Richard Edelman advises business, media to 'do your job well' to earn public trust
Edelman CEO Richard Edelman discusses the results of the 2022 Edelman Trust Barometer, which revealed business and 'My Employer' as the most trustworthy.
Results of Edelman’s 2022 Trust Barometer revealed the public’s declining trust in government and media, a phenomenon that will take time and tangible action to fix, advised Edelman CEO Richard Edelman.
Edelman’s Trust Barometer, which the company conducts annually, revealed that businesses are the most trusted institutions, ranking higher than NGOs, government, media and social media. Public trust in media and government declined from 2021 to 2022, and there was an increase in respondents being worried about "false information or fake news."
Further, nearly half of respondents said they believe government and media are divisive forces within society.
"The big differentiating factor for business is competence," Edelman CEO Richard Edelman told Fox News Digital. "Business is seen as 50 points more competent than government, and about 30 points more than media."
RICHARD EDELMAN: EMPLOYERS ARE THE LAST BEACON OF CIVILITY IN AN INCREASINGLY PARTISAN WORLD
Ellen Pompeo (L) and Richard Edelman speak onstage during the Edelman session at the Cannes Lions Festival 2018 on June 19, 2018 in Cannes, France. ((Photo by Francois G. Durand/Getty Images))
"So, do your job well," he added. "Deliver. That’s the word."
"Business has been more trusted than government for the past two years … but I think we’re in a long cycle now of business having to carry more than its fair share of the burden because of government being divided, and there being a sense of paralysis."
This perceived incompetence of government, Edelman said, has forced businesses to take more of a center stage with societal issues.
"It’s not something that a normal CEO even three or four years even had to think about," he added.
CEO of Edelman, Richard Edelman attends the Cannes Lions Festival 2017 on June 20, 2017 in Cannes, France. (Photo by Francois G. Durand/Getty Images)
Edelman also noted it is not just government that is seen as untrustworthy, but also mainstream media.
According to the results of the survey, less than half of respondents viewed media or government as being able to solve societal problems and execute plans that yielded results.
"The most credible source of information today is ‘My Company’s Newsletter,’ can you imagine," he said. "Much more than mainstream media, social media, government media."
Less than half of survey participants trusted government, journalists or CEOs broadly, but "My CEO," coworkers, and scientists were broadly trusted.
ARE YOU A REMOTE WORKER? HERE ARE 5 SMART WAYS TO STAY CONNECTED AND PRODUCTIVE
Isis Anchalee, Uber software engineer, works at her desk at Uber on Tuesday, August 23, 2016 in San Francisco, California. ((Photo By Lea Suzuki/The San Francisco Chronicle via Getty Images))
Building trust between media, government and the public will take time, Edelman noted, highlighting that business often gets "kudos" for taking tangible action.
CLICK HERE TO GET THE FOX NEWS APP
Edelman, a global communications firm, has conducted its Trust Barometer annually for the last 22 years, and said on its website it believes trust is the "ultimate currency" in the relationship between organizations and their stakeholders.
Fox News First
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox.
By entering your email and clicking the Subscribe button, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.