The reputation of companies in the chemical industry has an exceptionally strong influence on the general public’s behavior and trust
Reputation&Trust, which focuses on companies in the chemical industry, shows that reputation has a strong influence on the general public’s behavior toward these companies. Companies in the chemical industry are expected to demonstrate transparency and take responsibility for the environment and society.
T-Media surveyed a total of 16 leading B2B and B2C companies in the chemical industry in the fall of 2021. This second edition of the study reveals that, for the chemical industry companies surveyed, a one-unit change in reputation corresponds to a 1.42-unit change in stakeholder support—that is, in how stakeholders behave toward the company. The corresponding figures are 1.25 in the health and social services sector, 1.20 in the food industry, and 1.27 in the travel and hospitality sector.
Stakeholder support refers to the average level of trust that Finns have in a company, as well as their willingness to support the company during a crisis, recommend it, invest in it, use its products or services, and work for it.
“This slope coefficient is exceptionally large and therefore a significant finding. In practice, this means that in the chemical industry, a company’s reputation has a huge impact on people’s trust in companies in the sector, as well as on their willingness to buy the companies’ products, recommend them, or apply for jobs there. We are, therefore, talking about genuinely business-critical factors. What’s interesting here is that even though not all of the companies studied have direct interactions with the public, the impact is nonetheless this significant. “It’s often assumed that the public has no perception of B2B companies or that such perceptions don’t matter. However, the results of this study refute that notion,” says Elisa Runsas, Sales Lead at T-Media and an expert in data-driven management.
“Responsibility is emerging as one of the most influential factors. In this study, responsibility refers to an organization’s perceived responsibility toward the environment and society. For example, plant-based heavy chemical industry operators may be associated in the public mind with environmental risks, while the pharmaceutical industry, on the other hand, is directly linked to people’s health. In this way, organizations come very close to people, and that is why players in the chemical industry are expected to operate with a higher degree of responsibility than those in other sectors.”
On average, companies in the chemical industry have a good reputation
The reputation of the chemical industry companies examined in this study is, on average, good. The organizations studied included companies with good reputations and anseende moderately anseende : none received a poor reputation rating.
Companies in the chemical industry receive their highest ratings in the areas of finance and products and services. On average, people are willing to purchase products and services from companies in the chemical industry. Companies in the chemical industry are also generally viewed as well-managed and capable of innovation. The lowest ratings are given in the area of interaction.
“Openness and transparency in operations, together with social responsibility, are, on average, factors that promote positive behavior among people. The value for money of products and services—seen as a strength of companies in the chemical industry—is also emerging as an important factor,” says Rebecca Kilpeläinen, Research Manager at T-Media.
This is how we conducted the study
The goal of Reputation&Trust in the chemical sector was to assess the reputation of chemical industry companies operating in Finland among the Finnish public. The organizations’ reputation was measured using eight criteria: governance, finances, leadership, innovation, engagement, products & services, workplace, and corporate responsibility.
The survey examined a total of 16 key B2B and B2C companies in the sector, and data was collected via an online questionnaire between September 24 and October 24, 2021. A total of 2,390 Finns participated in the survey.
The study’s target group consisted of Finns aged 15–65 nationwide (excluding the Åland Islands). The sample was weighted to be representative of the population by gender, age, and region of residence.
For more information:
Elisa Runsas, Sales Lead
+358 50 468 8849, elisa.runsas@reptrust-staging.fi-p.seravo.com
Rebecca Kilpeläinen, Research Manager
+358 50 467 9777, rebecca.kilpelainen@reptrust-staging.fi-p.seravo.com
