Business retains its place as the most trustworthy institution according to results from the 2022 Edelman Trust Barometer, the most well-known global survey about trust and credibility. Of the institutions included in the study, trust in companies (61%) is the highest, ahead of non-governmental organizations (59%), governments (52%), and the media (50%).
Edelman conducted the survey in November 2021, gathering responses from over 36,000 individuals from 28 different countries in the form of a 30-minute online interview. This year’s report revealed a vicious cycle of distrust that presents a grave threat to social stability. The decline of trust in democracies is evident given that only 50% of French, 46% of Germans, 44% of Britons, and 43% of Americans report trusting their own governments. What’s more, no developed countries believe that they or their families will be better off in the next five years.
Citizens are now looking to businesses to fill the gap and tackle issues like climate change, economic inequality, workforce reskilling, and racial injustice. The research showed that as many as 60% of employees expect their CEO to take a stance and speak out on social issues, while 64% of investors seek to invest in companies aligned with their values. “Business must now be the stabilizing force delivering tangible action and results on society’s most critical issues. Societal leadership is now a core function of business,” says Richard Edelman, CEO of Edelman.
The Edelman Trust Barometer is the best-known trust survey in the world, conducted and released annually for the past 22 years by Edelman, one of the largest global communication firms worldwide. The Trust Barometer provides insight into people’s level of trust in institutions, which is especially important in the context of the COVID-19 pandemic and the growing debates about human rights, economic issues and political (in)stability. Agency 404, the largest communications agency in the region, has partnered up with Edelman to present the Trust Barometer’s findings in this part of Europe.