For this year’s top 3 trends, we picked “Distrust of Big Tech media fuels anxiety,” published Jan. 8, and Axios validated that in it’s newsletter from Jan. 18, noting:
“This trust crisis — flagged for us as part of a larger presentation by lobbyist Bruce Mehlman — is based on polling that shows how little confidence the public has in powerful players and institutions.”
We don’t like the situation but “trust chasm,” unfortunately, is an appropriate term to describe where we are as a country.
The rest of the Axios article looks at the implications of the trust chasm in terms of how it may play out in November but we see trust issues having an impact on Big Tech and other parts of the economy. According to the New York Times, “‘Techlash Hits College Campuses: Facebook, Google and other major tech firms were every student’s dream workplaces. Until they weren’t,” mistrust of Big Tech is hurting recruitment. (By the way, Mehlman’s presentation is interesting and worth checking out but focuses on political issues.)
Our point: trust is important in all kinds of relationships. Companies need to building up their credibility in order to maintain positive relationships with customers, employees, partners and others. And that can be challenging, given the ease with which negative information can get shared via social media.
This will be something that companies need to keep in mind as they go about their business in 2020.