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PACESETTER RESEARCH


REPUTATIONAL RISK


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Home > ALM Intelligence Pacesetter Research > Law.com Compass Pacesetter
Research: Reputational Risk


New analysis from Law.com Compass Pacesetter Research, previously known as ALM
Intelligence Pacesetter Research, has found that the number of reputational risk
management-related services has continued to climb since the pandemic and the
resulting global political and economic volatility, underscored by the rise of
social media.Furthermore, stakeholders are increasingly holding organizations
more accountable for their conduct.The service emphasis among innovators in
professional services has moved toward a more proactive approach.This is
achieved by incorporating reputation risk into a more holistic, enterprise-wide
risk management strategy.

This research assessed dozens of providers to arrive at eighteen Innovators
recognized for their ability to deliver tangible client impact in today’s
crowded reputational risk market. Additionally, the research and analysis
provide insights into the competitive dynamics and service delivery trends
driving convergence across legal, management consulting, multi-service,
communications/PR, and technology providers.




STRENGTHEN YOUR COMPETITOR MATRIX & PROFILES IN INCREASINGLY DYNAMIC MARKETS

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OPTIMIZE YOUR CHOICES IN PROFESSIONAL SERVICES PARTNERS

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RESEARCH HIGHLIGHTS

 * The perceptual and ethical elements coupled with the difficulty in
   objectively measuring them often reframes reputational risk as a secondary
   priority to crisis management
 * A key challenge is few organizations have a reputational risk management team
   or chief reputational risk officer, so reputational risk management is
   fragmented and typically spread across multiple business units, with no one
   “owner”
 * With key stakeholders (i.e. customers, NGOs) closely monitoring
   organizations’ ESG efforts and some early government regulations, clients are
   finding themselves more actively thinking about reputational risk

 * Organizations that build a fully integrated strategic plan around
   reputational risk are strengthening their brand resiliency
 * While reputational risk is difficult to define and measure, all successful
   solutions rely heavily on advanced data analytical tools for key insights and
   monitoring, with a growing trend towards a centralized data platform

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WHAT MAKES A PACESETTER & INNOVATOR IN REPUTATIONAL RISK?

As detailed in the report, innovative professional services providers are most
likely to try to instill a full reputational risk management framework that
focuses on the needs of the client’s key stakeholders.Innovators are more likely
to leverage opportunities to showcase positive initiatives and actions helping
clients build long-term resiliency into their reputational risk framework.This
puts the emphasis on reputational risk management in a broader strategic context
for clients.




THE 2023 REPUTATIONAL RISK INNOVATORS & PACESETTERS

 * Accenture
 * Allison+Partners
 * Benesch
 * Clifford Chance
 * CS&A International
 * Deloitte
 * EY
 * Fasken
 * FTI Consulting

 * Ketchum
 * KPMG
 * Marsh
 * McKinsey
 * Norton Rose Fulbright
 * Osler
 * PwC 
 * Protiviti
 * Rostrum





THE METHODOLOGY



The goal of Pacesetter Research is to help buyers of professional services
navigate an increasingly complex landscape with confidence. We use a
multidisciplinary perspective to identify best-in-class providers of legal,
consulting, financial, insurance, employee benefits, and other professional
services and analyze how they are evolving as an ecosystem of interdisciplinary
service providers. Our research is grounded in over 50 years of accumulated
market insights and qualitative research models that combine knowledge of
management science with case studies and other sources of knowledge to
understand patterns of market supply, demand, behavior, and ways of doing
business. Our research also includes voices/perspectives from both the sellside
and buyside, as well as knowledgeable people working in industry associations,
academia, etc.

 * The Pacesetter Advisory Council (PAC) convenes in advance of the research
   project kick-off; members include ALM journalists and editors, and external
   experts such as consultants, general counsel, and industry thought leaders

 * The PAC selects the set of Innovators that will be covered in the research
   topic from a larger group of providers that members have identified in the
   normal course of their work

 * PAC members also provide expert knowledge and insights to the ALM Pacesetter
   team throughout the research and analysis process

 * The Pacesetter Team within conducts primary and secondary research

 * Primary research includes in-depth interviews with practice leaders at the
   provider firms covered in the research; satisfaction interviews with clients
   referred by those providers; and in-depth interviews with thought leaders,
   recruiting professionals, and other sources

 * Secondary research includes data gathered from annual reports and earnings
   calls, management presentations, public filings, case studies, press
   releases, journals and publications, online information databases and other
   publicly available resources

 * Innovators that achieve a Pacesetter Impact Score equal to or over 85 are
   designated as Pacesetters

 * Pacesetter analysts map markets and stakeholders and write market trends

 * Market segment overviews are peer reviewed by the appropriate PAC member

SERVICE PROVIDERS ARE EVALUATED AND SCORED BASED ON FIVE CORE CRITERIA


BUSINESS MODEL

Provider’s ability to reposition core competencies around new products,
services, and business models to adapt to shifting patterns of market supply,
demand, behavior, and ways of doing business.


VALUE PROPOSITION

Provider’s ability to deliver on its value proposition, i.e., the positioning
statement that communicates the benefits and economic value a prospect will
receive by purchasing the provider’s products and services over a competitor’s.


SERVICE DELIVERY

Provider’s ability to mobilize resources and configure assets to serve clients.


CLIENT IMPACT

Provider’s ability to help clients affect continuous, sustainable change,
mitigate risk, improve performance, and achieve growth.


BRAND EMINENCE

Provider’s ability to leverage brand and marketing strategies to differentiate
in its marketplace as an expert practitioner and thought leader.






ABOUT THE ANALYST

Ruth Sierra is an Analyst on the Pacesetter Research team at ALM. Prior to
joining ALM Ruth worked in education and research. She served as an Elementary
Educator and Team Chair Leader using creativity and collaboration to promote a
growth mindset.She has over 10 years experience in research. She worked for a
consulting company as a Senior Global Manager for the market research team.Her
responsibilities included Project Management, specifically research design,
implementation, analysis, and presentation to clients. She completed her
graduate degrees from Hunter College and Hofstra University in NY.



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information please contact our Strategic Accounts Manager, Ron Dinkins, at
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