Air New Zealand has been named Australia’s most-trusted brand for a third year running, while the reputation of major banks and some financial service firms has plummeted, a survey of 10,000 Australians shows.
The 2019 Corporate Reputation Index, released on Monday and conducted each year since 2008 by the global Reputation Institute, showed half of Australia’s top 60 corporations had strong or top tier reputations, an improvement on 2018.
AMP and all the major banks except Commonwealth – which was already low ranked – tumbled down the rankings this year amid the fallout from the financial services Royal Commission.
“While there’s clearly been a loss of trust in the four big banks and some major financial services companies, we’re not seeing any flow on effect to the remainder of Australia’s corporate sector,” Reputation Institute Australia & New Zealand managing director Oliver Freedman said.
“Australians simply don’t view all corporates negatively.”
Air NZ chief executive Christopher Luxon was pleased with how his company placed.
“It’s really special, because it’s our third year,” he told AAP.
“We believe reputation is everything and we’ve worked to build that over time.”
Mr Luxon said AirNZ had tried hard to build a world-class organisation and that Australians now made up 30 per cent of the passengers on Air New Zealand’s long-haul flights to North and South America.
Qantas was ranked No. 2, up from No. 3 last year, while JB Hi-Fi rose three places to claim the third spot.
Woolworths improved 14 places to rank eighth overall, its highest ranking since the survey began in 2008 and two spots behind ALDI, the most-trusted supermarket.
Lendlease and Myer showed the biggest improvements in the rankings, with both rising 18 places to rank 27th and 35th, respectively, after declines last year.
Crown Resorts, Coca-Cola Amatil, and 7-Eleven also improved their reputation, as did Bendigo and Adelaide Bank, which was the top ranked bank at No. 11.
“This proves you can be a bank and still have a strong reputation if you are focused on reputation drivers that resonate with customers and increase trust,” Mr Freedman said.
The survey asked Australians to rate the companies based on how they felt about each company based on products and services, innovation, workplace, citizenship, governance, leadership and performance.
AMP fell 18 spots to No. 60, displacing News Corp Australia at the bottom of the rankings. The media company ranked 59th, ahead of NAB at No. 58.
Commonwealth, Telstra and Westpac took the 57th, 56th and 55th spots on the list.
AUSTRALIA’S MOST-TRUSTED COMPANIES FOR 2019 AND HOW THEY COMPARED TO 2018
1 Air New Zealand, 0
2. Qantas, +1
3. JB Hi-Fi, +3
4. Toyota, -2
5. Mazda Australia, 0
6. Aldi Australia, +3
7. Samsung, +3
8. Woolworths, +14
9. Hyundai Australia, +2
10. Nestle Australia, +3