A tumultuous 2016 saw, among other things, the advent of Britain’s exit from the European Union and the election of far-right Republican president, Donald Trump. Continued proliferation of so-called ‘fake news’ threatens the credibility of recognised media outlets; referendums and leadership contests cause turmoil across the global political landscape. It is therefore little surprise that recent findings from the 2017 Edelman Trust Barometer show public trust in the institutions of media and government has dropped, in some cases to an all-time low. Business trust, however, might yet be salvaged.

The Edelman Trust Barometer is published yearly by US-based public relations firm, Edelman. It aims to indicate the general levels of trust, as supplied by the global public, in the institutions taken for granted as contributing to the world order. Unprecedented and impactful changes during 2016 saw this year’s barometer swing in favour of populism, highlighted in real time by virulent distrust in politicians and a dismissal of who the general public view as ‘elites.’

As a result, the 2017 Edelman Trust Barometer shows public trust in media has dropped to 43% and is at an all-time low in 17 countries. Traditionally viewed as the preserve of the elite, continual anti-media/anti-elite rhetoric by influential figures such as Donald Trump has no doubt influenced this outcome. “People now view media as part of the elite,” says Richard Edelman, president and CEO of Edelman.

“The result is a proclivity for self-referential media and reliance on peers. The lack of trust in media has also given rise to the fake news phenomenon and politicians speaking directly to the masses. Media outlets must take a more local and social approach.”

For business too, this more localised and personal approach - distinct from a global media outlook - is recommended. Clearer, more personal communications should help employers avoid a drop in levels of trust experienced by media outlets and ensure their employees are continued to be viewed as trustworthy. Of those surveyed, 75% agreed companies should not just increase profits, but also improve economic and social conditions inside local communities.

For employees, the picture is even brighter. The trust barometer shows they are, on average, trusted 16 points more than CEOs. This includes messaging around employee/customer relations (53%), financial earnings (38%), crises (37%), innovation (33%), industry issues (32%) and programs addressing societal issues (30%).

However, the distinction between media/governmental outlets and business is not clear cut; each is intrinsically entwined. Respondent qualms centre on unemployment and lack of job security, often put down to issues widely regarded as caused, or made worse, by ‘elite’ organisations such as government. This includes worries about globalisation (60%), immigrants willing to work for less (58%), outsourcing of jobs (55%) and automation (54%).

“Business is the last retaining wall for trust,” says Kathryn Beiser, global chair of Edelman’s corporate practice. "Its leaders must step up on the issues that matter for society. It has done a masterful job of illustrating the benefits of innovation but has done little to discuss the impact those advances will have on people’s jobs. Business must also focus on paying employees fairly, while providing better benefits and job training.”