CommPRO Editorial Staff
Released today in Davos at the World Economic Forum, the 2019 Edelman Trust Barometer reveals that during this time of global uncertainty, people place more trust in their companies than in their political leaders.
According to the Edelman study, trust has changed profoundly in the past year with “my employer” emerging as the most trusted institution. Globally, “my employer” (75 percent) is significantly more trusted than NGOs (57 percent), business (56 percent), government (48 percent) and media (47 percent). “The last decade has seen a loss of faith in traditional authority figures and institutions,” said Richard Edelman, president and CEO of Edelman. “More recently, people have lost confidence in the social platforms that fostered peer-to-peer trust. These forces have led people to shift their trust to the relationships within their control, most notably their employers.”
CEOs are expected to lead the fight for change. More than three-quarters (76 percent) say they want CEOs to take the lead on change instead of waiting for government to impose it. And 73 percent believe a company can take actions that both increase profits and improve economic and social conditions in the community where it operates. Employees expect prospective employers to actively join them in advocating for social issues (67 percent). Companies that do are rewarded with greater commitment (83 percent), advocacy (78 percent) and loyalty (74 percent) from their employees.
“This is the emergence of the new contract between employee and employer, which we call Trust at Work,” said Edelman. “This contract is predicated on companies taking four specific actions: Lead on Change, establish an audacious goal that attracts socially-minded employees and make it a core business objective; Empower Employees, keep employees directly informed on the issues of the day and give them a voice on your channels; Start Locally, make a positive impact in the communities in which you operate; and CEO Leadership, CEOs must speak up directly on issues of the day. Smart companies will heed the call to build trust from the inside out with employees as the focal point.”