Edelman Consulting's 2023 Trust Barometer Report was released today. A lot of interesting findings. With any survey, the question is: so...what's next? According to Edelman, Businesses are the most trusted entity in the United States. This is the good news, surrounded by their other less optimistic findings.
A business can build trust with its employees, customers, and community by consistently demonstrating integrity and transparency in its actions and communication. This includes being honest and transparent in business practices, treating employees fairly and with respect, and actively engaging with and giving back to the community. Additionally, a business can build trust by being responsive to customer needs and concerns, and by delivering on its promises. Building and maintaining a positive reputation within the community can also help to build trust.
Here are some survey questions that your business can use to determine the level of trust it has with their stakeholders:
Employees: How satisfied are you with the level of transparency and communication from management? How fairly do you feel you are treated compared to your colleagues?
Customers: How likely are you to recommend our products or services to others? How satisfied are you with our level of responsiveness to your needs and concerns?
Community: How favorably do you view our company? How actively do you think we engage with and give back to the community?
These are some examples of survey questions that can help a business to understand how its stakeholders perceive the level of trust they have in the company. The survey should be designed in such a way that it captures the opinion of the most relevant stakeholders and that it is anonymous to ensure honest responses.
With this data, employers can build their own trust index, design a trust program, supported by tactics to improve your organization's trust score. Finally, once you have favorable data you can use this information in your marketing, recruitment and retention of customers and employees' programs.
To learn more about employers building trust see this article from the Edelman Trust Report of 2023. Edelman | Business: An Unshakable Force in a Polarized World