The Edelman Trust Barometer has been measuring public trust in institutions for over 20 years. Its new 2020 report reveals that a “sense of unfairness in the system” is driving lack of trust in governments, businesses, NGOs and the media.
More than half of respondents globally believe that capitalism in its current form is now doing more harm than good in the world.
Edelman describes a mood of fear over hope, with 83 percent of employees saying they fear losing their job.
The barometer also found that “trust is undeniably linked to doing what is right.” Edelman said: “After tracking 40 global companies over the past year through our Edelman Trust Management framework, we’ve learned that ethical drivers such as integrity, dependability and purpose drive 76 percent of the trust capital of business, while competence accounts for only 24 percent.”
These responses send a clear message that the current economic system is not working for people. It’s time for a wellbeing economy: these latest Edelman Trust Barometer findings simply underscore the urgency of the need for change.