PwC’s 2024 Trust Survey reveals a growing disconnect between executives and consumers, with many leaders overestimating the trust placed in their organizations. Despite an increased focus on understanding and earning trust, executives in sectors like consumer markets and financial services report higher levels of trust than what consumers express. This trust gap is a cause for concern, especially given that trust is critical to business growth and customer retention. The survey emphasizes that safeguarding personal data remains a top priority for consumers, but fewer executives are disclosing data privacy policies, missing a key opportunity to build trust.
The survey also highlights the importance of internal trust within organizations. Employee trust is closely linked to job satisfaction and organizational success, yet there is a significant gap between the trust executives believe they have from employees and what employees actually feel. PwC advises leaders to prioritize trust-building by fostering transparency, improving communication, and embedding trust into corporate culture from the ground up. Addressing these gaps is essential for maintaining consumer and employee loyalty, particularly in a digital age where trust can be easily lost and difficult to rebuild.
