Rostrum

Reputational Risk is a Growing Priority, but the Service Focus Remains Overwhelmingly on Remediation, According to ALM's New Pacesetter Report

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Wednesday, January 25, 2023
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NEW YORK, Jan. 25, 2023 /PRNewswire-PRWeb/ -- 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.

Key Points: 
  • This is achieved by incorporating reputation risk into a more holistic, enterprise-wide risk management strategy.
  • "Reputational risk, a risk grounded in perception, has involuntarily become a growing priority for organizations," said Ruth Sierra, Analyst, Law.com Compass Pacesetter Research.
  • "Professional services providers are predominately remediation-focused, with only a limited number of Innovators offering strategic, proactive-focused approaches to reputational risk."
  • To learn more about the reputational risk research or obtain the full version of the report, go to: https://www.alm.com/intelligence/pacesetter-research-2/reputational-risk/ .