Fingrid CEO Jukka Ruusunen on reputation management: “Measure and improve”
Jukka Ruusunen, CEO of the transmission system operator Fingrid, leads a monopoly that operates at the heart of society. Fingrid must meet the expectations of its stakeholders on a daily basis, which is why it closely monitors its reputation from a multi-stakeholder perspective.
Fingrid, owned by the Finnish government and Finnish pension companies, is responsible for ensuring that the supply of electricity in Finland is both secure and cost-effective. Fingrid holds a natural monopoly on the transmission grid in Finland, and its operations are governed by government regulation.
Being a state-owned company and a key player in the market requires humility and entails a greater responsibility to understand the expectations placed on the company.
“A monopoly tends to manage things from the inside out. When it comes to reputation, you have to look in from the outside. Reputation doesn’t just happen on its own; it has to be managed and nurtured,” says Jukka Ruusunen.
As a company operating at the heart of society, we face high expectations from many different quarters. We must earn the trust of our customers, society, shareholders, and our workforce every single day.
Identifying key stakeholders and examining reputation from a multi-stakeholder perspective helps us understand the expectations placed on Fingrid.
“We’re thinking about how Fingrid appears when we view the company through the eyes of our stakeholders. What are the things that these stakeholders value?”
You can't build a reputation if you don't follow through
In Ruusunen’s view, reputation management is comparable to managing any other important matter: the underlying structure must be under control. That is why Fingrid regularly measures its reputation.
“You can’t manage anything unless you constantly monitor and measure it.”
Ruusunen recommends starting reputation management by identifying the company’s current reputation and its stakeholders.
“Reputation management should be approached by first acknowledging that a company has a reputation and an image. These always exist. Second, it is important to identify which stakeholders are the most important: for whom we are doing this work.”
“For example, landowners are a key stakeholder group for us. When we go somewhere and build massive power lines, we need to have a good reputation there and engage in dialogue about how to maintain that reputation.”
“When a large corporation and an individual come face to face, the situation is very delicate. All of these surveys are designed to gather feedback so that we can continue to improve.”
Our employees are key to building our reputation
“Reputation stems from interactions between people. It’s not companies that interact with each other, but people,” Ruusunen notes.
“Dialogue with the outside world is of the utmost importance. Dialogue takes place in everyday life, every day, between people. It requires a very strong and courageous culture that can also tolerate criticism.”
Ruusunen believes it is important for employees to view the company from the outside, through the eyes of various stakeholders. For this reason, Fingrid engages in discussions with its employees about its reputation.
“A company’s reputation is shaped by the actions of its entire staff. It’s about how Fingrid comes across in its day-to-day operations.”
In 2020, Fingrid was named one of Finland’s best places to work. In Ruusunen’s view, these positive results shouldn’t go to their heads; instead, they need to keep moving forward.
“The bar is being raised in terms of both responsibility and reputation. Next year has to be better than this year.”
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Text: Tuuli Pohjola
Video production: Vesa Koivunen, Harri Leinikka, Tuuli Pohjola
