Business chiefs more trusted than politicians
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Corporations expose a “staggering” lead over government in polls of who the public perceives as competent
- Findings show that companies are viewed as more ethical than their elected counterparts
- Bosses expected to be leading voices on ‘societal issues’
- Edelman’s Confidence Barometer published for World Economic Forum in Davos
Businesses have taken a “staggering” lead over the government in a poll of who the public considers competent.
The findings – in a global survey of more than 32,000 people by public relations firm Edelman – show that companies are seen as more ethical than their elected counterparts, with bosses now expected to be the leading voice on “societal issues.”
Edelman’s Barometer of Confidence is released as government and business leaders gather in the Swiss ski resort of Davos for the World Economic Forum’s annual meeting.
Ineffective: Edelman’s confidence barometer is published as government and business executives gather at the Swiss ski resort of Davos
The international meeting has previously been criticized as an ineffective talking barrack – and for the shocking discrepancy of global elites arriving on private jets to peddle platitudes about climate change and poverty.
The Edelman Confidence Barometer for 2023 rates companies with a score of 11 for competence, slightly down from a year ago, but 53 points ahead of the government at -42.
In terms of ethics, companies have a score of 18 β higher than last year and 30 points ahead of the government at -12.
The report said confidence in business had been boosted by the treatment of workers during the pandemic and the “decisive” action in leaving Russia after the invasion of Ukraine.
Edelman chief executive Richard Edelman said, “The increased perception of things as ethical leads to higher expectations for CEOs to be a leading voice on social issues.” By a margin of six to one, the public wanted bosses to become more involved in issues such as climate change and workforce retraining.
The government is distrusted in 16 of the 28 countries surveyed, led by the US, UK and Japan.
The survey also pointed to a collapse in economic optimism. Half of the 28 countries saw a double-digit decline in belief that their families will be better off five years from now.
This has fallen to all-time lows in the US and UK β where only 23 percent were optimistic, according to the survey.
Dave Samson, Edelman’s global vice president of corporate affairs, said the findings also showed the world could face “increased polarization, slowing growth, deeper discrimination and an inherent inability to solve problems.”
He said bosses were central to restoring economic hope.