Trust is a valuable commodity that drives a company’s success, but trust is in shorter supply than many company leaders realize.
Fifty-four percent of employees participating in PwC’s 2023 Trust Survey reported experiencing a “trust-damaging event” with an employer, while just 20% of business leaders were aware of an event at their company that eroded the trust of key stakeholders.
The PwC survey polled 2,012 employees, 2,508 consumers and 500 business executives across the U.S.
Among employees who lost trust in a company, 53% said they have left a job after such an experience. On the consumer side, 50% reported a trust-damaging event with a company — like the employee rate. Among those consumers, a triggering event led 63% to stop buying a company's products or services.
Despite the survey’s findings, there is a silver lining. This disconnect with both employees and consumers may present a valuable opportunity for leaders to link with employees and foster further trust between all parties. Read more.