Dr. Bob’s Reads: Creating the High Trust Employee Experience

My purpose is to help all people flourish by creating and supporting healthy organizations.  As a part of this purpose, I am committed to finding and sharing best practices and resources regarding purpose-driven leaders, teams and organizations.

Today’s resource is the Annual Edelman Trust Barometer (AETB).  The AETB is a global survey that focuses on measuring the amount of trust people have in their governments, businesses, media and non-governmental organizations (NGOs are any non-profit, voluntary citizens’ group which is organized on a local, national or international level).  The 2020 AETB, conducted between 10/19/19 and 11/18/19, had over 34,000 respondents.  

Key takeaways from the 2020 AETB:

Low trust in businesses – “Despite a strong global economy and near full employment, none of the four societal institutions that the study measures – government, business, NGOs or media – is trusted.”

Growing cynicism around capitalism – 56% of the respondents agreed that “Capitalism as it exists today does more harm than good in the world.”

Fears eclipse hopes –  “Against the backdrop of growing cynicism around capitalism and the fairness of our current economic systems are deep-seated fears about the future.  Specifically, 83% of employees say they fear losing their job, attributing it to the gig economy, a looming recession, a lack of skills, cheaper foreign competitors, immigrants who will work for less, automation, or jobs being moved to other countries.”

Decent wages – “I trust that businesses will pay everyone a decent wage” – 31% agreed with this statement.

Supporting local communities – 41% feel businesses are positively “contributing to their communities.”

Keys for building trust for the future – “Pay fair wages, focus on education and retraining and embrace an all-stakeholders model.”

Bottom line:

The results of the 2020 AETB are a wake-up call for our businesses to embrace a new way of effectively building trust with all our stakeholders – starting with our employees.  Many of our employees are living in fear when it comes to making and keeping a livable wage.  This type of fear often fuels irrational and counterproductive behavior and results.

We must create and sustain high-trust employee experiences by adopting a “conscious capitalism” mindset that takes into consideration the needs of all stakeholders, the environment and shareholders.  My experience and research tell me that a shared purpose / commitment focused on making lives better for all stakeholders is the key in winning the trust and engagement necessary for sustainable success.

No Comments

Sorry, the comment form is closed at this time.