Trust in business is rising slightly, however the public is still very cautious when it comes to counting on business to do the right thing, according to Edelman’s 2010 Trust Barometer, the agency’s annual “trust and credibility” survey.
In the survey, released today, 54 percent of respondents said they trust U.S. business to “do what is right,” an 18 percent jump from last year’s survey, which found trust in business at a ten year low.
“Trust in business has improved, but the patient has a long road to go for a full recovery…Companies will have to prove the skeptics wrong and show they can achieve both profit and purpose,” said Edelman president and CEO Richard Edelman.
CEOs experienced a jump in trust, as 31 percent expressed trust in information from a company’s CEO – up 12 points, from 19 percent last year. The 31 percent figure is still very low, however.
Not surprisingly, trust in banks is near the bottom of the list, declining from 71 percent to 33 percent over the past two years.
Trust in government rose 16 points since last year, to 46 percent, “one of the largest increases in trust in government among the countries surveyed,” according to the report.
That’s not to say people aren’t skeptical.