DAVOS, Switzerland (AP) – With trust in governments taking a hit since the global financial crisis, people around the world view their employer as the most trusted institution in their lives, according to a survey published yesterday.
In a survey of trust in institutions that public relations firm Edelman releases each year on the eve of the World Economic Forum in the Swiss ski resort of Davos, the firm found that 75 per cent of respondents trusted their employer.
That’s a hefty 19 percentage points more than the equivalent trust in business as a whole and 27 points more than governments.
“The past two decades have seen a progressive destruction of trust in societal institutions, a consequence of the Great Recession, fears about immigration and economic dislocation caused by globalisation and automation,” said Richard Edelman, the firm’s President and CEO.
“People have low confidence that societal institutions will help them navigate a turbulent world, so they are turning to a critical relationship: their employer.”
Waning trust in public institutions in recent years has accompanied a rise in populist and nationalist politics, from the election of United States (US) President Donald Trump to Britain’s vote to leave the European Union (EU).
And over the past year, the #MeToo movement has spread from Hollywood into the political and corporate worlds, while the yellow vest movement in France — initially a protest over a fuel tax — has shaken the country and caused President Emmanuel Macron to backtrack on some reforms.