Globeone study: How many Swiss companies are "Purpose Ready"?
The majority of Swiss companies meet the requirements for being able to position themselves credibly via a socially relevant purpose. This is shown by the new "Purpose Readiness Study" of the Zurich-based management consultancy Globeone.
As part of a study, the management consultancy Globeone investigated how credibly Swiss companies position themselves How credibly can Swiss companies position themselves? For this purpose, the "Purpose Readiness Index" (PRI) was developed, which consists of 15 purpose-relevant image attributes in five image dimensions.
Accordingly, the PRI created on the basis of the survey results indicates, on a scale of one to one hundred and in four levels, how credibly companies and institutions can represent a socially relevant corporate purpose in the public perception. Companies with a PRI score of less than 50 often lack the appropriate basis for credibly communicating their purpose, while companies with a score above 70 have a high purpose credibility that is hardly overshadowed by negative associations. The current PRI ranks 60 leading Swiss companies.
Almost two-thirds are "Purpose Ready
The study shows that 64 percent of Swiss brands can be described as "purpose ready. They show no major deficits in purpose-relevant image dimensions. Five brands (eight percent) are considered fully credible and thus have a very good basis for successful purpose activation.
With a score of 72.3, Victorinox is in first place in the Purpose Readiness Index (PRI). Migros, Geberit, Lindt & Sprüngli and Coop are also among the leaders with PRI scores of more than 70. Around 36 percent of the brands surveyed are struggling with credibility problems, which also make them more susceptible to greenwashing accusations.
"Retailers, technology brands, cooperatively organized retail companies and traditional consumer brands in particular are proving to be particularly credible in terms of purpose-centric positioning in the public perception," says Carina Hauswald, Managing Partner at Globeone. "Many PRI winners certainly also benefit greatly from their everyday proximity to customers."
Consumers take a critical view of companies
In comparison on the first Purpose Readiness Study for Switzerland from 2020 However, it is noticeable that the top performers in the Purpose Readiness Index (PRI) no longer achieve quite such high scores: Second-placed Migros, for example, lost 6.5 index points, PRI winner Victorinox 5.1 index points. Mobiliar lost 6.2 index points and slipped from fifth to 15th place.
"The decline in ratings is probably also a sign that Swiss consumers are generally measuring companies more and more critically in terms of their purpose promises - a trend that is also increasingly evident in other industrialized countries," says Hauswald. "There is also an increased demand on particularly credible brands to constantly improve their socially relevant contribution, to provide concrete evidence of it and to communicate it transparently." Even brands that score fully on future viability, sustainability, authenticity and social relevance would have to live their purpose around the clock and make it clear in order to maintain or enhance their reputation.
Second study focuses on statements
The Purpose Readiness Index uses various image dimensions to show how ready a company is to position itself credibly with a purpose. In addition, Globeone wanted to find out how the statements of Swiss companies that already communicate a purpose are received by the public. Even the best foundation for purpose communication is of no use if the formulated statement misses its mark and is not received by the intended target groups.
On the results of the Purpose Statement Study it goes this way.
The results of the largest survey of the Purpose credibility of leading Swiss companies will be presented on gfm Webinar "Corporate Purpose - the most credible Swiss brands 2023". discussed with Simon Aschermann and Carina Hauswald, Managing Partners at Globeone. Interested parties will learn more about the how and what of purpose-driven brand positioning and get insights and answers from Nadja Lemke, Senior Vice President Global Branding & Marketing at Schaeffler.
For those who decide at short notice here to the registration.
