Trust is not easy to quantify. It can be built, won, lost or betrayed. Its dictionary definitions encompass belief, reliability, responsibility and expectation. For many businesses and their leaders, it is crucial to success. But without a way to understand and track trust levels, organisations could waste time, money and effort trying to become more trustworthy – and failing.
Why trust matters in business
One of the few organisations that has established a system for measuring trust is the consultancy Edelman. Its annual Trust Barometer surveys thousands of respondents from around the world to gauge how much people trust institutions.