Trust has changed profoundly in the past year, with "my employer" emerging as the most trusted institution globally, according to the 2019 Edelman Trust Barometer.
The global survey of 33,000 individuals revealed trust is today a powerful asset for organisations, and that "my employer" (75 percent) is significantly more trusted than NGOs (57 percent), business (56 percent), government (48 percent) and media (47 percent).
"This is key research for risk professionals and should be in every risk professional’s tool kit", says Julia Graham, Airmic's deputy CEO and technical director. Airmic is hosting a webinar with AXA XL on 27 February at 3pm to explore the report and the implications of its findings for the risk management community. Register here.
"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."
Register now for Airmic's Edelman Trust Barometer webinar - 27th February, 3pm
This year's survey has broken new ground in understanding what makes trust such a powerful asset for organisations, how to measure it accurately and how to demonstrate the true value it brings.
Join our webinar to hear more about the report and its implications for risk professionals.
Click here to register.
This has brought added responsibility on businesses, with CEOs 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.
The report also highlighted record highs of trust inequality, with a 16-point gap between the more trusting informed public and the far-more-sceptical mass population. This was driven by a pronounced rise in trust among the informed public.
Over the last 19 years, the Edelman Trust Barometer has detected and documented some of the largest opinion shifts shaping the world. It has observed that the state and dynamic of trust in institutions was in many ways predictive of larger societal, economic and political changes to come.