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Australia: Credibility of CEOs and trust in business andgovernment strengthens despite a year of corporate andpolitical tu...
Ensuring ethical behaviour is a clear           Figure 16: Transparency and honesty key reputation   necessity for Austral...
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Edelman Trust Barometer 2011 Australian Executive Summary


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The Australian Executive Summary for the 2011 Edelman Trust Barometer.

Published in: Business, Health & Medicine
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Edelman Trust Barometer 2011 Australian Executive Summary

  1. 1. Australia: Credibility of CEOs and trust in business andgovernment strengthens despite a year of corporate andpolitical turmoil.Australian’s trust in government and Figure 14: In a reversal of last year’s sharp declines,business has reached heights similar to Australian’s trust in institutions has stabilisedthe days before the Global Financial Crisis. How much do you trust [Institution] to do what is right?While government underwent fierce 70criticism and reform last year, more thanhalf (52%) of Australia’s opinion influencers 65trust government to do what is right. This 60represents an increase of eleven 56 55 54percentage points, bringing trust in 51 52 50government back to 2009 benchmark 47levels. 43 40 41The credibility of CEOs jumped 35 32considerably in 2011. CEOs now rank 30amongst the most credible spokespeople 30in Australia, a striking rise from two years 20ago when they were at the bottom of the 2009 2010 2011rankings. Half (49%) of opinion influencers Business Government NGOs Medianow say CEOs are credible spokespeople,a 30 percentage point increase over 2009. Informed Publics (25-64) in AustraliaThe return trust in CEOs coincides with thecontinuing health of the Australianeconomy and general mood of business Figure 15: In Australia there is a search for authority andconfidence. expertise How important are these factors to reputation?CEOs are now seen as trustworthyspokespeople. However, engaging An academic or expert 69%credible experts from either within the Technical expert within the company 67%company, or from third parties such as A financial or industry analyst 50%academics, analysts, NGOs or governmentofficials, strengthens trust. CEO 49% Government official 48%However, despite a steadily growing trust NGO representative 44%in business (43% in 2009; 47% in 2010; Regular employee 34%54% in 2011), 73 percent of Australianopinion influencers support government Person like yourself 31%regulation of corporate activity to ensure Informed Publics (25-64) in Australiabusiness is behaving ethically andresponsibly.2011 EDELMAN TRUST BAROMETER
  2. 2. Ensuring ethical behaviour is a clear Figure 16: Transparency and honesty key reputation necessity for Australian companies as attributes transparency and honesty topped the list of reputation attributes. Price also matters: How important are these factors to corporate reputation? Australians are looking for companies to 64% price brands fairly and competitively, an Transparent and honest business practices important attribute for trust and reputation, 63% High quality products or services up 17 percentage points since 2010. 60% Company I can trust Australians are using search engines first 57% Treats employees well when sourcing information about an 55% organisation, followed by online news Prices fairly outlets. Company websites are now also 51% Communicates frequently seen as an important information source, 46% ranking third. Although Australians are Good corporate citizen going online first for information, they view 33% Widely admired leadership traditional media sources such as business 31% magazines (27%), newspapers (23%) and Financial returns radio (23%), as the most trusted sources 30% Innovator of information about a company. Australians say they need to be exposed Informed Publics (25-64) in Australia to something about a specific company three to five times in order to believe that Figure 17: Online search is the ‘go to’ source, but traditional the information is true. media most trusted Where do you generally go first for news about a company? Trust in most industries is up globally, including in Australia. Technology remains in top spot for the third straight year. Online search engine 35% Australians distrust financial services, Online news sources 22% banks and media. Company website 16% Telecommunications, which ranks as the Print 11% third most trusted industry globally (68%), (newspapers/magazines) is not as well regarded in Australia, landing Friends and family 7% at number 12 of 16 industries on the ranking, at 38%. Broadcast (radio/TV) 5% Social media 4% Informed Publics (25-64) in Australia2011 EDELMAN TRUST BAROMETER