By: Gemmy Allen
Management has trust issues.
Edelman’s 2017 Trust Barometer, which measures trust in institutions around the globe, found its largest-ever drop in trust across government, business, and media. “The implications of the global trust crisis are deep and wide-ranging,” said Richard Edelman, president and CEO of Edelman. “It began with the Great Recession of 2008, but like the second and third waves of a tsunami, globalization and technological change have further weakened people’s trust in global institutions.”
Of the institutions, business is viewed as the only one that can make a difference. Three out of four respondents agree a company can take actions to both increase profits and improve economic and social conditions in the community where it operates. Moreover, among those who are uncertain about whether the system is working for them, it is business (58 percent) that they trust most.
“Business is the last retaining wall for trust,” said Kathryn Beiser, global chair of Edelman’s Corporate practice. “Its leaders must step up on the issues that matter for society. It has done a masterful job of illustrating the benefits of innovation but has done little to discuss the impact those advances will have on people’s jobs. Business must also focus on paying employees fairly, while providing better benefits and job training.”
What actions can managers take to improve trust overall and help transform the company’s culture into a place where trust thrives?
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.