
- While the video highlights one company’s three “keys” to building a profitable reputation, your company may have entirely different reputation builders. What are they? How do you know? How are they enforced within your company?
- What is the value of honesty and integrity for your company? Can you think of a situation where your company’s reputation made the difference?
- When was the last time you, as a leader, were tempted to stretch the truth? When are you most likely to compromise honesty? When money is on the line? When feelings might be hurt? When your reputation is being threatened? As an individual, identify potential weak spots in your own intention to be honest. How will you address this?
- When do your team members find it most difficult to be honest or to act with integrity? As a leadership team, discuss a recent situation where a mistake was made. How did the error come to light? How did the people involved and their leaders respond?
- What stories does your company tell around ethical decision making, honesty, or integrity? Should you be telling these stories more publicly? Does your company have stories that might help team members make decisions or determine responses?
Share your stories: Leave a reply below to tell us about your reputation builders.