Good reputations are like insurance policies, money in the bank for a rainy day

"Seeing the list of best companies, some companies are undoubtedly wondering why superior performance at their company has gone unnoticed."

According to Bührmann, it could be that they have been invisible, hiding their business success and good works. Or it could be that competitors have defined their reputation for them. There is a saying in the public relations business: "If you don't tell your story, someone else will."

"Our mission as public relations professionals is to ensure that perception is aligned with business reality," she says. "The proliferation of information and media, intense public scrutiny and constant corporate change has created confusion, distrust, and cynicism that continues to erode the reputations of businesses with their employees and external publics."

Why care...unless reputation contributes to a company's business or stock performance. It does. "Business experience and research has demonstrated time and again that a good reputation helps a company sell its products, recruit the best and the brightest, and attract the most desirable business partners," believes Bührmann.

Convincing sceptical third parties is the primary - and toughest - job of public relations, particularly when things are not going well.

"A strong reputation is like an insurance policy, money in the bank for a rainy day," she says. "It probably won't help a company avoid a nasty story in the newspaper, but it may keep it to a one-day story rather than the continued haemorrhaging in the media that can take a toll on a company's sales, stock price and strategy."

Building the relationships that preserve company reputations in good times and bad requires proactive communications. There is a direct correlation between high levels of corporate equity and the frequency with which a company's publics hear about it.

"Communications and relationships have taken on new and increasing importance as intangible assets represent more and more of companies' total worth. Not just reputation, but intellectual capital, employee commitment, public trust, and corporate brands are corporate assets that must be developed and preserved for business success," concludes Bührmann.