The Challenge
The 2019 Global Edelman Trust Barometer has recently reinforced how the UK public have little confidence in financial and professional services. The survey reported people are turning to their employer to navigate a turbulent world rather than societal institutions.
Edelman Trust Barometer 2019 UK results
More than 3 in 4 UK citizens believe CEOs should take the lead on change rather than waiting for the government to impose it – up 19% from 2018.
60% of respondents reported ‘a good reputation may get me to try a product, but unless I come to trust the company behind the product, I will soon stop buying it‘.
65% said treating employees fairly was the greatest obligation for business leaders, which is above treating customers well (47%).
Never has trust been more important, between the employer and employee, and between business and society. This trust deficit was recognised in 2017/8 by the City Corporation and the Lord Mayor. A major programme of work was initiated, the Business of Trust, to identify how the City can better meet the public’s changing expectations of business and create a lasting legacy of better business trusted by society.
The Project
Intelligent Ethics worked as a trusted advisor to the Lord Mayor and the City Corporation to:
- lead the design, creation and expert facilitation of the Leaders of Tomorrow programme to 60+ future City leaders, as part of the wider Business of Trust initiative, focusing on topics such as leading in turbulent times, the role of culture and behaviours in building trust, the ethics and impact of leadership in business, and the role of responsible business in a digitally disrupted world
- deliver a series of leadership development interventions over the year which consisted of a blend of events, including facilitated panels from senior business leaders and other experts, executive interviews, real case studies, behavioural exercises, stimulating presentations and opportunity for self-reflection and learning.
The programme was designed to inspire the next generation of financial and professional services leaders to develop the ambition and capability to lead tomorrow’s City, using the power of collaboration and peer to peer relationships.
The Outcomes
- A digital platform to enhance business’ ability to create and maintain trust, Navigating the Trust Journey, addressing why prioritising trust worthiness matters and how to mitigate the trust deficit
- An active pursuance of objectives centred on trust in business as a force for good
- An empowered network of future business leaders who are inspired to act as catalysts for change.