Although we currently enjoy a strong economy and very high employment rates, most respondents in developed markets do not believe the situation will improve within the next five years, and 56 percent believe that capitalism, as it is currently practiced, has more negative than positive consequences.
You can find this and other findings in the 2020 Edelman Trust Barometer.
A 14-point gap in global trust indices between the most informed segment of the public and the most skeptical segment of the population.
56% of respondents believe that capitalism, as it is currently practiced, has more negative than positive consequences.
83% of employees are concerned about the possibility of losing their jobs to automation, the possibility of a recession, a lack of training, competition from foreign companies offering lower prices, and immigration.
92% of employees say that CEOs should take a clear stance on daily challenges and issues such as the ethical use of technology and wage inequality.
87% say that customers, employees, and communities are more important than shareholders to the company’s long-term success.
61% agree that the pace of technological change is too fast, and 66% are concerned that technology could create a scenario in which it is difficult to distinguish between what is real and what is not. Technology (75%) remains the sector with the highest level of trust, but it also saw the largest overall decline (-4 points).
Respondents explain that they place their trust based on two criteria: competence (delivering on promises) and ethical behavior (doing what is right to improve society).
Perception: companies are more competent than governments (a difference of 54 points); NGOs are more ethical than governments (31 points); governments and the media are viewed as incompetent and unethical institutions.
Integrity, loyalty, and a sense of purpose account for 76% of trust capital in companies. Skills account for 24%.
Respondents trust both organizations to protect employees in today’s economy (40% trust the government and 32% trust businesses).
Download the report, explore the findings and learn how we can help your company bridge the gap.
The Edelman Trust Barometers includes data on trust in businesses, media, government and NGOs in Portugal and globally — an essential reference for any corporate communication strategy.