Many websites exist to provide reviews of what it's like to work at a particular company, such as GlassDoor.com; however, organizations must keep an eye on what's said on these websites as fraudulent claims often slip through, says Cliff Stein, CEO of ReputationChanger.com. In many cases, these fraudulent claims come from disgruntled employees and unscrupulous competitors. Nonetheless, these negative reviews can still hurt.

From a recruiting standpoint, negative reviews make it especially difficult to attract the best talent, Stein says. Despite today's tough economy, qualified candidates still have options, and they're usually skeptical to join a company if they come across poor reviews. Even if a top candidate receives a good offer, it might not be enough to balance the negative reviews. While a good offer can be powerful, top candidates also are looking for positions that will make them happy.

"Bringing in high-quality talent is what's going to sustain your business and what's going to drive your business into future successes," Stein says. "These are tight times as far as the economy is concerned, but even though it's a tough job market, qualified candidates are selective about where they'll go to work. When they see negative reviews online, they're going to be skeptical as to whether they want to make the leap to this company that's made them a good offer on paper."