Plus, Scott Galloway joins The TrustMakers.
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Edelman Trust Institute
The Trust Report

•  JULY 31, 2024 • 

Welcome to the Edelman Trust Institute's newsletter — providing information, context, and applications for trust in business and society. If you find this insightful, pass it along to a friend or colleague. And don’t forget to subscribe.  

Expert Voice

Trisch Smith

Trisch Smith is Edelman's Global Chief Diversity, Equity & Inclusion Officer.  

Diversity, equity and inclusion (DEI) practices intended to end inequity and inequality and foster inclusion and belonging have existed in companies and universities since the mid-1960s and 1970s. The programs have become more ubiquitous and significant in workplaces over the last few decades. But in the last year or so, we’ve heard some people asking the question, “Does DEI really work?” The resounding answer, based on new data from the 2024 Edelman Trust Barometer Special Report: Business and Racial Justice, is “yes.”

 

According to our latest annual report, people see DEI strategies as crucial to upending systemic inequities, including racism. Three in four respondents say that workplace DEI programs are an effective way to address racism in the U.S.—making it one of the top methods, only behind requiring schools to teach the history of people of color and enacting police reform legislation.

 

And the concept and value of DEI is becoming more popular among the public: Twice as many Americans say that in the last five years their feelings about formal DEI programs have become more positive than have become more negative (38 vs 17 percent).

 

The work is wanted and, more importantly, the work works. While we are living in a contentious social and political moment, employers must push ahead and continue the momentum to keep driving change for their employees, customers and communities.

 

Diversity, equity and inclusion work is more than policies and programs—it is personal and purposeful. As a Black woman, a business leader and a global diversity, equity and inclusion officer, I have experienced and witnessed how employers’ efforts can change individual experiences, workplace culture and opportunities and societal circumstances for many who face inequity and discrimination.

 

I’ve also seen how this work has evolved, especially over the last four years—moving from loud and notable commitments to now a swift retreat and about-face for many organizations and leaders. Despite the orchestrated roadblocks from some groups, the growing awareness and advancements sparked by recent commitments have laid a foundation for continued progress. It's crucial to recognize that lasting change often requires persistence and resiliency, even in the face of challenges and setbacks.

 

Continue reading for recommendations to DEI practitioners and advocates.

Stat Spotlight

DEI Seen as a Business Choice, Not Part of a Political Agenda

To Gain Support: Show Business Results

2024 Edelman Trust Barometer Special Report: Business and Racial Justice. DEFSr1.You are about to see a series of two choices. Please choose the one that you agree with more. General population, U.S., and by political affiliation. For more details regarding the samples and demographic proportions within each, please refer to the Technical Appendix. Year-to-year changes were tested for significance using a t-test set at the 95%+ confidence level.

TrustMakers

A Podcast from Edelman and Advertising Week

 

The TrustMakers is where listeners learn from global experts about what it takes to build trust in today’s society. Subscribe wherever you get your podcasts.

 

To close out The TrustMakers’ series of episodes on the ground at the 2024 Cannes Lions International Festival of Creativity, Scott Galloway, professor of marketing at NYU Stern School of Business, sat down for a conversation with Edelman CEO Richard Edelman about findings from the 2024 Edelman Trust Barometer Special Report: Brands and Politics.

LISTEN NOW
The TrustMakers

Talking Trust
Edelman Trust Barometer Data in Behavioral Science & Policy Journal
Reuters Institute University of Oxford

Public Perspectives on Trust in News

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The Guardian

How Taiwan Bucked a Global Trend – and Restored Voters’ Trust in Politics

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MIT Sloan Management Review

In AI We Trust — Too Much?

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