Credit unions and cornflakes: the things we trust the most

RepTrak 2018 study finds Kellogg’s and Aldi have the top reputations among Irish people

Credit unions are the clear reputational winner, according to RepTrak 2018. Photograph: Collins

Credit unions are the clear reputational winner, according to RepTrak 2018. Photograph: Collins

 

Credit unions are the most highly regarded organisations in the State, overtaking An Post in an annual reputational ranking of the largest and most familiar organisations.

The Reptrak 2018 study, released on Thursday by communications group The Reputations Agency, placed Kellogg’s second out of 100 organisations in terms of the public’s trust, admiration and esteem, with a score of 81.1 compared to 82 for credit unions. Aldi came third with 80.2.

An Post saw a slight decrease in reputation, dropping a point to 78.5, which saw it slip to eighth position this year from first in 2017.

Niamh Boyle, managing director of The Reputations Agency, said reputation scores generally rose in the Republic this year, while scores in larger markets such as the UK and the US declined for the first time since the end of the recession. Pointing to “a growing crisis of trust globally” Ms Boyle said businesses and other bodies are more widely scrutinised based on their alignment with social causes, how they behave, and their organisational values.

Food retail was the highest-ranking sector in this year’s Irish study, with financial services taking the bottom spot.

Excellent reputation

The study – which ranks companies on a Reputation Pulse score from 0-100 based on levels of trust, esteem, admiration, and good feeling towards the companies – found that consumers in the Republic are nine times more likely to purchase a product or service from, and seven times more likely to work for, an organisation with an excellent reputation than one with a poor reputation. Only 9 per cent of people will buy from an organisation with a poor reputation, according to the research, while 80 per cent will buy there if the reputation is excellent.

“The results in Ireland bode well for business as our study shows that if an organisation improves its Reputation Pulse score by five points, the number of people willing to buy its products or services goes up by 4.5 per cent, delivering a very positive business outcome,” Ms Boyle said.

Reptrak surveyed more than 7,000 members of the public between January 5th and March 5th this year.

The Top 10 Companies

1. Credit Unions – 82.0

2. Kellogg’s – 81.1

3. Aldi – 80.2

4. Bord Bia – 80.0

5. Boots – 79.5

6. Tourism Ireland – 79.1

7. Toyota – 78.9

8. An Post – 78.5

9. Dublin Airport – 78.4

10. Kerry Group – 77.7

Source: RepTrak 2018