Consumers may have to take their business elsewhere based on Harris Interactive’s Reputation Quotient (RQ) Survey for 2013. The research institute has released its 14th annual survey that evaluates 60 American companies on six categories: social responsibility, emotional appeal, products & services, workplace environment, financial performance, and vision & leadership. With the use of opinion poll data and their own methodology, the 10 worst companies have been established. While most of the list includes banks, others have joined due to their poor performance in customer satisfaction. Here are the 10 least reputable companies in America that you should think twice about:
The cable provider scored 60.99 out of a possible 100.0 scale based on corporate reputation. As a former Comcast customer, I can attest to the fact that their customer service is sub par. Their phone services have declined based on the growing wireless cell phone market. It does not seem that customer dissatisfaction will impede on its success.
9. Wells Fargo
The bank scored 60.47 on the scale, and has struggled against competing banks such as J.P. Morgan Chase & Co. and Citigroup for stock growth. Although the banking giant has seen a slow but positive progression in revenue, the company has certainly had a troubled past. In 2012 the feds filed a lawsuit on the grounds that the Federal Housing Administration had to bail out Wells Fargo after lending faulty loans. It comes as no surprise that American banks such as Wells Fargo remain in the hot seat.
8. J.P. Morgan
Since the merger of J.P Morgan and Chase, the company has come under fire for controversial trading practices. Their reputation score came out to 58.20, nearly a 4-point improvement from 2012. After a trading loss that resulted in a nearly $6 billion deficit, the FBI launched an extensive investigation.
Since the company has become the culprit behind the Gulf Oil Spill in 2010, their revenue continues to suffer three years later. Their reputation score is 56.55 and the company lost nearly 9% in stock in 2012. Their PR team continues to launch ads on the progress in the Gulf, but it appears that they may never be able to recover.
Continuing on the bank theme, Citigroup Inc. has not won over Americans. Although having a score of 55.90, the company improved its stock performance by nearly 34%. However its linkage to America’s financial crisis may prevent them from shaking their image of displaying corporate greed.
5. Bank of America
In case you haven’t had enough of banks, Bank of America has joined the ranks of its notorious counterparts. It’s score of 55.85 has had a significant improvement since 2012’s 49.85. Their stock has increased over 50 percent in 2012, making the company one of the most powerful banking giants in the nation.
4. American Airlines
Between its pay cuts and layoffs of thousands of employees, American Airlines has not received the best reputation. Scoring 53.85, Harris Interactive claims that the company is one of the most visible in America. The multi-billion dollar merger between AA and US Airways has brought increased attention, and may slowly improve their customer satisfaction.
The oil rich Halliburton Co. received a poor scoring of 52.51. Their poor reputation stems from their controversial stance on the practice of hydrofracking. Based on an increased societal sentiment on environmental consciousness, the company may be headed towards failure.
2. Goldman Sachs
Scoring below 50 on the scale, Goldman Sachs came in second for having the worst corporate reputation in America. Once again, their involvement in the financial crisis has not helped their consumer base.
The insurance firm is America’s most disrespected company, scoring just 48.57 on the Harris scale. It's pretty fitting that a financial-based institution holds the top spot considering the current state of the economy. AIG received extensive bailouts from the federal government, adding to consumers’ negative sentiments. Maybe 2014 will give them a shot at redemption?