The 2009 Edelman Trust Barometer report was just released, and frankly, the news is depressing. Trust in U.S. business is at all time low among “informed publics” ages 35 to 64 – lower today than after the Enron scandal and dot-com bust. The data from Europe isn’t much better, though emerging economies such as China seem to be faring better on this scale.
The data that should encourage those of us in business, however, is in the section on why trust matters: 91% of 25-to-64-year-olds around the world indicated they bought a product or service from a company they trusted, and 77% refused to buy a product or service from a distrusted company (my emphasis).
Here at EthicsPoint we’re extremely proud of our nearly 100% customer retention record, but this report is a good reminder that we can’t rest on our laurels, and simply listing customer orientation as a core value is not enough. We have to earn your trust every single day. If we fall short of that, please let us know, and hold us accountable to the commitments we make.