Transparency and openness are the best ways to build reputations and mitigate risk, said investor relations experts at Private Equity International’s IR Forum on Wednesday.
“Your reputation is your license to do business,” said one global public affairs professional at a panel discussion on building a reputation that aligns with your company’s objectives. “[For] every investment decision, every proactive [or] reactive public statement, public affairs professionals are actually brought into the investment and deal-making process early on so we can help the teams think about whether there’s something that they’re missing that could have some kind of reputational risk.”
The issue of transparency has risen in prominence with the growth of sites such as Glassdoor – which allows workers and jobseekers to post anonymous comments about companies – and the ubiquitous networking platform LinkedIn.
The panel agreed that whether it relates to press conferences, investment strategies or virtually any other aspect of building and maintaining reputations, transparency and openness in telling the story properly is good for the welfare of the business.
Private Equity International’s Investor Relations, Marketing and Communications Forum took place in New York this week.