This year’s ‘Belief in business: state of the nation' research from communications consultancy Radley Yeldar (RY) has revealed some unpromising news about the British relationship with UK businesses. The study found that 45% of Britons believe that ‘things are going in the wrong direction in the UK,’ as only 29% are ‘feeling optimistic about the years ahead.’ Nonetheless, 78% of respondents ‘still believe business is the key to building a successful society.’
The research also discovered that larger companies are struggling to maintain a good reputation compared to smaller and medium-sized companies, toward which people are less sceptical, because of an increasing cynicism with larger companies. The report states that three out of five people (59%) will ‘stop using a business they don’t believe in.’ Transparency is important to Britons, and if they don’t believe a company is living up to certain standards, it will have consequences for the companies, as they will stop supporting it. This includes the company’s policy about the environment (47%), not respecting their employees (56%) or not paying taxes (56%).
Nevertheless, the study also identified some ‘belief triggers,' which encourage a positive attitude towards the businesses’ people may encounter.
Carl Radley, chairman and founder of RY says, “Events of the last few years have shaken our confidence in the future. But with the right behaviours, companies can kickstart and revitalise the public’s belief in them, which is crucial to their longevity. Evidence times inspiration is the new formula for success in a changing world. This research confirms that the onus is on business to create the world we all want to live in. The belief triggers are a good place to start.”
Happy employees who work in a rewarding workplace (56%), businesses that shares information transparently (52%), and businesses that are looking to improve and leave behind a better society, are on the list of conditions that would make the public support a company.
This article originally appeared in Communicate Magazine. To read it, click here.