We live in an age of uncertainty. Everything from constantly shifting back-to-office dates to travel restrictions are making it difficult to plan ahead for the future. Media outlets routinely contradict each other, and we often find ourselves unsure where we should be looking for guidance in an era of widespread misinformation.
So which sources do Americans trust the most? The Edelman Trust Barometer, an annual survey measuring the public’s trust in government, business, media, and NGOs, looks to answer this very question.
The 2021 Edelman Trust Barometer surveyed over 33,000 respondents across 28 countries to find which institutions were trusted most. According to its findings, 18 out of 27 countries trusted businesses more than the government. Media had the least trust overall, trailing ten points behind businesses. 59% of those surveyed also agreed that journalists and reporters will intentionally mislead readers with false or gross exaggerations.
The majority of survey respondents also answered that they expect businesses to pick up the slack when governments don’t step in. According to the report, 66% of respondents believed “CEOs should take the lead on change rather than waiting to impose change on them.” 65% also agreed that CEOs should be “accountable to the public and not just to the board of directors or stockholders”.
Frustration with actions, and more often than not, inaction, of our government, has caused Americans to hold companies accountable in place of their elected leaders. Over 85% of respondents stated they expected CEOs to publicly address societal issues such as impacts of the pandemic and job automation. It’s clear that the majority of the public agrees that corporations need to step up and take more responsibility for the issues plaguing our society.
It’s no big secret that the megacorps of the world hold immense sway over legislation, and having them speak out on behalf of Americans would amplify our voices with even greater impact. America has withdrawn and rejoined the Paris Agreement, an international agreement concerning climate change mitigation, making its stance unclear at times. Despite this, at least 154 companies have voluntarily pledged themselves to the American Business Act on Climate Pledge to advocate for positive climate change practices. Companies having signed the agreement include Amazon, Microsoft, Google, Tesla, and other big names.
The success of this pledge shows that it is indeed possible for companies to enact positive changes without government intervention. Of course, this doesn’t mean that companies should be left to their own devices and expected to do the right thing, but Americans can speak with their wallets and influence companies to support positive changes.
It’s not a perfect solution, and perhaps not even the best one, but as Americans’ expectations for businesses become stronger and clearer, we can only hope that some will use their leverage to become advocates for change.
What do you think? A growing number of Americans are frustrated with their companies over topics like remote work and inadequate work-life-balance, yet expect businesses to step up to bat on social issues. Where do you think Americans will turn to as the impacts of the pandemic continue to take its toll?