All as bad as each other? How your business can stand out as trustworthy

All too often, you hear members of the public expressing a sense of generalized distrust in powerful people and institutions. Politicians, the press and big business all come in for suspicion of being self-serving and untrustworthy.

But the true picture is more nuanced than that. The 2022 Edelman Trust Barometer outlines in a little more detail who and how we trust, along with indicators of what your organization can do to demonstrate its trustworthiness.

The 2022 edition also paints a picture of how views are changing. Since the release of the 2021 report, trust in government and the media has declined further, concern about fake news is at an all-time high, and societal fears of everything from climate change to cyber-attacks are rising. Here are the main talking points.

The cycle of mistrust

The Edelman Trust Barometer spoke to 36,000 respondents in 28 countries around the world, including the UK.

This year’s Barometer focuses on the cycle of distrust that is hampering progress on critical issues such as climate change, global pandemic management, racism and mounting tensions between China and the US.

Key factors fuelling the cycle of mistrust are said to be:

• Government-media distrust spiral, with both press and government seeking short-term popularity
• Excessive reliance on business, with the private sector stepping in to compensate for government failures
• Mass-class divide, as the pandemic accentuated differences between high and low income countries and communities
• Failure of leadership, with the discrediting of leaders and trust being placed in increasingly localized structures

Business most trusted

People place increased trust in businesses, with 65% saying information from their employer is the most believable source, and 77% saying their employer is the institution they trust most.

What’s more, many people are looking to businesses to lead on social issues such as climate change and economic equality. Almost 60% of consumers saying they buy brands based on their beliefs and 60% of employees choosing an employer based on shared beliefs.

However, businesses are not typically designed to perform the roles that people want them to play, especially where governments are not supporting key objectives. This has led to disillusionment among many people, with 70% saying the system is biased against ordinary people and more than half questioning the validity of capitalism.

Who do people trust?

Survey respondents revealed that trust in governments, NGOs and the media has reduced in the last year. Only business maintained positive results (a 61% trust level). Worldwide trust in governments was at 52%, down from 62% in the 2020 survey.

Almost half of people (45%) said business is a unifying force compared to 31% who saw it as divisive. 48% perceived government as divisive and 36% unifying. Media was divisive for 46% and unifying for 35%.

Fake news is major concern

Globally, fake news and misinformation continues to be a major concern with 76% of respondents reporting worries. In 13 of the 27 countries surveyed about fake news, 13 reported record levels of concern.

More people (55%) trust business and NGOs to take a leadership role in solving societal problems than trust media (45%) or government (44%). In terms of executing strategies to get results, 65% trust business, 57% trust NGOs, 48% trust the media and only 42% trust the government.

What can you do to improve trust in your organization?

Trust is established by every contact an organization has: with its employees, its customers, its suppliers, its local community. Strong, trustworthy businesses play an important role in maintaining our social fabric, for example by ensuring the rule of law, property rights, and reducing perceived risk of investment and economic transactions.

Standards can be an important way of ensuring your business is doing its very best to be reliable and trustworthy in everything from management to sustainability, from customer service to sourcing and supply chains.

BSI Mark of Trust

The BSI Mark of Trust is one important way of building trust, and a valuable marketing tool.

It helps organizations show they have successfully met the requirements of a standard. It also helps consumers, customers, specifiers and the wider market recognize and trust organizations who are certified by BSI. The Mark of Trust symbol can be displayed on websites, vehicles, business cards and promotional materials.

The BSI Kitemark™

The BSI Kitemark™ is one of the world's first well-established trust marks and has been informing the decision-making of consumers and businesses for over 100 years. BSI Kitemark™ certification confirms that a product or service’s claim has been independently and repeatedly tested by experts. The market trust and confidence in the Kitemark, can help organizations to differentiate their products and services, access new markets and demonstrate their commitment to quality.

Research indicates that people associate the BSI Kitemark with quality, reliability, and safety. Almost all survey respondents (95%) said they would be more likely to buy a product that displayed the Kitemark, and 87% said they would be willing to pay more as well.

You and your customers can have trust and confidence in products and services that are BSI Kitemark certified.

Why not see which Kitemark or Mark of Trust schemes apply to your industry? Check the available schemes on the BSI website.