Can we rebuild the broken trust?

Trust in government and business is declining all over the world. Economic activity in modern society has become increasingly complex and, arguably, lacking in transparency. This has meant that the public has become increasingly suspicious and sceptical. The 2012 Edelman Trust Barometer - which gauges public confidence in powerful institutions like government, business and the media around the world - shows that 71% of the general public do not trust the government.

Trust is an important factor for individuals, especially when they are looking to buy into a brand. Trust allows us to rely on others. Trustworthiness, competence and honesty appear to be the most important factors contributing to credibility. Trust is defined by a wide variety of external and internal factors – but it can be improved through effective communication.

It is probably a good idea to cast your mind back to 2006 when the Cadbury’s salmonella outbreak occurred. They kept the outbreak secret for around six months and neglected several principles of communicating in a crisis: be truthful, be quick, and be proactive. Cadbury’s have since recovered from this, but it could have been avoided or limited.

It is certainly not healthy for an organisation, politician or society, even, to have a lack of credibility in the modern public sphere. So how can we go about rebuilding this broken trust?

Trust is developed when behaviour matches expectations. Trust is also related to reputation and ethics, and is crucial to business relationships because almost every business transaction requires a degree of good faith and trust. Being trustworthy generates a range of organisational benefits:

• Improved employee recruitment and retention
• Investor confidence
• Enhanced customer relationships and loyalty
• Increased risk taking and innovation
• Stronger brands.

Public relations and transparent communication is vital in building credibility, relevance, trust and lasting relationships. A good relationship requires a willingness to listen and true public relations is a two-way process. An organisation can gain just as much from listening as it can from gaining positive publicity. Also, being proactive with your communication rather than reactive to criticism is often the best approach to take.

So what are the main principles of maintaining and restoring public trust?

·       Be open and honest in business practices;

·      Openly share truthful information with your audiences;

•  Communicate clearly, precisely and effectively;
•  Be involved with the community; Create forums to encourage dialogue with constituencies

Laura Cristina-Les

Account Executive (intern)

MAPR De Montfort University, Leicester