Who do you trust...and who trusts you?

“Trust is the glue that creates and fosters stable reciprocal relationships” - Edelman Trust Barometer 2022

As 2022 gathers steam and heads into its second quarter, many of us are scratching our heads and wondering what is next on the list of unprecedented challenges, upheavals and collisions that will affect our businesses, our society and our sense of wellbeing.

We are living through a period of uncertainty not previously experienced by many in business today and our society is developing some alarming fault lines that have an unpredictable tendency to fracture when we least want them to. In uncertain times, we need leadership, strong relationships both within and beyond our organisation, and we need trust.

Research by The Acumen Edelman Trust Barometer 2022, which measures how much we trust key institutions such as business, government, Non-Government Organisations and media, says that government and media are struggling to break a self-reinforcing cycle of mistrust fuelled by the rise of populism and misinformation.

The global pandemic hasn’t helped either. The Barometer found that three of the world’s largest federal systems - the US, Germany and Australia - suffered significant declines in trust. In contrast, NZ bucked the trend with an eight-point rise in trust in the government – perhaps helped by our unitary system of governance that supported an integrated approach to our pandemic response.

But we saw an eight point decline in trust in the media – much bigger than the global average. So people were concerned that what they read or watch in the media has a high level of misinformation or fake news. The Barometer uncovered the disquieting fact that 55 percent of respondents saw the media as a divisive force against 23 per cent who saw it as a unifying force.

No individual news sources were seen as trustworthy, and social media was seen as particularly untrustworthy – pointing to a healthy scepticism, which sits alongside high levels of concern about fake news.

Interestingly, the most trusted institution is business. People trust businesses and their employers more than they trust the government and the media.

“Amidst the turmoil of a global pandemic, increasing economic insecurity, and rising geo-political tensions, employers are seen as a source of trust and stability.”

Our business sector is seen as both competent and ethical, which presents an opportunity for businesses to provide the much needed stability required to stop the cycle of mistrust impacting our society and our economy. It also points to a responsibility to understand the value of that trust – where it has come from, and how to use it wisely.

PR can strengthen your trust foundations

A lot of what we do in Public Relations (PR) revolves around building and maintaining trust.

Traditionally, the media has played a big role in PR – media publications are where you can tell your stories, if they are newsworthy and of interest to the viewers and readers.

In the PR sector we have a good idea of which media can be trusted as being objective, and which not so much. Not every invitation to speak on a show or offer your opinion is a good one – it depends on the circumstances, so always ask for advice before saying yes.

And if you want to build trust within and around your own business, PR will help you fortify the foundations of transparency and ethics through communications.

Transparency can mean, for example, front footing it when things go wrong, or just being open about business decisions that you know won’t be popular – but being prepared to stand by your reasons and do what you can to mitigate the impact.

When things don’t go according to plan and the media are on your doorstep, good PR will help navigate those icy waters by saying what needs to be said without getting dragged into the frenzy. PR will support your reputation and rebuild trust.

Ethics are increasingly important for trust – social and environmental issues and how you treat your staff are core drivers of your reputation out there in consumer-land and will also impact who wants to work for you and B2B/industry sector relationships.

If you are walking the walk, PR can help you talk the talk - communicating your story, explaining what you are hoping to achieve and the ethics you believe in, and will help to align your business with people who have the same values.

Consumer decisions today go way beyond price point, as buyers consider environmental impacts like carbon footprint, waste management, organisational culture, social ethics and the local economy for every product in their basket. PR will help you tell that story and get it out in front of your audience, so that it is top of mind when people are making their purchasing decisions.

And finally, you need to have trust in your PR advisor – that is a core relationship that underpins your trust profile.