Surveying across 27 global markets, Edelman trust barometer has observed a 55 per cent increase in Hong Kong general public’s trust towards NGOs, the government, media, and business, the largest rise globally.
The level of increase in the general population’s trust was consistent across the four institutions:
1. NGOs: 65%, 10-point increase
2. Government: 55%, 9-point increase
3. Media: 54%, 11-point increase
4. Business: 45%, 9-point increase
Fewer people in the mass population believe the system is failing them compared to the global average, 23% versus 46%. There is also a sharp decline in people’s desire for change, lack of confidence and lack of hope since 2017.
Nevertheless, Hong Kong is one of six markets across the 27 surveyed where business is less trusted than government.
“The big increase in trust in business is to be welcomed by the Hong Kong business community,” said Dr. Aron Harilela, JP, chairman of the Hong Kong general chamber of commerce.
“Businesses have a vital role to play serving public needs, whether it be providing healthcare, increasing access to education, or using technology to fight climate change. The Trust findings show clearly that people want business to improve conditions in the community. Business should engage the community if it is going to continue to be a key driver of Hong Kong’s success.”
Regarding people’s attitudes to their employers, when employees were asked if they trust their employer, the response was emphatic (74%, 29 points above trust in business).
People expect to see active community purpose from the private sector. 73% of people in Hong Kong say that CEOs should take the lead on change instead of waiting for government to impose it. Nearly two-thirds (62%) believe that a company can take specific actions that both increase profits and improve the economic and social conditions in the communities where it operates.
Employees also expect greater social purpose from employers, with 60% agreeing that it is critical for their CEO to respond on societal issues during challenging times and the same number saying purpose is a strong expectation or deal-breaker when choosing an employer in job decisions.