KONE and Fazer are the most reputable companies in 2024
Reputation&Trust conducted by T-Media reveals that KONE and Fazer are the companies with the best reputations among Finns in 2024. Ponsse returned to the top three after a one-year hiatus.
T-Media surveyed the reputation of companies operating in Finland in June and July. A total of 10,575 Finns responded Reputation&Trust this year’s Reputation&Trust. Of the top three companies, KONE received a reputation score of 3.95, Fazer 3.93, and Ponsse 3.90. The survey used a five-point rating scale from 1 to 5.
The 10 companies with the best reputation and the 10 with the worst reputation in theReputation&Trust survey. The survey, conducted in June–July, included 10,575 Finnish respondents. A reputation score is calculated for each company as the average of eight critical reputation sub-areas.
The top three companies in the study—Kone, Fazer, and Ponsse—are all family-owned or controlled by a family.
“ThroughoutReputation&Trust, family-owned companies have often been among those with the best reputations, which speaks to the importance of family businesses in Finnish society and the economy,” says Riku Ruokolahti, Director of Development at T-Media.
“Although family businesses are a significant part of the business community, the results can be described as overrepresentation. Not even the challenges of the operating environment have affected Kone’s solid reputation. For many family businesses, managing their reputation is part of the company’s historical operating culture, and this is clearly evident in our research results as well.”
Care companies that have been mired in reputation crises have dropped off the list of those with poor reputations
At the bottom of this year’s list of companies with poor reputations are the Chinese-owned e-commerce firms Shein and Temu. Shein’s reputation score of 1.85 is one of the lowest in the history of Reputation&Trust.
In addition to Temun, new entrants to this year’s list of companies with poor reputations included the discount store chain Kärkkäinen, which recently changed its CEO, and the ride-hailing company Wolt, which has been in the news over the terms of its couriers’ contracts.
“It’s interesting that care companies have disappeared from the list of companies with a poor reputation. As recently as last year, Esperi Care and Attendo were on the list of companies with a poor reputation; they ended up there during the reputation crisis in the private care sector that began in 2019 and was fueled by scandals,” Ruokolahti says.
In the survey, the energy group Fortum saw the biggest rise in reputation, while the Finnish bus operator Onnibus recorded the biggest drop.
The grocery retail sector in Finland is exceptionally well-regarded
The S Group, the K Group, and Lidl have managed to remain on the list of reputable companies for several years now. The S Group and the K Group managed to further improve their reputation compared to the previous year.
“The retail sector has succeeded in meeting consumer expectations during and after the COVID-19 pandemic. The list of Finland’s most prestigious companies is marked by a strong presence of grocery retailers. In Finland, the top ten most prestigious companies account for over 90 percent of the grocery market share. In Sweden, the corresponding list includes only one grocery retailer,” says Ruokolahti.
This is how we conducted the study
The aim of the Reputation&Trust survey was to assess the reputation of companies operating in Finland among the Finnish public. Data for the survey was collected via an online questionnaire between June 3 and July 8, 2024.
Organizations were evaluated using T-Media’s Reputation&Trust, in which an organization’s reputation score is calculated as the average of eight different categories. The areas are corporate governance, finance, leadership, innovation, interaction, products & services, workplace, and responsibility. The study used a five-point rating scale (1–5).
A total of 10,575 Finns participated in the survey. The 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.
The companies with the best and worst reputations were selected for the study based on a preliminary survey conducted in the spring of 2024. In the preliminary study, approximately 1,000 Finns spontaneously named two companies they considered to have a particularly good reputation and two companies they considered to have a particularly poor reputation. T-Media does not influence the selection of the companies.
The 30 companies with the most mentions were examined in greater detail Reputation&Trust. The list being released today includes the ten companies with the highest scores and the ten with the lowest.
For more information:
Riku Ruokolahti, Director of Development
riku.ruokolahti@reptrust-staging.fi-p.seravo.com
0400 512 200
Harri Leinikka, CEO
harri.leinikka@reptrust-staging.fi-p.seravo.com
040 505 5001
