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CEO's Letter CEO: Elliot H. Clark Elliot.Clark@SharedXpertise.com Managing Director: Faye Holland Faye.Holland@SharedXpertise.com Executive Editor: Debbie Bolla Debbie.Bolla@SharedXpertise.com Managing Publisher: Gale Tedeschi Gale.Tedeschi@SharedXpertise.com Vice President of Research: Elizabeth Boudrie Elizabeth Boudrie@SharedXpertise.com Vice President of Marketing: Bill MacRae Bill.MacRae@SharedXpertise.com Associate Editor: Audrey Roth Audrey.Roth@SharedXpertise.com Contributing Writers: Russ Banham, Katie Kuehner-Hebert, Brent Skinner Webmaster: Michael Fernandez webmaster@SharedXpertise.com The Cost of a Bad Reputation It amazes me that the HR departments of the world are not more involved in corporate responsibility issues. Data emerges every day showing that HR departments can't do their jobs effectively in a company that has recently experienced scandal. And, by the way, I am not sure that HR shouldn't suffer as a result of a scandal. One of the biggest issues of our time is the question of who owns ethics in a major organisation. Does HR own it or does the corporate responsibility function? In some companies the HR function and the CR function now merge into one position. This is the role of Alison Quirk at State Street Corporation; she is executive vice president and chief human resources and citizenship officer. We should look inside the costs and impacts of bad reputation on a company. SharedXpertise recently conducted a study of both employed and unemployed workers on the impact of reputation in the United States. We believe, given the social consciousness of European and APAC workers, the results would be similar or even more pronounced. The study, sponsored by Allegis Group Services, interviewed 1,010 individuals. Of this group, 552 were employed full time and 448 were unemployed, students, or retired. See specific demographic data below. Subscription services: For subscriptions, renewals, changes, and back issues, e-mail subscriptions@SharedXpertise.com. About HRO Today Global magazine HRO Today Global Magazine [ISSN #15413551] is published [4x] by SharedXpertise, LLC © 2013. All Rights reserved. URL: www. HROGlobal.com. Editorial correspondence and press releases: Dirk Olin, Editorial Director, SharedXpertise, 123 S. Broad Street, Suite 1930, Philadelphia, PA 19109 or editorial@SharedXpertise.com. All letters should include the writer's e-mail address and/or phone number. The results are astounding, and should be considered in all markets. When asked about the likelihood of accepting a job if offered one by a company with a bad reputation if the respondent was unemployed, 69 per cent said it was not likely. While someone may accept a job because they need the work, clearly the choice between a company with a recent scandal and any other job would lead to declination. Business and advertising correspondence: SharedXpertise, 123 S. Broad Street, Suite 1930, Philadelphia, PA 19109, 215-606-9520. Subscriber services: SharedXpertise, 123 S. Broad Street, Suite 1930, Philadelphia, PA 19109, 215-606-9520, Fax: 276-800-2701 or e-mail subscriptions@SharedXpertise.com. Reprints: contact Foster Printing Service, 866-879-9144 or sales@fosterprinting.com. Postmaster: send address changes to SharedXpertise, 123 S. Broad Street, Suite 1930, Philadelphia, PA 19109. Fax: 276-8002701. Canada post: Publications Mail Agreement #40612608. Canada Returns to be sent to Bleuchip International, P.O. Box 25542, London, ON N6C 6B2. This magazine cover is printed on 80# Influence Recycled gloss and the inside pages on 50# Influence Recycled gloss, both with 10% post-consumer recycled content. [4] HRO TODAY GLOBAL | AUTUMN 2013 We then asked employed workers if they received an offer from a company with a bad reputation, what salary increase would be necessary in order to accept the job? Thirty-three per cent would need in excess of a 50 per cent increase and 31 per cent would just not accept. We know that most offers are in the "up to 20 per cent" range, so effectively 64 per cent of employed people are not reasonably available for hire.