Trust Across America-Trust Around the World™

Are financial institutions inherently untrustworthy or is this a simple misconception? 

To answer this question we first must consider how “finance” and “trust” are being defined. Without universally accepted definitions, all financial institutions are painted with one broad brushstroke and consumers among other stakeholders, are left in an ever escalating state of mistrust and confusion. And when the “news” and the latest “study” report that trust in finance is up (or down) this only fuels the fire.

Trust? What are we trusting financial institutions to do, or not do? Safeguard our money, be transparent with fees, earn a good return for shareholders, protect our personal data, treat employees well, provide good customer service, or all of the aforementioned?

Finance? Can global investment banks, regional banks, brokerage firms, insurance companies, financial planners, REITS, and/or a local savings and loans be lumped together when discussing trust in finance? Should they be?

For nine years Trust Across America has been researching and reporting on the trustworthiness of America’s largest 2000 public companies via our proprietary FACTS® Framework. We perform this analysis through a quantitative and objective lens (with no input from the companies themselves)

This is, by order of magnitude, the largest ongoing study ever conducted on trustworthiness at the individual corporate level. Our 2018 data (Russell 1000 only displayed below) concluded that the finance sector remains the lowest in trust, with an average score of 57 on a 1-100 scale. (Down from 58 in 2017). This dataset was finalized in April 2018. It is updated every April.

Copyright 2019 Next Decade, Inc.

But what do these numbers really mean?

Our data also tells a more detailed story, and one that places us in a unique position to discuss trust AND the financial industry. Industry is NOT destiny and those more trustworthy financial institutions suffer at the hands of their less trustworthy colleagues. Take a look at this. Suddenly certain financial industry players look quite a bit better, while some look worse.

Copyright 2019 Next Decade, Inc.

And dissecting the data even further reveals the following:

                                                 Name            Symbol    Sector                        Industry                 FACTS Score

Copyright 2019 Next Decade, Inc.

Some of the major regional banks have high trust scores, while others do not. Again, industry is not destiny.

Trust in financial institutions isn’t necessarily “up” or “down.” That’s simply a news headline. At its core, trust is internal. It is a function of how much leadership cares about its corporate culture, and chooses to embrace the value of trust in meeting the needs of every stakeholder group. For those leaders who are interested in learning more about how to elevate trust internally, please Tap into Trust and take our sample one minute (customizable for any organization or team) quiz.

For all others, keep debating whether trust is “up or down.”

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She also runs the world’s largest global Trust Alliance and is the editor of the award winning TRUST INC. book series. She holds a BA in International Affairs and an MBA. 

Purchase our books at this link

For more information on Trust & Integrity in Corporate America purchase our 2018 report. To be among the first to review our research and more fully engage in elevating organizational trust, please consider membership in our vetted Trust Alliance.

Copyright 2019, Next Decade, Inc.

In the words of Abraham Lincoln…. You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.

The same applies to trust. These commonly taken shortcuts to trust may fool some of your stakeholders, but won’t fool them all, and over time they may come back to haunt you.

• Narrowly defining trust in a way that suits the trustee. Brand loyalty, check the box sustainability, philanthropy, “feel good” CSR, blockchain solutions and data security are not trust. Neither are reputation, loyalty or transparency.
• Delegating trust to a motivational speaker instead of a subject matter expert.
• Paying for a “great workplace” award.
• Beefing up the legal and compliance staff.
• Making trust a PR campaign based on “talk” rather than action.

Do we really need more proof that shortcuts to elevating workplace trust do not work?

Take a look at the following data:

Trust within an organization is essential to its success. But “Global Generations 3.0” research, released by Ernst & Young, showed trust isn’t a given. The survey of nearly 10,000 workers ages 19 to 68 in eight countries revealed that just 46% of employees placed “a great deal of trust” in their employer, and only 49% placed “a great deal of trust” in their manager or colleagues. June 2016

According to a new global study by BBMG and GlobeScan, “Brand Purpose in Divided Times,” net trust in global companies to act in the best interest of society is negative (-2). And for the first time since 2009, more consumers say they have punished companies for their behavior (28%) rather than rewarded them (26%), and the number of those who are punishing brands is up by 9 percentage points since 2013.

According to 2018 polling by the Public Affairs Council, only 7 percent of Americans believe that major company CEOs have high ethical standards, and only 9 percent have a very favorable opinion of major companies. Only 42 percent of Americans trust major companies to behave ethically, down from 47 percent last year.

Gallup’s 2017 reports: A highly engaged workforce means the difference between a company that outperforms its competitors and one that fails to grow. And according to their recent State of the Global Workplace report, 85% of employees are not engaged or actively disengaged at work. The economic consequences of this global “norm” are approximately $7 trillion in lost productivity. Eighteen percent are actively disengaged (up from 2015) in their work and workplace, while 67% are “not engaged.

Building a “principled culture” of high trust and ethics is not difficult. It simply requires leadership buy-in, and a bit of vulnerability. High priced quick fixes might fool some of the people in the short-term, but in the long-term sustainable businesses are built on trust from the inside out, not the outside in.

In our recently launched one minute (free and totally anonymous) diagnostic survey called “Building Trust One Principle at a Time,” we ask which of twelve universal trust principles (TAP) are weakest in your organization. At the end, respondents will see how their workplace compares to all others. Bringing this tool “in house” will provide enlightened leaders, teams and organizations with a baseline trust “temperature” from which to build long-term business health. Just tap on the Take our Quiz button or go direct to the Survey.

If trust is the “new currency,” as some have recently claimed, the challenge will be to “get it right” by avoiding the shortcuts and embracing the solutions.

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. Barbara has consulted with many Fortune 500 CEOs and their firms, and also runs the world’s largest global Trust Alliance . She is  the editor of the award-winning TRUST INC. book series and TRUST! Magazine.  Barbara holds a BA in International Affairs and an MBA.

Copyright 2019, Next Decade, Inc.

For the past three weeks Trust Across America-Trust Around the World has been running an anonymous one minute/one question diagnostic survey/quiz to identify the weakest links in trust among teams and in organizations. The survey is based on 12 crowd-sourced universal principles called TAP. The Principles have been accessed over 40,000 times in the past 10 months. When effectively implemented, they will elevate trust in any organization of any size.

As of today, Accountability has been identified as the weakest of the 12 Principles with 40% of respondents flagging this statement as “weak”: We hold one another accountable – we each take responsibility without regard to level or role.

If you are not accountable, why would you expect your team members to trust you?

If you are a member of a team or lead one, accountability is an essential trait. Lack of accountability leads to distrust which, in turn, leads to disengagement. When you find yourself falling back on an excuse, stop and think about the impact it has on your team and consider using an alternative response instead.

This is a list of the most commonly heard trust BUSTING excuses and an alternative trust BUILDING response.

Trust Busting Excuse #1:  It slipped my mind.

Trust Building Response #1: I won’t forget.

Trust Busting Excuse #2: Sorry, I’m going on vacation.

Trust Building Response #2: This will be done before I go on vacation.

Trust Busting Excuse #3: I’ll do it later.

Trust Building Response #3: I will do it right now.

Trust Busting Excuse #4: Keep reminding me.

Trust Building Response #4: You will not need to remind me.

Trust Busting Excuse #5: It’s not on my “to do” list.

Trust Building Response #5: I’m putting it on the top of my “to do” list.

Trust Busting Excuse #6: It isn’t a high priority.

Trust Building Response #6: I’m giving it high priority.

Trust Busting Excuse #7: It was just a white lie.

Trust Building Response #7: I admit to being dishonest.

Trust Busting Excuse #8: I’m very busy. Check back later.

Trust Building Response #8: I’m very busy right now but let’s talk in one hour.

Trust Busting Excuse #9: I thought I did it.

Trust Building Response #9: I will take care of it right now.

Trust Busting Excuse #10: I ran out of time.

Trust Building Response #10: It’s more time consuming than I thought, and I will get it done.

Take our anonymous Building Trust One Principle at a Time survey here by clicking on the Quiz button. Upon completion of this one minute/one question quiz you will see how your organization compares to others. This diagnostic survey is also being administered with individual organizations and teams. If you would like to use it, send a note to: barbara@trustacrossamerica.com (This survey can be administered in 16 languages.)

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. Barbara has consulted with many Fortune 500 CEOs and their firms, and also runs the world’s largest global Trust Alliance . She is  the editor of the award-winning TRUST INC. book series and TRUST! Magazine.  Barbara holds a BA in International Affairs and an MBA.

Don’t forget to TAP into Trust!

Copyright(c) 2019, Next Decade, Inc.

When trust is low, fear is high, and fear is very costly.

Numerous studies have shown that:

• High-trust organizations consistently outperform their rivals
• Trust is the foundation of high performing teams
• Trust reduces employee turnover and increases engagement
• Trust increases productivity and innovation
• High trust leads to long-term business success, beyond just short-term “home runs.”

What is your organization doing to cut the losses of low trust?

The “fix” is relatively easy and inexpensive. And it begins by acknowledging that low trust is costing you money. Like a disease, if low trust is ignored, it continues to spread.

Our newest Trust Tool is based on our Trust Alliance Principles (TAP), the result of the collaborative efforts of dozens of the world’s leading trust scholars and practitioners. Since April, these principles have been accessed over 40,000 times in 16 languages. This tool will provide any team (including the Board of Directors,) or organization of any size in any industry, with a simple roadmap to track and elevate trust.

Want to learn more? Contact barbara@trustacrossamerica.com

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and many Fortune 500 CEOs and their firms, Barbara also runs the world’s largest global Trust Alliance, and is the editor of the award-winning TRUST INC. book series and TRUST! Magazine.  Barbara holds a BA in International Affairs and an MBA. Don’t forget to TAP into Trust!

Copyright(c) 2019, Next Decade, Inc.

The trust “talk” is increasing in frequency and volume, and that’s a good thing. Or is it?

At least leaders are thinking about it. Yet when it comes to defining trust, those same people are either getting stuck (at best) or using the word “trust” as a placeholder (at worst.) When trust is misdefined or misidentified, it not only gets diluted, but stakeholder cynicism quickly builds.  If you choose to talk it, keep in mind that trust takes many forms, each with it own distinct definition. Make sure you are using the right one!

Trust:  (the noun)

Trust: (the verb)

Trustor: (noun)

Trustee: (noun)

Trustworthy: (adjective)

Trusting: (gerund)

Propensity to trust

For those who want (or need) a refresher course, Charlie Green and I wrote this article, complete with definitions (and much more,) almost 3 years ago. And if you want to see how you are doing in the “trust department,” we offer this brand new one-minute quiz. How are you defining trust and how does your organization compare to others?

Copyright 2019, Next Decade, Inc.

Building Trust One Principle at a Time

This past week the World Economic Forum held its annual meeting at Davos and the global elite were buzzing like bees around the word “trust.” 

Overlapping was another meeting being held in a remote corner of NJ (of all places), perhaps because the “polar vortex” was about to ground the attendees’ private jets. This gathering was called “Sovad so Good” or “Sovad” for short.)

For those unfamiliar with the annual Davos event, it’s by “invitation only,” and even those who secure an invite might not be able to afford the cost of admission. Most badges require a membership to the World Economic Forum, which costs somewhere between $60,000 and $600,000, plus an additional fee of more than $27,000 per person to get into the conference. (CNBC, January 25, 2019)

Worth noting: Of the 3000 attendees almost 800 were Americans and 22% were women, up from 21% last year! Less than 5% of S&P 500 CEOs are women—that’s just 24 companies. We can’t know how many of those 24 were invited to the event in Davos, but the official attendance list includes four of their names: Heather Bresch, CEO of Mylan N.V.; Adena Friedman, CEO of  Nasdaq Inc.;  Vicki Hollub, CEO of Occidental Petroleum Corp.; and Ginni Rometty, CEO of IBM. Quartz, January 21, 2019

Sovad (the other Davos) didn’t include the high price tag (or any admission fee for that matter), nor the “A” list of celebrities like Matt Damon or Will.i.am, and side deals were not being done off stage, probably because there was no stage. (Over 50% of the SOVAD group is women.) No large “trust signs” were erected at the entrance to our gathering like the one leading up to Davos. It was just too darn cold for anyone to want to climb a ladder, especially those in skirts.

CNN reported, ‘Trust is the new buzzword at Davos,” and as Dana Carvey “The Church Lady” liked to say on SNL, “Well isn’t that special.” (Dana and I lived together at one time but that’s a topic for another post.) So what was all the Davos “buzz” on trust about? These were the trust “themes:”

1. Rebuilding trust (think Facebook.) Sheryl Sandberg was the trust “expert” on this subject.
2. Trust and technology (digital security, AI, blockchain, etc.)
3. Trust and innovation
4. Trust and sustainability
5. Trust and CEOs “taking stands.”

To the attendees at Davos these are certainly important revenue generating discussions to be having. But do they actually get to the heart of trust, or even move the needle slightly to elevate societal trust? That’s a solid “No.”  Here’s why.

It seems only one trust conversation was missing at Davos, and probably the most important one: How do we move our societal institutions from trust buzz to trust action? And that was the ONLY conversation at Sovad.

So while the fine food and drink flowed, and the planes stayed warm on the tarmac in Switzerland, the Sovad attendees arrived by auto and took the following action over a burger and a beer:

With no revenue generating agenda, we created 12 universal principles for elevating trust and began asking those who didn’t travel to Europe, how that “trust thing” is working in their organization. After all, isn’t that where trust starts (and ends)? Apparently, we struck a chord as over 35,000 unassuming folks from around the world have joined the conversation.

Will you take our brand new (one question/one minute) survey? Find out how your organization compares to others.

Note: Some believe that this year’s gathering was a disappointment on many fronts. Perhaps the word “trust” was simply a placeholder until a “real” topic can be identified for 2020. Kenneth Rogoff, the Harvard economist, summed it up: “This is the flattest Davos I can remember. Normally, there is a star country or a star industry that everybody is talking about. But this year, there is nothing.”

Could it be that the “nothing” has “something” to do with trust?

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and many Fortune 500 CEOs and their firms, Barbara also runs the world’s largest global Trust Alliance, and is the editor of the award-winning TRUST INC. book series and TRUST! Magazine. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. Don’t forget to TAP into Trust!

For more information contact barbara@trustacrossamerica.com

Copyright(c) 2019, Next Decade, Inc.

For Immediate Release

January 29, 2019. Trust Across America-Trust Around the World (TAA-TAW), global leaders in organizational trust announces its 2019 Top Thought Leaders in Trust. The awards program, now in its 9th year, celebrates professionals who are transforming the way organizations do business.

To read the full Press Release and access this year’s honorees, click here:

Copyright 2019, Next Decade, Inc.

Celebrating Our 5th anniversary!

Formed in 2013, we are a growing collaborative community focused exclusively on elevating organizational trust by providing enlightened leaders with the “right” tools and resources. Unlike other think tanks, we have advanced our “thinking” to action.

The past twelve months represented a “banner year” for the Alliance as we completed the following projects:

Trust Alliance Project Highlights

• Named our first 12-member Trust Council comprised of Alliance members who have taken an active role with us in building organizational trust programs over the years.
• Published our 10th anniversary TRUST! Magazine spring issue, highlighting good governance practices. It’s a gem and should be read by every Board member everywhere!
• Members contributed to our growing case study library called Trustlets.
• Dozens of hours were spent coordinating and consulting on TAP (Trust Alliance Principles). Phase II has now begun with a new project launching on January 29, 2019.
• Global members helped construct our first annual Country Trust Index.
• The 4th annual Showcase of Service Providers was published.
• Our 10th anniversary report “Trust & Integrity in Corporate America” (available at www.trustacrossamerica.com ) features the work of many Alliance member, and we published this “2 pager” under the Research tab on our website.

What’s Ahead?

In 2019 we began arming our members with a new actionable trust “tool” delivered every month through our member newsletter.

Why Not Join Us?

If you are interested in rolling up your sleeves and participating with a group of collaborative global professionals, we’d love to consider you for membership.

(Some of our members have been kind enough to add their thoughts on this testimonials page.)

Questions or comments? Feel free to send your thoughts along.

Barbara Brooks Kimmel, CEO and Chief Trust Officer

Copyright 2019, Next Decade, Inc.

This is a timely article about what trust is and what it isn’t! 

www.fcpablog.com/blog/2019/1/24/five-stupid-ideas-about-trust-in-business.html