Change Management

Edelman Trust Barometer 2020: CEOs can seize the day

IMG_5193When the World Economic Forum kicks off in Davos, the first thing I look out for is the Edelman Trust Barometer. Now in its 20th year, the PR agency Edelman has been measuring public trust in people and institutions.

And this year, this stuck out particularly for me:

  • Business is seen as the most competent of institutions, inching ahead even of NGOs. And it is seen as competent, even if seen as too self-centered by most respondents.

Time for CEOs to step up!

The survey shows that people have a high expectation that their company’s CEO takes the lead in speaking out on important issues – from climate change, diversity or jobs of the future. A whopping seventy-five percent (75%) believe CEOs should lead the way to change, almost that it is imperative for them to speak out and not wait for politics and government to step in.

Larry Fink only last week spoke out on jobs lost to automation and the need for ESG-only investments. Microsoft taking more carbon out of its operations. Steps in the right direction. But the level of consciousness needs to be raised! Just think to Siemens who recently have been criticized around their decision to invest in coal mining in Australia despite the recent environmental (fire) crisis.

More needs to be done and being a change enabler should move to the top of any CEO’s agenda in 2020.

Technology is a worry

83% of respondents said they were concerned also about losing their jobs for various reasons like a weak economy, lack of job security, automation, or a lack of skills. Meanwhile, 62% feel work technology is “out of control,” and technological change is happening too quickly. Yikes.

Therefore CEOs will need to make real investment efforts in the coming years in people, not just technology. Why? Because we need a perfect balance of the two!

Mastering challenges collectively

But also engaging stakeholders across the board will be a key opportunities for businesses and CEOs alike. 87% say that customers, employees and communities are more important to a company’s long-term success than shareholders alone.

Maybe we have already seeing a shift when looking at the announcement by The Business Roundtable Group of CEOs who said that we should start to move away from a sole focus on shareholders to a more balances purpose centred on all stakeholders.

My encouraging question to all CEOs out there: How will you use your opportunity to own the narrative and to drive change to build trust in the coming years?

Diversity is key

Diversity is key for a company’s success. But it requires true leadership commitment beyond superficial words or platitudes. Leaders need to build a case for change and address the deep-rooted cultural and organizational issues that those groups face in their day-to-day work experience if they want to achieve corporate diversity and inclusion.

Here is an interesting read from BCG on how to fix the flawed approach to diversity.

Making sure teams can work together

Working with many companies over the last couple of years, one of the biggest challenges often is to get  teams to work across the organizational boundaries. Often the main part of the problem is that we expect collaboration to occur in networks of relationships that do not mirror that of the formal reporting structures. Collaboration needs to be managed by leadership with a focus on setting up informal networks.  This article from Harvard Business Review provides some good, pragmatic approaches.

How to empower employees

When your employees can use their natural talents in their job, they can  bring a positive presence to their work and can make a positive impact on the organization.  So what are some questions you as a manager can ask to gage what these talents are to then help best shape their roles and responsibilities? Here are some valuable ones from Gallup

  1. What do you know you can do well but haven’t done yet?
  2. What sorts of activities do you finish and think, “I can’t wait to do that again”? Or what are you doing — inside or outside work — when you’re truly enjoying yourself?
  3. What have you done well that you didn’t need someone to explain how to do?
  4. What have other people told you you’re great at doing?
  5. What activities are you doing when you are unaware of time passing?

 

 

There are many reasons not to change

I came across this nice picture the other day, showing us the many reasons against change. But my questions back would be “what is the risk of not changing?”.
Take some time today to reflect on what is stopping your company from making the needed changes.

Change

Edelman Trust Barometer 2018

Screen-Shot-2018-01-22-at-22.28.58-768x373The World Economic Forum is Davos is always exciting. While economic and political elites are discussing what should be on the business and government agenda for 2018, the global communications community looks towards the results of the annual Edelman Trust Barometer.

Now in its 18th year, the barometer, which surveyed more than 33,000 adults across 28 countries, showed a big drop in trust. As a professional communicator my main takeaway is the increased trust in CEOs (first year in a long time!) and the decreased trust in “a person like you”. The latter is pretty big news, seeing as peer-to-peer communications had been the most trusted form of communication in recent years. Maybe we have realized we are living too much in echo chambers.

Social media companies have also lost trust, with 70% of respondents agreeing that they do not do enough to prevent unethical behaviors. With more than 30% of those surveyed believing that social media is not good for society it will be interesting where this opinion takes us and if the big tech companies will start to do some rethinking about their responsibilities to society.

It seems business is now expected to be an agent of change. Nearly two-thirds say that they would like CEOs to take the lead on policy change instead of waiting for government. As Edelman says: “There are new expectations of corporate leaders. Nearly 7 in 10 respondents say that building trust is the No. 1 job for CEOs, ahead of high-quality products and services.”

What’s the reality in your company? Have you noticed a decline in peer-to-peer communication? How can we tackle disinformation within companies? And what can communicators do to empower CEOs to become agents of change in today’s society?

 

You can read the full report here.

Who makes a better boss – men or women?

Gender doesn’t matter, talent does.  And when you know that between 2014 and 2016, only 15% of workers in Germany were engaged at work then it is more than urgent to take a look at the management culture and to not just hire for experience or skills but for the talent to truly work with and inspire people.

Read more in Gallup’s latest blog post.