By: Carolyn Mayo, General Manager, Houston
Each year, Edelman produces a Trust Barometer based on a trust and credibility survey conducted of the general population and informed publics. Over the past several weeks, I’ve had the opportunity to facilitate discussions based on Trust Barometer results with leaders in the chemical and energy space as they begin to formulate communication plans for the coming year. Edelman has heard from stakeholders that now, more than ever, energy and chemical leaders need to build—and in some cases, rebuild—trust. Easy to say; but it can be difficult to do. Let’s look at what the data tells us.
Trust in Institutions
Trust in institutions like NGOs, government, business and media is increasing in the United States, but intensity is weak. Energy and chemical companies face unique challenges with respect to communicating and engaging with stakeholders and the general public—one of which being that they often must work with government officials who are even less trusted than they are to get things done. It’s hard to have good policy, constructive advocacy and proactive communications when those charged with moving the needle are starting out with a Trust deficit.
Trust in Industries
The energy industry ranks low among other industries, but it increased slightly this year from 56 percent to 59 percent. This first year’s ranking of the chemicals energy places it even lower at 51 percent, just slightly above banking and financial services. The technology industry is still the darling—it has consistently ranked as the most trusted industry over more than a decade of Trust research, and that’s across every market globally as well.
Building Trust – What Matters for Energy and Chemicals
We are in the midst of a transformation and are operating in a profoundly different world: one of stakeholders rather than just shareholders. Communication channels and authority have gone from the few to the many. Leaders can no longer just dictate, but must now co-create. We’ve moved from fixed, standard tools to flexible ones. It’s no longer a monologue, but a dialogue. It’s a shift from control to empowerment.
It’s a brave new world for the energy and chemical industries – a time of innovation and growth. And it’s prompting a change in how we craft communication platforms and counsel leadership. While these are industries where authority figures like CEOs and government officials would like to continue to funnel their authority downward to the general population, there are new communities of social activists who pushing upwards to counter and engage in the conversation, showcasing peer-to-peer influence with groups like employees and action consumers.
Trust in Institutions
Trust in institutions like NGOs, government, business and media is increasing in the United States, but intensity is weak. Energy and chemical companies face unique challenges with respect to communicating and engaging with stakeholders and the general public—one of which being that they often must work with government officials who are even less trusted than they are to get things done. It’s hard to have good policy, constructive advocacy and proactive communications when those charged with moving the needle are starting out with a Trust deficit.
Trust in Industries
The energy industry ranks low among other industries, but it increased slightly this year from 56 percent to 59 percent. This first year’s ranking of the chemicals energy places it even lower at 51 percent, just slightly above banking and financial services. The technology industry is still the darling—it has consistently ranked as the most trusted industry over more than a decade of Trust research, and that’s across every market globally as well.
Building Trust – What Matters for Energy and Chemicals
We are in the midst of a transformation and are operating in a profoundly different world: one of stakeholders rather than just shareholders. Communication channels and authority have gone from the few to the many. Leaders can no longer just dictate, but must now co-create. We’ve moved from fixed, standard tools to flexible ones. It’s no longer a monologue, but a dialogue. It’s a shift from control to empowerment.
It’s a brave new world for the energy and chemical industries – a time of innovation and growth. And it’s prompting a change in how we craft communication platforms and counsel leadership. While these are industries where authority figures like CEOs and government officials would like to continue to funnel their authority downward to the general population, there are new communities of social activists who pushing upwards to counter and engage in the conversation, showcasing peer-to-peer influence with groups like employees and action consumers.
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