Edelman Trust Barometer: Businesses should focus on integrity building

Emphasis should be placed on integrity building by businesses in Malaysia.

According to Edelman Malaysia's managing director Robert Kay, this will help increase the trust towards businesses in Malaysia.

Other than integrity, Kay said the depreciation in trust may be affected by a few domestic factors, such as local political issues, halal issues and mismanagement.

He added, although there has been a depreciation in trust, Malaysian businesses are willing to improve to perform better.

"We are not very sure of the exact factor contributing to the depreciation of trust, but out hypothesis is that there are many domestic issues, halal issues and mismanagement which may be the contributing factors," Kay said.

He said to further increase people's trust, chief executive officers of companies should be more relatable to their workers.

"CEOs should take part and share their personal experiences and challenges.

"It may be tough for certain companies, but data shows that if it is done, people will reward them with trust," he said after announcing the results of the 2016 Annual Global Study of Edelman Trust Barometer in Publika, today.

He added that globally, the survey shows trust in business bouncing back among the general population with a five point rise to 53 per cent, reversing the five point drop from the previous year.

However, Kay said, Malaysia headed the other way, with general population's trust in business sliding two points to 58 per cent.

Trust in business among the informed public, who tend to have higher levels of education and pay, was steady at 67 per cent, he said, adding that business remains the second most trusted in the four institutions in Malaysia and the most trusted to keep pace with the changing times.

Trust on NGOs took lead, followed by business, media and government, Kay added.

Kay also said the 5 percent Gross Domestic Profit (GDP) achievement for 2015 will increase the business sentiment in the country.

"We have been enjoying great economic stability for years. Malaysia is rich of natural resources. If our economy does not perform well, there is a high chance for the trust to fade.

"I believe the 5 percent GDP achievement will increase trust that the country will remain strong despite difficult times," Kay added.

Meanwhile, according to Maxis Malaysia's Head of Consumer Business Dushyanthan Vaithiyanathan, millennials should be given an important role in an organisation as the younger generation will determine the future.

"There has been a huge shift in the way the internet is used and it is clear that millennials play an important role in this shift.

"More companies should employ millennials and they should provide the environment that is allows them to contribute and give them the power to make decisions," Dushyanthan said.