Financial Services

Transcription

Financial Services

2016 Edelman
Trust Barometer
Financial Services
Methodology
General Online Population
‣
5 years in 25+ markets
‣
Ages 18+
‣
1,150 respondents per country
Informed Public
Online Survey in 28 Countries
‣
8 years in 20+ markets
‣ 16 years of data
‣
Represents 15% of total global population
‣ 33,000+ respondents total
‣
500 respondents in U.S. and China; 200 in all other countries
‣ All fieldwork was conducted between
October 13th and November 16th, 2015
Must meet 4 criteria:
‣
Ages 25-64
‣
College educated
‣
In top 25% of household income per age group in each country
‣
Report significant media consumption and engagement in business news
Mass Population
‣
All population not including Informed Public
‣
Represents 85% of total global population
28-country global data margin of error: General Population +/-0.6% (N=32,200), Informed Public +/- 1.2% (N=6,200), Mass Population +/- 0.6% (26,000). Countryspecific data margin of error: General Population +/- 2.9 ( N=1,150), Informed Public +/- 6.9% (N = min 200, varies by country), China and U.S. +/- 4.4% (N=500),
Mass Population +/- 3.0 to 3.6 (N =min 740, varies by country), half sample Global General Online Population +/- 0.8 (N=16,100).
2
Trust in Retrospect
2001
2002
2003
2004
2005
2006
2007
2008
Rising Influence
of NGOs
Fall of the
Celebrity CEO
Earned Media
More Credible
Than Advertising
U.S. Companies
in Europe Suffer
Trust Discount
Trust Shifts from
“Authorities” to
Peers
“A Person Like
Me” Emerges as
Credible
Spokesperson
Business More
Trusted Than
Government
and Media
Young Influencers
Have More Trust
in Business
2009
2010
2011
2012
2013
2014
2015
2016
Business Must
Partner with
Government to
Regain Trust
Trust is Now an
Essential Line
of Business
Rise of
Authority
Figures
Fall of
Government
Crisis of
Leadership
Business to
Lead the Debate
for Change
Trust is
Essential to
Innovation
Growing
Inequality
of Trust
3
General
Population
Trust Matters
Percent who engage in each behavior based on trust
Behaviors for Distrusted Companies
48
Refused to buy products/services
42
Criticized companies
26
Shared negative opinions
35
Disagreed with others
20
Paid more than wanted
Behaviors for Trusted Companies
68
Chose to buy products/services
59
Recommended them to a friend/colleague
41
Shared positive opinions online
Defended company
Paid more
trusted
#1 most
content creators:
Friends and
Family
38
37
trusted
#1 most
media source:
Online Search
Engines
12
Sold shares
Bought shares
18
Source: 2016 Edelman Trust Barometer Q371-589. Thinking back over the past 12 months, have you taken any of the following actions in relation to companies that you trust? Please
answer yes or no to each action. General Population, 28-country global total, questions asked of half the sample. Q377-380. Still thinking about the past 12 months, have you taken any of
the following actions in relation to companies that you do not trust? Please answer yes or no to each action. General Population, 28-country global total, question asked of half the sample.
4
1
State of Trust
Globally and in the Financial Services Sector
Post-Recession Highs
Percent trust in the four institutions of government, business, media and NGOs, 2012 vs. 2016
Informed
Public
Media
NGOs
64
57
66
65
56
63
53
60
General
Population
53
51
53
55
54
51
50
49
46
Business
49
48
46
Government
62
58
48
58
46
56
54
48
45
53
50
2013
42
41
49
49
2014
2015
2016
2012
43
39
38
47
2012
51
2013
2014
2015
2016
Source: 2016 Edelman Trust Barometer Q11-14. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right
using a nine-point scale, where one means that you “do not trust them at all” and nine means that you “trust them a great deal.” (Top 4 Box, Trust) Informed Public
and General Population, 25-country global total.
6
Sector Trends:
General
Population
Financial Services Rebounds
Percent change in trust in each industry sector, 2012-2016
75%
70%
Food & Beverage
Food & Beverage
1
Consumer Packaged Goods
Telecommunications
4
2
Energy
5
65%
Consumer
Packaged Goods
60%
Telecommunications
55%
Energy
50%
Financial Services
45%
Financial Services
40%
2012
2013
2014
2015
2016
8
Source: 2016 Edelman Trust Barometer Q45-429. Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same nine-point scale where
one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General Population, 25-country global total.
7
General
Population
Increased Trust in Financial Services
Percent trust in the financial services sector, 2015 vs. 2016 (27-country global total)
2016
2015
Increased or equal trust in financial services in 24 countries
75
77
73
69
67 67
67
62
64
57
50%
48
51
56 56 55 56
50
54
51
59
52
45
45
48
43
47
39
37
41 43
43
40 42
41
36
35
36
40
36
39
34
37
36
35 33 34
+13
32
-7
+7
France
Spain
Ireland
Sweden
Turkey
Poland
Japan
+7
Italy
Australia
+5
U.K.
+9
Russia
+8
Netherlands
+5
Argentina
+7
S. Korea
U.S.
Canada
Brazil
Singapore
Mexico
Malaysia
UAE
Indonesia
China
GDP5
54
25
22
+10
61
57
46
29
Global 27
74
Hong Kong
72
S. Africa
76
India
72
Germany
Five of six major
financial centers saw
increased or equal
trust
Source: 2016 Edelman Trust Barometer Q45-429. Please indicate how much you trust businesses in each of the following industries to do what is right. Again,
please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust)
General Population, 27-country global total.
8
GDP 5 = U.S., China, Japan, Germany, U.K.
Financial Services Sub-Sectors:
Mobile Banking Most Trusted
General
Population
Credit Cards/Payments & Banks Biggest Gainers
Trust in various industry sub-sectors (27-country global total)
2016
2015
63%
59%
52%
57%
51%
51%
47%
49%
Not asked in 2015
46%
Credit Cards/
Payments
Banks
Banks
Financial Advisory/
Asset Management
Mobile banking/
e-payments
Source: 2016 Edelman Trust Barometer Q61A-65A. Now thinking about specific sectors within the financial services industry, please indicate how much you trust
businesses in each of the following sectors to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and
nine means that you “trust them a great deal.” General Population, 27-country global totals, question asked of one-fifth the sample.
9
Mass Population
Least Trusting
Trust in the financial services sector,
Informed Public vs. General
Population vs. Mass Population, 2016
Trusters
Neutrals
Distrusters
Source: 2016 Edelman Trust Barometer Q45-429. Please
indicate how much you trust businesses in each of the
following industries to do what is right. Again, please use
the same 9-point scale where one means that you “do not
trust them at all” and nine means that you “trust them a
great deal”. (Top 4 Box, Trust) Informed Public, General
Population, and Mass Population, 28-country global total.
General
Population
Informed
Public
Financial Services Index:
Mass
Population
59
Global
52
Global
51
Global
84
84
84
77
72
70
69
69
69
67
62
57
56
55
55
52
51
China
India
Indonesia
Mexico
Malaysia
Colombia
Singapore
UAE
U.S.
Brazil
S. Africa
Australia
S. Korea
Canada
Hong Kong
U.K.
Turkey
76
75
74
73
67
67
65
64
China
Indonesia
India
UAE
Malaysia
Mexico
Colombia
Singapore
74
73
72
72
66
65
64
63
Indonesia
UAE
China
India
Malaysia
Mexico
Colombia
Singapore
Canada
S. Africa
Brazil
Hong Kong
U.S.
S. Korea
Italy
Japan
Spain
France
Netherlands
Argentina
Ireland
Russia
Poland
Sweden
Germany
S. Africa
Brazil
Canada
Hong Kong
U.S.
S. Korea
Australia
Japan
Turkey
Argentina
Netherlands
Russia
U.K.
Italy
Poland
Sweden
Ireland
Spain
France
Germany
56
56
54
53
51
50
49
48
47
44
44
41
41
40
38
36
34
57
56
56
54
54
52
48
47
46
43
43
42
41
40
39
37
36
35
34
32
47
47
45
44
43
42
40
40
38
36
36
33
32
32
Australia
Japan
Turkey
Argentina
Netherlands
Russia
Poland
U.K.
Italy
Ireland
Sweden
Spain
France
Germany
8 point gap
between
informed public
and mass
population
Half of countries are
distrusters for mass
population
10
2
Trust
Inequality
A Significant Divide
Percent trust in the four institutions of
government, business, media and NGOs, 2012 to 2016
Informed
Public
60
Mass
Population
58
56
56
12pt
Gap
53
9pt
Gap
48
47
46
46
2014
2015
in trust inequality-which jumps to a
5-point increase
among the GDP5
44
2012
2013
3-point increase
2016
and Mass Population, 25-country global total.
12
Financial Services: Following the Same Trend
Percent trust in financial services, 2012 to 2016 (25-country global total)
Informed
Public
Mass
Population
Trust in Financial Services
56
50
4pt
Gap
47
46
51
52
47
47
2014
2015
50
6pt
Gap
43
2012
2013
2016
Informed Public and Mass Population, 25-country global total.
13
Accelerating Disparity: A Global Phenomenon
Trust Index 2012 – 2016, percentage point change in the size of
the trust gap between Informed Public and Mass Population
12
Decreased Gap
Increased Gap
Five of six major financial centers
see growing trust disparity
10
8
8
7
5
4
3
4
4
3
3
3
3
2
2
1
1
0
0
Gap has increased in 16 of 25 countries
Canada
Japan
8
6
6
4
13
8
7
6
14
8
2
7
8
3
10
13
6
13
10
14
15
2016 Gap
12
12
16
17
19
9
15
10
10
8
16
11
10
9
16
10
3
8
8
3
8
11
3
9
6
10
10
GDP 5
Sweden
Poland
1
UAE
Russia
11
Argentina
Ireland
7
Italy
Germany
4
Indonesia
Brazil
7
Australia
China
9
India
Malaysia
2012 Gap
Global 25
S. Korea
-5
Singapore
Netherlands
-4
Mexico
Hong Kong
-4
Spain
-4
U.S.
-3
U.K.
-2
France
-2
using a nine-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal.“ (Top 4 Box, Trust) Informed Public
and Mass Population, 25-country global total, 2012 vs 2016.
14
Financial Services Sector Gap Disparity
Trust in the financial services sector, Informed Public vs. Mass Population, 2016
Informed
Public
Mass
Population
Gap
U.S.
69
51
18
Spain
47
33
14
Brazil
67
54
13
Mexico
77
65
12
France
44
32
12
UK
52
40
12
China
84
72
12
Italy
49
38
11
Indonesia
84
74
10
Singapore
69
63
6
Germany
34
32
2
Hong Kong
55
53
2
Country
Informed Public and Mass Population, 28-country global total.
15
High-income
respondents
Trust Index:
Low-income
respondents
A Link to Income Inequality
Average trust in institutions, respondents in top quartile of income vs.
respondents in bottom quartile of income in each country,
ranked by the size of the gap between them
Four of six financial centers see a doubledigit trust gap between high and low income
respondents
18 of 28 countries have a double-digit trust gap
between high-income and low-income respondents
52
China
Canada
Malaysia
Australia
U.K.
27
Indonesia
Russia
58
37
Germany
Netherlands
55
30
South Korea
India
36
Argentina
Brazil
66
48
44
UAE
19
55
51
38
South Africa
19
37
71
62
59 59
46
40 40
Poland
20
56
Spain
22
32
Sweden
26
31
Turkey
29
32
Japan
31
46
73
68
65
53
50
45
33
France
30
U.S.
GDP 5
45
50 49
40
35
Global
52
48 49
Singapore
42
56
Hong Kong
52
69
62
62
57
46
67
Ireland
68
64
Italy
50%
74
Mexico
71
60
80
79
78
Colombia
78
Source: 2016 Edelman Trust Barometer Q13. Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a nine-point scale, where one means that you
“do not trust them at all” and nine means that you “trust them a great deal.” (Top 4 Box, Trust) General Population, 28-country global total, lower vs. upper quartile income in each country. [“CEOs are fairly paid
relative to the rest of the workforce”]
16
The Inversion of Influence
Authority
& Influence
of
85% population
Mass
Population
48 Trust Index
Influence
Authority
of
15% population
Informed
Public
60 Trust Index
and Mass Population, 28-country global total.
17
General
Population
Inversion: Peers, Employees More Credible than Leaders
Percent who rate each spokesperson as extremely/very credible
2015
2016
67
63
64
64
CEO credibility
increased the most
63
57
53
52
50
49
48
50
48
44
41
39
35
+8
+6
Technical
expert
Academic
expert
A person
like
yourself
33
Financial
industry
analyst
Employee
CEO
NGO
representative
Board of
Directors
Government
official/regulator
Source: 2016 Edelman. Trust Barometer Q130-587. Below is a list of people. In general, when forming an opinion of a company, if you heard information about a
company from each person, how credible would the information be—extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box,
Very/Extremely Credible) General Population, 27-country global total.
18
3
An Opportunity
for Business
A Position of Strength
Trust
2015
Percent trust in the four institutions of government, business, media and NGOs, 2015 vs. 2016 and
percent trust, 2015 and 2016, and percent who trust each institution to keep up with the changing times, 2016
Business closing NGO’s long-held lead in trust
63
67
63
+4
Trusted to
keep pace
Business most trusted to keep pace
63
67
69
63
57
Informed
Public
Trust
2016
63
57
+6
61
51
General
Population
55
+4
NGOs
53
48
51
55 55
48
53
+5
Business
NGOs
and General Population, 27-country global total. Q441-444 Below is a list of institutions. For each one, please indicate how much you trust that institution to keep
up with the changing times using a 9-point scale where one means that you “do not trust them at all to keep up with change” and nine means that you “trust them a
great deal to keep up with change”. (Top 4 Box, Trust) Informed Public and General Population, 28-country global total.
Business
20
Business Must Lead to Solve Problems
General
Population
80% agree
up from 74% in 2015
“A company can take
specific actions that both
increase profits and improve
the economic and social
conditions in the community
where it operates.”
Source: 2016 Edelman Trust Barometer Q249. Please indicate how much you agree or disagree with the following statement? (Top 4 Box, Agree).
General Population, 27-country global total, question asked of half the sample.
.
21
4
Leadership in a
Divided World
Addressing Trust Inequality
Employee
Advocacy
Engagement
Trust
Actions
Values
23
Leadership in a Divided World:
Employee
Advocacy
General
Population
Employees are Essential Advocates
Company CEO
Senior executive
Most trusted spokesperson to communicate each topic
Employee
Activist consumer
Employees Most Trusted
Academic
48
Media spokesperson
37
33
32
25
27 28
27
30
28
24
21
21
19
19
25
22
19
Financial earnings &
operational
performance
9
Business practices/
crisis handling
31
26
25
24 23
20
19
14
8
28
18
16
18
13
Treatment of
employees/customer
11
10
8
Partnerships/
Programs to address
societal issues
Innovation efforts
Views on
industry issues
Source: 2016 Edelman Trust Q610 Who do you trust MOST to provide you with credible and honest information about a company's financial earnings and operational performance, and top leadership’s accomplishments?
25
Q611 a company’s business practices, both positive and negative, and its handling of a crisis? Q612 a company’s employee programs, benefits and working conditions, and how a company serves its customers and
prioritizes customer needs ahead of company profits? Q613 a company’s partnerships with NGOs and effort to address societal issues, including those to positively impact the local community? Q614 a company’s
innovation efforts and new product development? Q615 Who do you trust MOST to provide you with credible and honest information about a company’s stand on issues related to the industry in which it operates? General
Population, 28-country global total.
General
Population
Financial Services: Least-Trusted Sector
is Most-Trusted Employer
GAP
Percent trust in own company within each industry by employees, and
trust in that industry sector among the general population
Automotive
74 / 61
13
Telecommunications
75 / 60
15
Financial Services
80 / 52
Fashion
77 / 62
15
Trust in Own
Company
General
Sector Trust
Professional
Services
79 / 63
16
28
Source: 2016 Edelman Trust Barometer Q420. Which of the following industries best describes the company you work for…? Q525-526. Thinking about your own company and other
companies in your industry, please indicate how much you trust each to do what is right using a 9-point scale where one means that you “do not trust them at all” and nine means that you “trust
them a great deal”. (Top 4 Box, Trust) Q206 Which of the following best describes your current employment status? (Net: “Employed full-time” and “Employed part-time”) General Population
among those employed (Q206), 28-country global total. Q525-526 asked of half the sample. Q45-429. Please indicate how much you trust businesses in each of the following industries to do
what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General
26
General
Population
Financial Services Employees Weigh-In on
Societal Issues
Company
engaged
Employees who say their company and their CEO are
engaged in societal issues, by industry sector
62%
61%
53%
52%
40%
Technology
Food & Beverage
60%
52%
51%
CEO
engaged
52%
41%
Health
Financial Services
Energy
Source: 2016 Edelman Trust Barometer Q527-529. Does your company and your company’s CEO get involved in addressing broader societal issues beyond the
core business, through programs or relationships with other companies? (Yes summary) General Population, 28-country global total, question was asked of half the
sample.
27
General
Population
Employee Advocacy in Financial Services Sector
Increases With Societal Issue Engagement
Employees of F.S.
companies NOT
engaged in societal
issues
Percent who agree with each statement, comparing those who
work at companies involved in addressing broader societal issues
vs. those who do not, financial services sector
Impact of
Company
Engagement
Level of Employee Advocacy/Commitment
93
75
Do the best possible job for the customer
71
Committed to achieving our strategy
92
89
70
Confidence in the future of the company
Stay working for the company
Employees of F.S.
companies engaged
in societal issues
88
64
Recommend products and services to others
68
Motivated to perform
68
Recommend company as an employer
68
87
86
83
Source: 2016 Edelman Trust Barometer Q527-529 Does your company get involved in addressing broader societal issues beyond the core business, through
programs or relationships with other companies? (Yes summary) Q530-536. Thinking about your current company, please indicate how much you agree with each
of the following statements using a nine-point scale where one means that you “strongly disagree” and nine means that you “strongly agree”. (Top 4 Box, Agree)
General Population, 28-country global total, question was asked of half the sample.
18
21
19
24
19
18
15
28
Engagement
General
Population
Transformed Media Landscape
Percent trust in each source for general news and information
2012
2013
2014
2015
Search engines*
61
58
61
62
63
66
3
58
Traditional media
62
59
61
57
58
58
0
53
Online-only media**
46
44
47
45
53
58
5
Owned media
41
40
43
43
46
51
5
Social media
44
41
44
45
44
51
7
63
46
44
Industry
2016 Millennials
Gap
Millennials
2012
2013
2014
2015
2016
even more trusting
of digital media than
general population
Source: 2016 Edelman Trust Barometer Q178-182. When looking for general news and information, how much would you trust each type of source for general news and information? Please use a
nine-point scale where one means that you “do not trust it at all” and nine means that you “trust it a great deal.” (Top 4 Box, Trust) General Population and Millennials, 25-country global total.
*From 2012-2015, “Online Search Engines” were included as a media type. In 2016, this was changed to “Search Engines.”
**From 2012-2015, “Hybrid Media” was included as a media type. In 2016, this was changed to “Online-Only media.”
30
General
Population
Every Voice Matters
Percent who trust information created by each author on social networking
sites, content sharing sites and online-only information sources, 2015 vs. 2016
2016
2015
78
67
61
65
62
55
53
50%
49
46
39
46 44
40 42
34
+11
My friends
and family
37
30 32
31
26
+10
An academic
expert
Companies Employees of A company
that I use
a company
CEO
A journalist A well-known
online
personality
Elected
officials
Celebrities
Companies I
don’t use*
Source: 2016 Edelman Trust Barometer Q598-609. Thinking about the information you consume, how much do you trust the information from each of the following
authors or content creators? (Top 4 Box, Trust) General Population, 27-country global total, question asked of half the sample.
* Asked as “Brands I don’t use” in 2015.
31
Peers Influence Purchase
The impact of online and offline conversations about brands
with friends and other people like me
Build Inspiration
They give me a sense of community
They get me
Push Consideration
They push me to try new things
They suggest products/services
They make me trust the brand more
Moment of Truth
They help me overcome concerns
They help me make decisions
They warn me about the risks
%
16
17
%
25
27
29
%
37
44
45
75% peers
influence
purchase decisions
at the moment of truth
Source: 2015 Earned Brand Study of Global Consumers
Source: The Edelman Earned Brand study 2015, Q41: Thinking about the conversations you have online and offline with friends and other people like you about
brands, products and services you purchase, what impact do they have on you?
32
Values
CEO Challenge:
More Than Half Don’t Trust FS CEOs
General
Population
Percent who trust CEOs to do what is right,
financial services sector
Five of six financial centers fall into
distruster territory regarding CEOs
Mexico
Indonesia
China
71
76
India
71
Malaysia
Argentina
69
UAE
Canada
Brazil
S. Korea
65
Colombia
Australia
Source: 2016 Edelman Trust Barometer Q450. Please indicate how much you trust CEOs in the financial services industry to do what is right. Please use the 9point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General Population, 28country global total.
64
68
76
56
Singapore
Japan
51
Hong Kong
42
50
Turkey
40
47
U.S.
40
Poland
Germany
33
40
41
44
39
Italy
32
Netherlands
31
Russia
29
31
U.K.
27
Spain
Ireland
GDP 5
26
30
France
45
Sweden
48
Global 28
50%
53
S. Africa
In 20 of the 28 countries, the general population do not trust CEOs
in the financial services industry to do what is right
34
General
Population
Personal Values and History Matter
Percent who agree that each type of information
is important in building trust in a CEO
CEOs must engage
both directly (86%)
and via media (75%)
79%
70%
Their personal
values
The obstacles
they have overcome
65%
Their personal
success story
62%
Their education and
how it shaped them
Source: 2016 Edelman Trust Barometer Q507-514. Thinking about how a CEO communicates with a variety of groups and individuals, how important are each of the following activities a CEO could engage in?
Please use a nine-point scale where one means that attribute is “not at all important to building your trust” and nine means it is “extremely important to building your trust”. [Media Engagement net = Q507
‘Interviews with the media,’ and ‘Q512 ‘Sharing their views on a blog or on social media.’ Direct Engagement net = Q508 ‘Communications with employees,’ and ‘Participation in industry conferences.’] Q516-524.
For you to trust a CEO, how important is it that you have information on each of the following aspects of the CEO’s personal life outside of their business? Please use a nine-point scale where one means that
attribute is “not at all important to building your trust” and nine means it is “extremely important to building your trust. (Top 4 Box, Important) General Population, 28-country global total, question asked of half the
sample.
35
Actions
General
Population
Purpose and Profits Matter
Percent who agree that CEOs should be personally visible in discussing…
7 in10
8 in10
Financial
Results
Societal
Issues
‣ Income inequality
‣ Public policy discussions
‣ Personal views on
societal issues
Source: 2016 Edelman Trust Barometer Q496-506. How visible do you think a CEO should personally be in these different types of business situations? Please
use a 9-point scale where one means that it is “not visible at all” and nine means that it is “extremely visible”. (Top 4 Box, Visible) General Population, 28-country
global total, question asked of half the sample.
37
General
Population
Trust-Building Behaviors:
Data, Quality and Safety Are Critical for Financial Services
Importance vs. performance of behavior in building trust in a company
Protects
Consumer Data
86 / 65
21
Importance
23
Ensures
Quality Control
85 / 62
24
Transparent
Social Responsibilities
80 / 56
GAP
23
Keeps Me and My
Family Safe
81 / 58
16
Makes My
Life Easier
80 / 64
Performance
18
Develops
Intellectual Property
74 / 56
Source: 2016 Edelman Trust Barometer. Q335-440 How important is each of the following behaviors to building your TRUST in a company? Use a 9-point
scale where one means that behavior is “not at all important to building your trust” and nine means it is “extremely important to building your trust” in a
company. (Top 4 Box, Importance) Q344A-J How well do you think the financial services industry is performing on the behaviors listed below. Use a 9-point
scale where one means they are “performing extremely poorly” and nine means they are “performing extremely well”. (Top 4 Box, Performing) General
38
Trust Building Behaviors:
Actions Leading to Better Performance
BEHAVIORS
ACTIONS
Protects Consumer Data
BEHAVIORS
ACTIONS
Transparent Social Responsibilities
Business + Social Purpose
Develops Intellectual Property
Research & Analytics
Keeps Me and My Family Safe
Financial Education
Data Privacy & Security
Ensures Quality Control
Makes My Life Easier
Digital Strategy
39
Embracing the
New Reality of Influence to
Address Trust Inequality
Influence
‣ Ignite your most powerful advocate, your employees
‣ Engage cross channel to meet stakeholders, where
they are, about what most interests/concerns them
‣ Express your values through honest, ethical
engagement in which you share your story
Employee
Advocacy
TRUST
Engagement
Actions
Values
‣ Bridge the gap in trust building behaviors by taking
action
Leadership
40
Appendix:
2016 Trust Barometer
Additional Data
Sector Trends:
General
Population
Financial Services Rebounds
Trust in each industry sector, 2012-2016
Industry
2012
2013
2014
2015
2016
5 yr.
Trend
Technology
76%
73%
75%
73%
74%
2
Food & Beverage
63%
63%
64%
63%
64%
1
Consumer Packaged Goods
57%
60%
61%
60%
61%
4
Telecommunications
58%
60%
61%
59%
60%
2
55%
Automotive
62%
65%
69%
66%
60%
2
50%
Energy
53%
57%
57%
56%
58%
5
45%
Pharmaceutical
54%
54%
55%
54%
53%
1
Financial Services
43%
47%
48%
48%
51%
8
75%
70%
65%
60%
40%
2012
2013
2014
2015
2016
Source: 2016 Edelman Trust Barometer Q45-429. Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same nine-point scale where
one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General Population, 25-country global total. *From 2012-2014, Pharma included as
subsector(Q). **From 2012-2015, Pharma included as an industry sector (Q43-60). 2012-2014 data recalibrated as a sector.
42
Mass Population Less Optimistic
Percent of the Informed Public vs. Mass Population who
believe they and their families will be better off in five years’ time
Informed
Public
Mass
Population
In 19 of 28 countries, less than half of Mass Population
think they will be better off in five years
87
81 81
79
69
63
50%
58
57
55
48
47 46
41
37
28
21 20
19
31
47
45
31
33
33
46
44
42
34
50
34
36
36
52
46
37
39
45
46
49 47
55
49
57
55
49
49
73
64 62 64 64 65
69
73
70
83
74
51
24
India
Colombia
Indonesia
UAE
China
Brazil
Argentina
Mexico
Malaysia
Spain
S. Africa
Ireland
Turkey
Canada
18
Singapore
13
U.S.
10
Russia
21
Hong Kong
Italy
10
Poland
Australia
13
Sweden
12
Netherlands
10
S. Korea
17
U.K.
Germany
France
Japan
GDP 5
Global
15
Source: 2016 Edelman Trust Barometer Q445. Thinking about the economic prospects for yourself and your family, how do you think you and your family will be doing
in five years' time? (Top 2 Box, ‘Much better off than today,’ and ‘Somewhat better off than today.’) Informed Public and Mass Population, 28-country global total.
43
Desired Leadership Qualities
60% of
Characteristics that make a CEO trustworthy, percent who
selected each as one of the top five in each region
North America
Latin America
General
Population
global
respondents
cannot name any CEOs*
Europe
APAC
Honest
59%
Ethical
47%
Honest
53%
Honest
39%
Ethical
48%
Honest
44%
Competent
43%
Visionary
35%
Competent
26%
Competent
36%
Experienced
28%
Decisive
31%
Transparent
26%
Visionary
34%
Ethical
27%
Ethical
31%
Sincere
24%
Innovative
33%
Transparent
27%
Competent
26%
Source: 2016 Edelman Trust Barometer Q515. Which of the following personal characteristics make a CEO trustworthy? Please select the five most important
characteristics that make a CEO trustworthy. General Population, 28-country global total, question asked of half the sample.
* Source: 2016 Edelman Trust Barometer CEO Supplement Q1. Thinking about company CEOs in general, how many CEOs could you name in full? General
44
General
Population
Purpose Impacts Trust
Percent who cite each as a reason for why their trust in business has increased or decreased
Reasons Trust in
Business Has Increased
Reasons Trust in
Business Has Decreased
59%
Produces
economic growth
50%
Fails to contribute
to the greater good
45%
Contributes to the
greater good
39%
Lacks economic growth
40%
Allows me to be a productive
member of society
36%
No public services
Source: 2016 Edelman Trust Barometer Q328-329. For which of the following reasons, if any, has your trust in each institution listed below increased over the past year? Q330-331. For which
of the following reasons, if any, has your trust in each institution listed below decreased over the past year? General Population, 28-country global total.
45
General
Population
Global Increase in Business Trust
Percent trust in business, 2015 vs. 2016
2016
2015
Increased or equal trust in business in 25 countries
76
50
48
51
60
53
43
52 51 51
48
46
44 46
46 46 46
36
36
40
43
42 42 42
32
+16
+10
Sweden
30
France
U.K.
Spain
U.S.
+12
Australia
Argentina
Canada
Italy
Singapore
S. Africa
Brazil
UAE
+10
India
China
+12
Indonesia
Mexico
GDP5
Global 27
+12
43
38 39 36 38 37 38
30
58 57 56
33
Netherlands
47
56
Malaysia
48
57
S. Korea
50%
60
60
56
57
Russia
58
53
64
59
Poland
67
Hong Kong
65
Germany
68 69
Turkey
64
Japan
70
Ireland
70 71
using a nine-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal.“ (Top 4 Box, Trust) General
46
General
Population
Trust-Building Attributes
Company Importance vs. Performance
%
%
Importance Performance
Gap
Integrity
54
31
23
Has Ethical Business Practices
51
31
24
Takes Responsible Actions To Address An Issue Or A Crisis
54
31
23
Has Transparent And Open Business Practices
55
31
24
Engagement
55
32
23
Treats Employees Well
58
33
25
Listens To Customer Needs And Feedback
58
33
25
Places Customers Ahead Of Profits
55
31
24
Communicates Frequently And Honestly On The State Of Its Business
48
29
19
Products
49
34
15
Offers High Quality Products Or Services
58
35
23
Is An Innovator Of New Products, Services Or Ideas
41
32
9
Purpose
43
28
15
Works To Protect And Improve The Environment
50
30
20
Creates Programs That Positively Impact The Local Community
44
29
15
Addresses Society's Needs In Its Everyday Business
45
29
16
Partners With NGOs, Government And Third Parties To Address Societal Issues
34
24
10
Operations
37
28
9
Has Highly-Regarded And Widely Admired Top Leadership
39
27
12
Ranks On A Global List Of Top Companies, Such As Best To Work For Or Most Admired
36
27
9
Delivers Consistent Financial Returns To Investors
36
28
8
Source: 2016 Edelman Trust
Barometer Q80-95 How important is
each of the following attributes to
building your TRUST in a company?
Use a 9-point scale where one means
that attribute is “not at all important to
building your trust” and nine means it
is “extremely important to building
your trust” in a company. (Top 2 Box,
Importance) Q114-129 Please rate
businesses in general on how well
you think they are performing on each
of the following attributes. Use a 9point scale where one means they are
"performing extremely poorly" and
nine means they are "performing
extremely well". (Top 2 Box,
Performance) General Population, 28country global total.
47
General
Population
Leaders Seen As Underperforming
Importance vs. performance of 16 trust-building leadership attributes
%
%
Importance Performance
Gap
Integrity
51
27
24
Exhibits highly ethical behaviors
50
24
26
Takes responsible actions to address an issue or crisis
53
33
20
Behaves in a way that is transparent and open
50
24
26
Engagement
49
24
25
Treats employees well
52
25
27
Listens to customer needs and feedback
50
25
25
Places customer ahead of profits
47
23
24
Communicates frequently and honestly on the state of their company
46
23
23
Products
45
33
12
Places a premium on offering high-quality products or services
48
34
14
Is focused on driving innovation and introducing new products/services/ideas
42
32
10
Purpose
40
25
15
Is dedicated to protecting and improving the environment
41
22
19
Ensures that the company creates programs that positively impact the local community in which it operates
42
28
14
Ensures that the company addresses society's needs in its everyday business
43
26
17
Ensures that the company partners with NGOs, government and third parties to address societal issues
33
24
9
Operations
37
28
9
Attracts and retains a highly regarded and widely admired top leadership team
40
29
11
Is ranked on a global list of top CEOs, such as "The Best Performing CEOs in The World"
29
25
4
Manages the company in a way that delivers consistent financial returns
41
29
12
Source: 2016 Edelman Trust
Barometer. Q462-478 How important is
each of the following attributes to
building your trust in CEOs? (Top 2
Box, Important) Q479-495 Please rate
CEOs on how well you think they are
performing on each of the following
attributes. Use a nine-point scale where
one means they are “performing
extremely poorly” and nine means they
are “performing extremely well.” CEO
questions use the same scales as the
business questions. (Top 2 Box,
Performance) General Population, 28country global total.
48
General
Population
CEO Focus Misplaced
Percent who agree with each statement about CEOs
Too Much
Not Enough
67%
Focus on short-term
financial results
57%
Positive
long-term impact
57%
Lobbying
49%
Job creation
Source: 2016 Edelman Trust Barometer Q451-461. Thinking about CEOs, how strongly do you agree or disagree with the following statements? General Population.
[‘CEOs do too much lobbying,’ ‘Given that the average tenure of CEOs is just four years, CEOs aren’t in their role long enough to make a positive impact,’ ‘CEOs are
too focused on short-term financial results’ (Top 4 Box, Agree), ‘CEOs can be trusted to create jobs’ (Bottom 5 Box, Do Not Agree)], 28 country global total.
49
General
Population
Increased Trust in Banking
Percent trust in the banking sector, 2015 vs. 2016 (27-country global total)
2016
2015
Increased or equal trust in banking in 25 countries
73
70
57
50%
51
77
73
71 71
67
57
57
56
65
64
56
51
64
60
61
57
54
48
51
51
43
51
46 48 46 46
40
46
46
37
35
41
39
30
29
38
33 34
30
28
Spain
France
Italy
Turkey
53
49
25
19
+13
+10
Germany
+17
Netherlands
+11
U.K.
Sweden
Russia
Poland
+11
Australia
+12
S. Korea
+10
Argentina
Brazil
S. Africa
UAE
Singapore
Hong Kong
Mexico
+22
Indonesia
Malaysia
China
India
GDP 5
Global 27
+13
U.S.
17
57
Japan
79
Canada
83 81 82
Ireland
85 87 83 84
nine means that you “trust them a great deal.” General Population, 28-country global total and regions, question asked of one-fifth the sample.
50
General
Population
Increased Trust in Credit Cards/Payments
Percent trust in the credit cards/payments subsector, 2015 vs. 2016 (27country global total)
2015
2016
Increased or equal trust in Credit Cards/Payments in 24 countries
8282
54
50
64
62
57
51
62
53
61
50
71
68 66
65
58
49
57
46
54
45
52
51
50
50
47
46
46
46
49
4648
48
40
48
33
28
Poland
Australia
Russia
Ireland
U.K.
France
Germany
Sweden
+17
Netherlands
S. Africa
S. Korea
Italy
Canada
Argentina
+11
+11
Malaysia
+13
U.S.
Brazil
Singapore
Indonesia
Mexico
India
China
GDP 5
Global 27
+12
5250
45
39
32
+22
48
+20
+12
Japan
56
66
UAE
60
67
67
62
61
Hong Kong
50%
52
6768
Turkey
59
72
Spain
73
69
nine means that you “trust them a great deal.” General Population, 27-country global total, question asked of one-fifth the sample.
51
General
Population
Increased Trust in Financial Advisory/Asset Management
Percent trust in the financial advisory/asset management subsector, 2015 vs.
2016 (27-country global total)
2015
2016
Increased or equal trust in Financial Advisory/Asset Management in 19 countries
21
+15
+10
+10
2827
Japan
22
Italy
23
Russia
3735
3332
31
Canada
32
5655 5754
Hong Kong
34 3232
29
UAE
Poland
Argentina
U.S.
Singapore
S. Africa
Brazil
Malaysia
38
Indonesia
3840 3739
India
35
Germany
43
+10
China
Mexico
GDP 5
44
39
Ireland
36
+15
Global 27
46 4445
U.K.
42
48
42
45
Turkey
49
S. Korea
46
5557
Netherlands
50%
5961 5859 5858
France
58
71
69
66
64 64
59
Sweden
66
63
Spain
72
69
Australia
73
52
General
Population
Increased Trust in Insurance
Percent trust in the insurance subsector, 2015 vs. 2016 (27-country global
total)
2015
2016
Increased or equal trust in Insurance in 20 countries
32
43
40 4039
38
38
37
37 3536
31
29
27
25
Germany
Poland
Italy
France
Australia
S. Africa
Sweden
Turkey
Argentina
U.S.
Singapore
Brazil
Malaysia
China
Mexico
GDP 5
39
+14
+18
Global 27
38
5150
45
41
39
39
37
36
+10
+12
S. Korea
38
47
Japan
49
47
45
44
Canada
47
52
Indonesia
48
Hong Kong
56
67
66
63 63
60
59
UAE
51
India
62
56
U.K.
47
51
64
60
Russia
57
54
50%
66
Spain
67
63
Ireland
71
66
77
71
Netherlands
72
53
Mobile Banking Most Trusted
General
Population
Credit Cards/Payments & Banks Biggest Gainers
2015
Germany 2016
2016
Trust in various industry sub-sectors (27-country global total) and Germany
63%
59%
49%
52%
57%
51%
51%
51%
47%
46%
39%
49%
38%
31%
N/A
Mobile banking/
e-payments
Credit Cards/
Payments
Banks
Insurance
Financial Advisory/
Asset Management
nine means that you “trust them a great deal.” General Population, 27-country global totals and Germany, question asked of one-fifth the sample.
54
General
Population
Nearly Two-Thirds Trust Mobile Banking/e-Payments
Percent trust in the mobile banking/e-payments subsector, 2016 (28-country
global total)
83
80
80
80
79
71
70
70
69
67
67
67
63
64
63
63
62
61
58
60
59
58
56
50%
53
52
49
49
47
46
France
Spain
Japan
U.K.
Germany
Ireland
Canada
Australia
S. Korea
Italy
U.S.
Poland
Russia
S. Africa
Hong Kong
Turkey
Singapore
Netherlands
Argentina
UAE
Sweden
Colombia
Brazil
Indonesia
India
Malaysia
Mexico
China
GDP 5
Global 28
39
55
General
Population
Regional Trust Levels Vary
Global
North America
Trust in various industry sub-sectors
Latin America
European Union
APAC
63%
72%
71%
68%
68%
65% 66%
64%
57%
59%
58%
61% 65%
62%
55%
51%
49%
63%
57%
52%
59%
55%
41%
39%
36%
Banks
Credit Cards/
Payments
Financial Advisory/
Asset Management
Insurance
nine means that you “trust them a great deal.” General Population, 28-country global total and regions, question asked of one-fifth the sample.
Mobile banking/
e-payments
56
General
Population
Financial Services CEO Trust Varies by Region
Respondents who trust CEOs in each industry
Global
North America
Latin America
European Union
76%
APAC
67%
66%
64%
61% 57%
58%
49%
54% 52%
46%
61%
57%
51%
58%
50%
46% 48%
48% 47%
46%
56%
37%
37%
32%
Technology
Food & Beverage
Health
Financial Services
Source: 2016 Edelman Trust Barometer Q450. Please indicate how much you trust CEOs in the [INSERT INDUSTRY] industry to do what is right. Please use the
9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General Population, 28country global total and regions.
Energy
57
Majority of Financial Services Workers
Trust Their Employer
General
Population
Percent who trust the company for which they work, financial services sector
80
78
76
Global
GDP 5
European Union
88
92
North America
Latin America
80
APAC
Source: 2016 Edelman Trust Barometer Q525-526. Thinking about your own company and other companies in your industry, please indicate how much you trust
each to do what is right using a nine-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box,
Trust) General Population, 28-country global total, question was asked of half the sample.
58
General
Population
Financial Services: Least-Trusted Sector
is Most-Trusted Employer
73
71
66
65
57
60
64
63
62
3
6
10
10
13
13
9
17
9
15
13
15
3
16
28
Energy
Retail
Telecommunications
Entertainment
Fashion
Technology
Professional
Services
Financial
Services
52
Education
61
Consumer
Packaged Goods
61
80
79
Automotive
63
78 75
77
Food and
Beverage
61
77
75
Health Care
64
74
75
74
Transportation
70
74
Manufacturing
70 67
74
General
Sector Trust
Trust in Own
Company
Percent trust in own company within each industry by employees, and
trust in that industry sector among the general population
Source: 2016 Edelman Trust Barometer Q420. Which of the following industries best describes the company you work for…? Q525-526. Thinking about your own company and other
companies in your industry, please indicate how much you trust each to do what is right using a 9-point scale where one means that you “do not trust them at all” and nine means that you “trust
them a great deal”. (Top 4 Box, Trust) Q206 Which of the following best describes your current employment status? (Net: “Employed full-time” and “Employed part-time”) General Population
among those employed (Q206), 28-country global total. Q525-526 asked of half the sample. Q45-429. Please indicate how much you trust businesses in each of the following industries to do
what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) General
59
General
Population
Data, Quality and Safety Are Critical for Financial Services
Importance vs. performance of behavior in building trust in a company
%
%
Importance Performance Gap
Protects consumer data
Ensures quality control
Keeps me and my family safe
86
85
81
65
62
58
21
23
23
Is transparent in reporting progress on company’s social responsibilities
80
56
24
Makes my life easier
Embraces sustainable business practices
Has leadership that effectively represents the interests of all stakeholders
Supports local charities and good causes
Develops intellectual property
Makes me feel connected to something bigger
80
80
79
75
74
70
64
59
57
55
56
53
16
21
22
20
18
17
#1 gap?
social responsibility
60
Financial Services Falling Short
General
Population
Financial services
tied for largest gap
Gap in importance of behaviors in building trust vs. percent who
agree each industry is performing well against these behaviors
Protects consumer data
Ensures quality control
Keeps me and my family safe
19
11
15
Health
Care
18
19
15
Is transparent in reporting progress on company’s social responsibilities
18
1
14
24
15
22
23
11
18
24
16
21
26
12
22
14
15
1
4
11
22
19
13
17
18
20
17
14
17
18
22
20
18
17
21
25
22
17
19
21
Technology
Makes my life easier
Embraces sustainable business practices
Has leadership that effectively represents the interests of all
stakeholders
Supports local charities and good causes
Develops intellectual property
Makes me feel connected to something bigger
AVERAGE GAP
Food &
Beverage
23
16
21
Financial
Services
21
23
23
Source: 2016 Edelman Trust Barometer Q335-440. How important is each of the following factors to building your TRUST in a company? Use a 9-point scale where
one means that action is “not at all important to building your trust” and nine means it is “extremely important to building your trust” in a company. (Top 4 Box, Trust)
General Population, 28-country global total. Q344-348. How well do you think the [INSERT SECTOR BEING RATED] industry is performing on the behaviors listed
below. Use a 9-point scale where one means they are “performing extremely poorly” and nine means they are “performing extremely well”. General Population, 28country global total.
Energy
24
23
20
61
Kontakt Edelman.ergo
Tobias Mündemann
Senior Partner
Tel.: +49 (0)221/ 912 887 13
E-Mail: [email protected]
Edelman.ergo
62

Financial Services

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