A recent study by Corporate Responsibility Magazine stated that 76 percent of people would not agree to work for a company with a bad reputation, even if they were unemployed.
The hotel industry has started setting room prices based on reviews from booking websites. According to a Harvard study, reviews on Yelp translate directly to a restaurant’s revenues. An 18 percent difference in profits has been recorded between 3-star and 5-star restaurants. However, while it is fairly easy to check the reputation of a travel company or restaurant, it is a completely different story when it comes to large organizations.
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