Financial Health of Company Not Priority for Prospective Employees
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Financial Health of Company Not Priority for Prospective Employees

Despite high profile bankruptcies like Enron, a year-long recession, and layoffs, 77 percent of adults still do not consider a company’s financial health as a top priority in determining its reputation as a place to work.

Paul Holmes

Despite high profile bankruptcies like Enron, Kmart and Global Crossings; accounting scandals, a year-long recession, layoffs and an unpredictable stock market, 77 percent of adults still do not consider a company’s financial health as a top priority in determining its reputation as a place to work, according to a new study from The Cherenson Group, a New Jersey-based public relations firm.
 
The most important factors in determining a company’s reputation as a place to work are the way employees are treated (36 percent) and the quality of the company’s products or services (27 percent). The findings support The Cherenson Group’s 2001 Reputation Survey in which 78 percent of adults said they would rather work for a company with an excellent reputation than for a company with a poor reputation, even if they were offered a higher salary.
 
“Our first study indicated that people would actually accept a lower paying job, in order to work for a company with an excellent reputation,” said Michael Cherenson, vice president. “This study indicates once again that nearly 8 in 10 people think with their hearts and not just their wallets. Our 2001 study clearly indicated that a company’s reputation is an asset that needs to be developed and secured. This year’s study provides a deeper understanding of that asset and shows an obvious correlation between reputation and relationships, specifically the relationship between employee and employer.”
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