Last month the 2018 Edelman Trust Barometer revealed that 74% of Australians trust the businesses that they work for, an increase of 20 points from the previous year. In addition, 64% of those surveyed say that CEOs should take the lead on change rather than waiting for government to impose it, while 69% say that building a trusted company should be top priority for CEOs.
This signals that enterprise must take more concrete steps in making positive changes in the country, an important conclusion from the annual global survey which expressed concern for “a world of seemingly stagnant distrust.”
The onus is on CEOs to become authorities on issues and policy, as 84% expect CEOs to inform conversations and policy debates on issues such as jobs, the economy, automation, regulations and globalisation. Business credibility on issues is high; people are as likely to believe major corporations as major news organisations.
Overall, trust has declined in all four Australian institutions (government, business, NGO and media), scoring 40 points in the Trust Index among the general population and 55 points among the informed public, which places Australia at the bottom half of the 28 markets in the survey.
Media is the least trusted institution globally, but even more alarmingly, only 31% of Australians trust media in general, making it the second lowest among all countries polled. 7 in 10 Australians worry about fake news being used as a weapon, and 52% trust journalism vs 35% in platforms (social media, search engine results).