Trust Challenges & Predictions 2023

The business case for trust is indisputable. As the chart below shows, for the past eleven years our Trust 200 Index, a diversified mix of the most trustworthy public companies has handsomely rewarded those who chose trust as a strategic imperative. This includes business leaders and their stakeholders, and also investors. Yet we seem to be stuck in a trust free fall across most societal institutions. Why is that?

It’s certainly not due to lack of interest in the subject of trust nor a shortage of those attempting to monetize trust. In fact, 2022 may have been a banner year for new trust initiatives. Many of the large advisory firms have boarded the trust train, yet their initiatives continue to skirt the two key challenges of trust building. What are they?

The Leadership Challenge

Trust is not a soft skill: Most leaders remain risk focused never considering trust until a crisis. Do you know why?

1. They have never thought about the role trust plays in organizational success.
2. They have been taught to always defer to legal and compliance, who have no trust or other mistakenly termed “soft skill” expertise.
3. They would rather not think about the long term reputation costs associated with a crisis until they are faced with one.