Global Trust Index Reveals High Confidence in Malaysia
Edelman released its annual Global Trust Index and Malaysia is still in the top 10. Over 28 countries were surveyed and Malaysia’s trust score dropped by 3 points, averaging at 62 points. This puts the country in the 9th spot out of 10 on the Global Trust Index.
A Decline in Trust
The Government and the media were responsible for the decline in trust. The decline in Government’s trust dropped by 8 points while the media dropped by 5, plummeting both into neutral territory. Businesses and NGOs experienced a decline of 2 and 1 points respectively.
Concerns Affecting the Global Trust Index
Several concerns among Malaysians affected the country’s ranking in this year’s index. Among those fears include the end of democracy, slower economic development, personal financial struggles, the inability to address societal challenges, and worsening discrimination and prejudice. Malaysia had the weakening economic landscape among its major concerns.
At least 96% of Malaysians expressed worry about losing their jobs due to the declining economic landscape, as revealed by the survey. These economic fears and views are shared globally. This puts on an onus on institutions to regain the people’s optimism by providing solutions.
Rebuilding The Nation’s Trust
If Malaysia wants to move up in ranks in the Global Trust Index, it must take on a more active role in addressing issues. Particularly societal issues to foster a sense of unity among Malaysians again. The survey also revealed that at least 90% of Malaysians are expecting CEOs to take a public stand when it comes to issues like climate change, the gap in wealth, immigration, discrimination, and the treatment of employees. CEOs are also expected to pay air corporate taxes and wages, and retain employees.
Businesses and the Government must work together to help rebuild and regain trust.
Looking to Foster Better Relationship with Your Stakeholders?
Contact us today to get professional advisory services from 3E Accounting. We can assist businesses in addressing challenges, fostering unity, and rebuilding internal and external trust in Malaysia. Contact us to discover more on how our expertise can help you navigate the path to success.
