Tomorrow Takes
trust
73%
Customer loyalty
How trust benefits your business
Q: To what extent does building trust in your company, internally and externally, help improve the following? (Response to ‘A lot’)
Source: PwC Trust in US Business Survey, Sept. 16, 2021: base of 503 business executives
—MOHAMED KANDE
VICE CHAIR, CONSULTING SOLUTIONS
CO-LEADER AND GLOBAL ADVISORY LEADER, PwC US
“Each leader in an organization is likely to work with stakeholders with varying definitions and expectations of trust. It is important that leaders consider those different perspectives as they seek to establish and foster trust.”
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58%
Positive reputation
56%
Expanding into new areas/markets
57%
Revenue growth
52%
Employee recruiting/retention
54%
Strong relationships with regulators/policymakers
54%
Brand equity/brand protection
55%
Growing customer base
48%
Strong analyst feedback
50%
Access to capital/financing
Trust goes beyond the bottom line.
PwC Vice Chair – US Trust Solutions Co-Leader Wes Bricker and Fortune Media CEO Alan Murray on why businesses are investing in ESG to build trust.
A company cannot go far without the earned trust of its stakeholders, including its investors, employees, supply chain operators, and consumers. And today, business leaders know that building that trust goes beyond a company’s bottom line. One critical driver of this trust: social responsibility—connecting to issues that are important to people.
Over the past 150 years, PwC has built a strong foundation of trust at all levels of business, but it has also learned how to evolve with the times. The organization has continually reorganized around the needs and wants of its employees, investors, consumers, and other key stakeholders. And as the company has evolved, creating a solid framework for environmental, social, and governance–related actions and opportunities has allowed for solid and sustained growth. PwC sees this work as a foundational investment in the future, not a luxury that can be ignored when new challenges arise, such as when a recession hits. When it comes down to it, it’s a long-term strategy, says PwC Vice Chair – US Trust Solutions Co-Leader Wes Bricker.
In the video above, hear Bricker share why companies are investing in socially responsible practices and how they’re integrating ESG into all areas of business to build trust.
“There’s no secret sauce to building trust, but proactively communicating with stakeholders about what you’re doing to build trust—and backing those words with action—is a critical step. Every company has a story, and business leaders need to make sure that the story they are telling is authentic to the company’s actions, operations, and its culture; what we do as organizations isn’t just about numbers—it’s about people, the communities we serve, and making a lasting impact.”
—WES BRICKER
VICE CHAIR - TRUST SOLUTIONS CO-LEADER, PwC US
