Out of Touch Companies.

Reportedly, more than half of businesses today are “out of touch” and need to be focusing on and/or prioritising their staff, customer’s and quality of service provided rather than wider social issues. 

With everything that has occurred over the past two years and everything in between, companies appear to be losing sight of their core values and internal culture that their businesses were once founded upon.

In a 2022 survey of 2000 adults, conducted by Hanbury Strategy and Stack Data Strategy, we found the following statistics illuminating:

  • 56% of respondents believe that businesses do not understand and reflect their priorities.
  • 9% of respondents said that businesses shared their values.
  • 70% said that their bosses should focus on communicating how they can better treat their employees or improve services for their customers when they make public statements.

Alternatively, the importance of prospering a company’s CSR or ESG still exists and should not be disregarded. However, the statistics have highlighted that:

  • 44% of respondents believe that businesses need to address environmental, social and governance issues but should prioritise employees and customers.
  • Further research found that 50% of business Chief Executives are more likely to utilise media opportunities to speak about social and political issues rather than talking about their customers or employees.

Paul Stephenson, the Director of Hanbury Strategy stated that businesses can rebuild public trust by focusing on the “bread and butter”. These are coined as issues that people care the most about, such as jobs, career advancement, pay and the impact of business on the economy.

Furthermore, there is a large grey area between what people think businesses should do and what they prioritise talking to the public about, especially in today’s market as we all enter a period of rising inflation and cost of living.

In conclusion, we believe that this is a tricky time for business owners to navigate an appropriate equilibrium between talking about and prioritising these “bread and butter” issues whilst continuing to do their part towards talking about social and environmental issues. 

However, the consensus also shows that a significant proportion of our population acknowledge that businesses have been under increased pressure due to the pandemic and that they are trying their best in a difficult time.

Here at HOED Research understanding people and providing actionable insights to enhance your business is our bread and butter. This is inclusive of but not limited to: 

  • Staff Engagement Surveys.
  • Onboarding Reviews.
  • Consumer Insights, and
  • Mystery Shopping – arguably the most valuable tool for businesses in order to accurately analyse the quality of service being provided by staff and/or to gather specific information about products or services.

2022 is the year to prioritise your team as they represent your business and ensure your customers receive an outstanding Customer Experience.

If you have any questions or queries, click the button below OR give us a call today!

Contact:
Richard (Managing Director) Email: 
richard@hoed.co.nz