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Global trust in business up slightly
By Noreen Kelly | January 26, 2010
The 2010 Edelman Trust Barometer Survey reports a modest global rise in trust in business, however, informed adults believe that companies will revert to their old ways as memory of the economic downturn fades.
According to survey results released today, 54% of adults said that they trusted business, up from 50% in 2008.
For the first time, this year’s Trust Barometer shows that trust and transparency are as important to corporate reputation as the quality of products and services.
People no longer regard a company’s financial performance as a signal that it is trustworthy. Financial returns ranked last of the 10 factors that Americans said they considered in evaulating a company’s trustworthiness, behind transparency, treating employees well and pricing fairly.
The credibility of CEOs showed notable recovery in many markets, jumping by nine points in the U.S. to 26%. Despite this climb, CEOs still rank in the bottom two in the list of trusted spokespersons in the U.S. and Germany.
“Trust in business has improved, but the patient has a long way to go for a full recovery,” said Richard Edelman, president and CEO, Edelman. “The increase in trust in business belies its fragility. There is concern that short-term actions have been taken only as a result of the crisis and that government will need to remain a watchdog. Companies will have to prove the skeptics wrong and show they can achieve both profit and purpose.”
Sources: Edelman PR and Reuters Press Releases, 1/26/10
For more information, go to: http://edelman.com/trust/2010/
Topics: Business, Trust | 3 Comments »
February 9th, 2010 at 10:34 pm
[...] 15. Spirit of Trust In Business: Global Trust In Business Up Slightly [...]
February 11th, 2010 at 4:21 pm
Noreen,
Congratulations on having your post selected to be part of February’s Carnival of Trust, hosted this month by Bret L. Simmons.
The Carnival is a monthly compilation of the top blog posts dealing with the subject of trust in business, politics and society. Your post highlighting that now, after the economic downturn, people are recognizing that trust seems to be the more important aspect in business is rather interesting to see. Even if it is only a 4% growth as of now, I expect we will see it continue to climb.
The Carnival can be found at: http://www.bretlsimmons.com/2010-02/february-2010-carnival-of-trust/
Congratulations again!
Kristin
http://www.trustedadvisor.com/trustmatters
February 19th, 2010 at 10:16 am
Kristin,
Thanks! And, special thanks to Charles H. Green and Trusted Advisor for offering the Carnival of Trust, an excellent forum to share a range of views on Trust.
Yes, trust matters throughout organizations, especially in today’s business climate. Let’s hope that business does not revert to “business as usual” after the recession is over.
Noreen
http://www.trustmattersgroup.com