Gaining the trust of your stakeholders

When looking at the Edelman Trust Index 2017, it’s obvious that trust in business and in CEO’s is decreasing. Stats show that across 18 countries, only 52% of respondents trust that businesses will do what is right.

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In most cases, it is out of your hands to dictate to your stakeholders how they feel towards your business/brand, but there are ways you can improve the trust and relationship you share.

Results from the Edelman Trust Index state that there are 5 top points that improve trust:

  1. Treat your employees well
  2. Offer high-quality products/services
  3. Listen to your customers
  4. Pay fair share of taxes
  5. Have ethical business practices

Following these points, the question is, how exactly can you prove you’re doing these?

With the exception of point number 2 (which we would presume you are already doing!), your Annual Report should be providing this information anyway - so why are you still struggling to gain trust from your stakeholders?

Both regulation and best practice mean that - to a certain degree - you are already doing so, but adding this information in the correct places and ensuring that enough detail is included is vital.

So a few top tips from Jp:

  • Ensure that you are following the best practice suggestions that are relevant to you. There is no point discussing these top 5 points if you cannot back them up.
  • Be transparent. If you have had a negative experience, then do not shy away from the subject, be honest and most importantly, talk about how you are going to move forward.
  • Provide your stakeholders with a detailed, coherent story so that they fully understand your points.

And whilst doing all of these, try to ensure that you are providing your audience with a slick and short process in finding the 5 top points.

If you want to talk more about providing a transparent story, get in touch.