The 2020 Edelman Trust Barometer reveals that despite a strong global economy and near full employment, none of the four societal institutions that the study measures—government, business, NGOs and media—is trusted. The cause of this paradox can be found in people’s fears about the future and their role in it, which are a wake-up call for our institutions to embrace a new way of effectively building trust: balancing competence with ethical behavior.
Other key findings
- A majority of respondents in every developed market do not believe they will be better off in five years’ time, and more than half of respondents globally believe that capitalism in its current form is now doing more harm than good in the world.
- 83 percent of employees say they fear losing their job, attributing it to the gig economy, a looming recession, a lack of skills, cheaper foreign competitors, immigrants who will work for less, automation, or jobs being moved to other countries.
- Business ranks highest in competence, holding a massive 54-point edge over government as an institution that is good at what it does (64 percent vs. 10 percent). NGOs lead on ethical behavior over government (a 31-point gap) and business (a 25-point gap). Government and media are perceived as both incompetent and unethical.