UK Highlights
General outlook
- 49% think the UK is heading in the wrong direction
Trust in Business
- Trust in business is on the way back, but it's country-specific – led by the US and France. Not so in the UK, where it is flat at 44%
- Trust in business dropped 14pts among 25-34 year olds since January 2008 – down from 56% to 42%
- Only 11% believe that global business has a good reputation
Trust in sectors
- Trust in Technology, Healthcare and Retail saw a bounce in the past six months
- Technology is up 18pts from 63% to 81%
- Healthcare is up 12pts from 59% to 71%
- Retail is up 11pts from 47% to 58%
- Pharmaceuticals is up 10pts from 46% to 56%
- Trust in banks, automotive and insurance is recovering in the US – but not yet in the UK, France and Germany
Economic recovery
- 44% think economic recovery won't happen until 2011 or later. China and India expect recovery by the end of 2010
- 50% think it will take until 2011 or later for business to be trusted again
- 77% think the stock market will recover before trust in business does
- 44% trust business and government to work together productively to get us out of the economic crisis
- 46% think stimulating economic recovery is more important than regulation (21%)
- 58% trust that the free market will correct itself eventually
- The US, UK & Germany believe the free market will correct itself before government or business leads us out of the global economic crisis
Addressing global issues
- 78% think government has not done enough to reduce energy costs – vs 77% for business
- 74% think government has not done enough to minimise global warming – vs 83% for business
- 89% think government has not done enough to ensure the efficiency of government operations. This is the highest score of all six countries surveyed.
- 52% think government has not done enough to provide tax cuts to encourage consumer spending
- 86% think business should create solutions to reduce energy costs
- 78% think business should create solutions to minimise global warming
Brand Trust
- 54% have switched to a new brand in the past six months because of something positive they heard or read
- 35% switched to a new brand in the past six months because of something negative they heard or read
- 63% have switched to a different brand because of cost, but not lack of trust, in the past six months
Actions to rebuild trust
- Transparent and honest business practices (98%) ranks top for rebuilding trust, followed by treating employees well (97%), quality (94%) and frequent and honest communications (93%)
- 89% would trust a company more if it invested in R&D to drive innovation
- Over half (59%) believe that CEOs appearances in media on strategy and performance help to rebuild public trust
Stakeholders
- Employees and customers (95%) rank as the CEO's most important stakeholders when making decisions, followed by local community (84%) and society at large (83%) – ahead of shareholders (78%) and government (55%)