Trust in companies, more important than ever
The annual report "Barometer of Trust" prepared by the communication company Edelman assesses the state of trust towards public and private institutions, including companies, governments, NGOs and the media.
After a very turbulent year, with an unprecedented health and economic crisis, the report highlights how the business sector emerges as the most trustworthy institution, within a context of misinformation and widespread mistrust of societal institutions and leaders around the world, accelerated due to the Covid-19 crisis.
Among the main conclusions of the report are the following:
- The business sector (61%) emerges as the most trusted institution, followed by NGOs (57%), governments (53%) and the media (51%). Furthermore, business is the only institution considered ethical and competent, also surpassing government in terms of competence and coming close to NGOs in terms of ethics.
- Information overload is fueling widespread distrust of leaders and social referents, and citizens no longer know where or to whom to turn for reliable information. Most respondents believe that political leaders (57%), business leaders (56%) and journalists (59%) are deliberately trying to mislead people with fake information. The biggest opportunity for companies to gain trust is related to protecting the quality of information.
- The events of last year have reinforced companies' capacity for commitment and responsibility to lead on social issues, such as improving worker training and racial justice.