Burda's innovation conference, DLD Munich, with the most exciting minds of our time and countless networking opportunities took place from 20 to 22 May in Munich's Gasteig.
This week at DLD Sync, Richard Edelman and his daughter Margot Edelman gave exciting insights into the trust felt worldwide in governments, non-governmental organisations (NGOs), business and the media. Edelman is the largest owner-managed PR and communications agency. Every year, it presents its international study on trust – the Edelman Trust Barometer – to business leaders and politicians at the World Economic Forum (WEF) in Davos. This year is already the 20th time. For the Edelman Trust Barometer 2020, more than 34,000 people in 28 markets were surveyed by 30-minute online interviews.
For DLD Sync, Margot and Richard Edelman updated the Trust Barometer and referred to the current situation: How has the corona pandemic affected our trust in certain institutions? And what role should companies play in the anti-racism debate?
Governments are the most trusted source of information
In January 2020, business (such as one's own employer) was at the top of the Trust Barometer for the first time. However, the tide has turned within a few months: Currently (May 2020), governments worldwide are considered the most trusted source of information (see chart). According to Edelman, however, this development will not be permanent but can be traced back to the corona pandemic. More than two-thirds of the respondents (67 percent) are concerned about fake news circulating about the virus. Trust in technology companies also declined or stagnated respectively, which may be surprising in part, as we are currently more dependent than ever on technical innovations (e.g. for working from home).
63 % of Americans are concerned or very concerned respectively about the current situation in their country with regard to racism. Brands must take a stand on #BlackLivesMatter and inequality, Richard Edelman says. “If you don’t, you will be punished. You have no choice today but to act,” Edelman concludes.
“We need leaders such as Hubert Burda”
“For those of you who work for family businesses, I want to point you to the example of Burda: Hubert Burda is one of the great men of the last 50 years. He recognized the opportunity in Eastern Europe, and the digital opportunities. He has partners like Steffi Czerny and Paul-Bernhard Kallen who are running the business in the way it should be, which is for long-term capitalism and for the benefit of the employees and their communities and not just for the shareholders. I guess family business has a special responsibility at this moment to try to make the case for what we do. Don’t put your head down and don’t hide! We need public leadership and we need leaders such as Hubert Burda,” said Richard Edelman to the DLD Sync community.
Watch the video of Margot and Richard Edelman’s DLD Sync session here.
Upcoming DLD Sync sessions: