Who’s Got a Bargepole?
One of Peter Kay’s classic lines is his incredulity at the saying, ‘you wouldn’t trust him with a bargepole’ …
Who’s got a bargepole??
Well, if we did we’d be barging our way through modern life. The final week of January saw interesting survey results with the 2012 Edelman Trust Barometer.
Who do you trust? Cold callers trying to insist you can make a claim for an accident you haven’t had? Jingles on the radio persuading you their products are better than their rivals? What you read on Wikipedia?
According to the Edelman Trust Barometer, levels of trust have hit an all-time low with a deeply sceptical British public emerging.
But is it really that surprising that trust in government is down on a year ago considering the MP expenses scandal, handling of the bankers’ bonuses, the UK riots and the recent news that we are now in a trillion pound worth of debt.
Just 29 per cent of people expressed confidence that government is doing the right thing, with only slightly more people (38 per cent) trusting in business.
And so business is confronted by an equal degree of scepticism. Reflecting the current debate about ‘responsible capitalism’, this year’s survey found that to be trusted, business needs to do more than succeed commercially.
72 per cent of respondents say companies should be involved in solving social and environmental problems. But CEOs face another hurdle in convincing the public that they deserve a hearing: they are the least credible public spokesperson for a business or organisation (only 30 per cent of respondents find them credible). More credible are academics or experts (by 73 per cent), a “person like yourself” (60 per cent), a technical expert (56 per cent), or a “regular employee” or “financial/industry analyst” (55 per cent).
Ed Williams, UK CEOof Edelman London, said: “The public expects business to do more than just make money and create jobs. They expect business to improve the world it operates in, act ethically, treat employees well and help local communities. This is the difference between trusted and distrusted companies. This is the trust fulcrum for business.”
For the world of PR, this is a message that needs to be heard. Business success is not judged just by profit alone but by the ‘social’ bottom line. A financial conglomerate that features strongly in its local press with good CSR stories will be, if this report is correct, more trustworthy than one who just prints its profit margins in the business pages.
For companies that deliver legal services or financial advice – from making a will, to handling a divorce or making the most of your savings – you want to at least trust they have your best interests at heart, not just their own profit margins.
Interestingly, Richard Edelman the president of Edelman who conducted the research said: “Business is now better placed than government to lead the way out of the trust crisis. But the balance must change so that business is seen both as a force for good and an engine for profit.”
Another report in January, This Human Business, commissioned by communications agency, Bondy, and growth and innovation consultancy, The Foundation, states humanity is at risk of getting lost in the pursuit of business results. Its report concludes that in fact recognising humanity would enable business results to be more robustly and sustainably achieved.
Rebuilding trust and reputation management is going to be high on the agenda for CEOs. Corporate reputation is central to business success. And its PR experts who will be on the frontline helping organisations by advising which actions to take.