3 Ways Your Company Can Build Trust During The Pandemic

The global communications firm Edelman measures consumer trust around the world and considers this a moment of reckoning for business. Here are three ways your company can build trust.


 

Like everything else about 2020, the next Edelman Trust Barometer will be different. Following their popular standard annual report on global consumer trust in companies, governments, and nonprofits across the world, Edelman issued a special report on the COVID-19 pandemic. Half of respondents believe business is doing poorly, moderately, or completely failing at putting people before profits. “This is a moment of reckoning for business, which must now deliver on the promise of stakeholder capitalism,” the special report said.

What concrete steps can companies take to build trust in these unique circumstances? Here are examples of how companies are taking action and suggestions that might make it easier to implement three of Edelman’s ideas:

    1. Help people deal with specific challenges of life in the pandemic.

     
    Turning Edelman’s advice into action:

    Example: Verizon increased cell data allowance for customers, understanding that they would need to communicate digitally much more.

    Idea: Buy gift cards to local businesses around your company’s location to support their long-term sustainability. Distribute the gift cards to front-line employees and workers who have borne the brunt of challenges associated with the new normal.

    2. Foster a sense of community.

     
    Turning Edelman’s advice into action:

    Example: Salesforce held a small-hands meeting where employees read books to other employees’ children.

    Idea: You know that big travel budget you haven’t spent? Use it to give your employees DonorsChoose, GlobalGiving, or Kiva gift cards so they can allocate those funds to communities in need.

    3. Extend empathy and support to those affected by the pandemic.

     
    Turning Edelman’s advice into action:

    Example: More than 400 companies are helping their employees who’ve experienced catastrophic disasters and financial hardship by establishing assistance funds through organizations like Emergency Assistance Foundation and E4E Relief.

    Idea: Still have funds left in that travel budget? Make a grant to a local organization that is impacted by COVID-19. GlobalGiving has more than 900 COVID-19 projects in 102 countries to choose from and can help you identify one that’s right for your company.

This is a moment in history everyone will remember. Make sure your company’s actions—how you cared for employees, customers, suppliers, and your community—represent you in the way you want to be remembered.

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