Businesses are often thought to be highly (if not the most) trusted, but GlobeScan’s research tells a different story, with significant implications for how companies should respond to societal expectations.
Since 2001, GlobeScan has measured “thick trust” in institutions through our annual global Radar survey conducted in more than 30 countries, with an average sample size of 1,000 per country. We ask respondents how much they trust institutions such as global companies, governments, and NGOs “to operate in the best interest of our society.” Our approach intentionally goes beyond measuring transactional trust, aiming to capture a deeper relationship between society and institutions.
Contrary to the belief that businesses are the most trusted, our research shows that global and national companies rank relatively low compared to institutions like scientific bodies, NGOs, the UN, and charitable foundations. While net trust in global companies is generally positive, meaning more people express some degree of trust than less or no trust at all, levels of trust in businesses are still significantly lower than for other institutions.
WHAT DOES THIS MEAN?
The consistently low level of trust in businesses is a complex and multifaceted issue rooted in economic, social, and environmental factors. Filling the trust gap requires significant changes in corporate behavior, including greater transparency and accountability. It also requires companies to humbly and genuinely collaborate with other trusted institutions, such as scientists and civil society, to gain the social license to lead in addressing our greatest societal challenges.
Based on a largely representative online survey of over 30,000 people across 31 countries and territories, Radar draws upon GlobeScan’s unique database of over two decades of polling public opinion about people’s outlook toward societal actors and the issues affecting them.
Countries include Argentina, Australia, Brazil, Canada, China, Colombia, Egypt, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Kenya, Mexico, Netherlands, Nigeria, Peru, Portugal, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Thailand, Türkiye, UK, USA, and Vietnam.
Survey Question: Please indicate how much you trust each of the following institutions to operate in the best interest of our society. Would you say you have a lot of trust, some trust, not much trust, or no trust at all in…?
Source: GlobeScan Radar Trends Report (survey of 30,216 people in the general public in July ‒ August 2024)
