62 percent of Americans tell CEOs 'You are not doing enough to restore trust and confidence in Ameri (page 1 of 2)

Nearly two-thirds of Americans now hold CEOs personally accountable for restoring trust and confidence in American business, according to the latest opinion survey of 'Trust in American Business' conducted by Golin/Harris, one of the country's top 10 PR companies, among Americans over the age of 18. When asked if "CEOs and Business leaders are doing the right things and all they can to restore trust in business?" only 38% agreed that CEOs are doing enough, compared to 62% who disagreed saying CEOs need to do more.

Further, the popular feeling is the decline of trust in American business is far from over. Thirty-seven percent of people interviewed said the crisis of trust will get worse over the next few months, and another 45% believe the situation is going to stay the same. Just 16% optimistically predicted the situation will improve, and a mere 2% said they do not feel there is a crisis of trust.

"What began as a concern about business practices at a few companies in a handful of industries has become a widespread erosion of confidence in leadership across the business landscape," observed Ellen Ryan Mardiks, Worldwide Director, Marketing and Brand Strategy for Golin/Harris.

"For many companies, the CEO is the personification of the brand. When consumer trust in the leadership fades, a brand can be crippled in the stock market, on the store shelves, in the halls of government, around the water-cooler at work and in the communities where companies do business. People are looking for clear, creative and constructive leadership from CEOs that demonstrates trust is a priority and they are committed to building trusted brands," Mardiks continued.

While clearly concerned about the state of trust in American business, consumers also are telling CEOs in positive terms what they have to do to rebuild trust and confidence. In its 2002 benchmark trust survey Golin/Harris asked people to imagine they were speaking with a CEO they respect, then giving him or her advice on what are the most important things to do to keep earning their trust. The following are the top scoring recommendations that survey participants said were essential or important to establishing and maintaining trust (score of 85% or above):

Essential or Important Trust Builder / Percent
Make customers the top priority 91%
Assume personal responsibility and accountability 90%
Communicate openly and frequently 89%
Handle crises better and more honestly 87%
Stick to code of business ethics no matter what 85%

"This is common-sense advice from common Americans, the kind of counsel every business leader can embrace and act positively upon," said Mardiks. "Consumers feel they're caught in the crossfire between an economy fighting to recover and a business community that appears drifting without a compass or a steady hand at the helm. Our research shows people are craving a return to value, quality and service. They expect forthright leadership by example, not evasion, and they want clear and consistent communication even when things are not going right.

"The brands that emerge as winners will be the ones that create this affirmative experience, beginning in the executive suite. The losers will be the brands that say 'trust is not my problem' or 'it will all go away soon enough.' Trust is a leadership challenge - and opportunity - for every company, and it requires action, not silence, from the CEO to set the tone, the agenda, and the standard," Mardiks concluded.

The questions asking if CEOs are doing enough to restore trust and if the crisis of trust is going to get better or worse in the next few months were part of a tracking poll of 200 Americans conducted by Golin/Harris.