“Our research indicates a reputation hangover for business from the Great Recession of 2008,” is how Richard Edelman frames the findings from the 2014 the Edelman Trust Barometer. Edelman, the world’s largest PR firm, has been issuing the Edelman Trust Barometer for fourteen years in order to measure public trust levels in business and government institutions. Mr. Edelman, the President and CEO, said that 2014 results showed the largest gap in trust levels since the study launched in 2001.
The technology industry maintains its leadership position with a trust level of 79% among informed publics and banks are at the bottom with 51% up only 4 points since 2009. Within the financial sector, the asset management industry ranks last with 46% trust.
What can be done to build credibility?
1.) Create visible public relationships through company partnerships, Linkedin company pages, Twitter, and video.
2.) Write thought leadership articles and show investors the thought process that makes you and your team unique.
3.) Share company announcements, event appearances, relevant news, and resources.
4.) Engage and empower your employees with education.