The 2020 Edelman Trust Barometer reveals that despite a strong global economy and near full employment, none of the four societal institutions that the study measures—government, business, NGOs and media—is trusted. The cause of this paradox can be found in people’s fears about the future and their role in it, which are a wake-up call for our institutions to embrace a new way of effectively building trust: balancing competence with ethical behavior.
“What The Trust?!” is a podcast series by Edelman Amsterdam that explores what makes, shakes and often breaks trust in organizations and brands.
Is trust important in business?
Can trust be rebuilt and what does it mean to be trusted?
In the first episode of “What The Trust?!” host Lauren Valbert sits down with Steven Heywood (CEO Edelman Amsterdam) and Raymond de Coninck (Head of Digital) to talk about the most important findings of our 20th annual Trust Barometer.
We asked Friso Roscam Abbing (Communication Advisor, European Union Agency for Fundamental Right), Saskia Kapinga (VP External Relations, Shell), Ernst Jan Stigter (Managing Director, Microsoft Netherlands) and Lisa Kos (Communications Lead, World Benchmarking Alliance) to give their opinion and vision on Trust. Watch the full video here:
Since Edelman began measuring trust 20 years ago, it has been spurred by economic growth. This continues in Asia and the Middle East, but not in developed markets, where income inequality is now the more important factor. A majority of respondents in every developed market do not believe they will be better off in five years’ time, and more than half of respondents globally believe that capitalism in its current form is now doing more harm than good in the world.
The result is a world of two different trust realities. The informed public—wealthier, more educated, and frequent consumers of news—remain far more trusting of every institution than the mass population. In a majority of markets, less than half of the mass population trust their institutions to do what is right. There are now a record eight markets showing all-time-high gaps between the two audiences—an alarming trust inequality.
Distrust is being driven by a growing sense of inequity and unfairness in the system. The perception is that institutions increasingly serve the interests of the few over everyone. Government, more than any institution, is seen as least fair; 57 percent of the general population say government serves the interest of only the few, while 30 percent say government serves the interests of everyone.
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Using trust as a building block for your communications or marketing strategy? Find local and global results, actionable insights and conversation starters from Edelman’s 2020 Trust Barometer in this whitepaper!
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