Bridging the trust gap: Navigating the evolving relationship between employers and employees

One of the things that drew me to PwC back in October 2010 was its commitment to being a purpose-driven and people-oriented firm. Today, our firm’s purpose – to build trust in society and solve important problems – remains a steady anchor for everything we do. We can all agree that the problems we’re solving for today look very different than they did even a few years ago, whether it’s the continued impact of the pandemic or navigating economic uncertainty. One challenge that no organization can afford to ignore is the evolving dynamic between employers and employees.

PwC’s third annual Trust Survey found that the trust gap between employers and their employees remains unresolved. This year’s survey found that while there is still a strong consensus between business leaders and employees that organizations have a responsibility to build trust, only 65% of employees say they trust their employer (down from 69% in 2022), while 79% of business executives perceive employee trust to be “high” (down from 84% in 2022).?

Though the gap has narrowed slightly, the overall decrease in trust reported by both groups is disappointing. However, what we’ve learned from the data is that trust is not static; it continually moves and reflects the changing nature of employee experiences and employer actions.?

The good news for employers is they have the ability to take action and aim to restore their employees’ trust.

How to Restore Trust

Start by actively listening, then incorporating employee feedback in executive decision-making. Your people know what’s working and what isn’t. According to this year’s PwC Trust Survey, there are several essential factors needed to foster employee trust; transparency and clear communication are highly valued (72%), while offering flexibility (66%) is another key pillar of trust building. As PwC’s Chief People Officer, these three actions rise to the top when working to build trust:

1. Be transparent. Part of being transparent – and perhaps the most important trust-building action – is being open about the progress against your goals, even if you’re falling short. Set goals and be honest about the journey to make them real. At PwC, for example, we continue to lean into our purpose with transparency by reporting on DEI progress through our annual Purpose and Inclusion Report. We have made strides in cultivating a more diverse and inclusive firm, but there’s always more work to be done. By sharing our aspirational goals with our people and with society, we can be accountable for our continued progress.
2. Know your “why.” At our fourth Leaders in Action event – our development series featuring thought leaders talking about the human dimensions of leadership and coaching – I spoke with Daymond John, founder and CEO of FUBU and star of the award-winning series Shark Tank, and David Heath, co-founder and CEO of Bombas, about the art of building trust. We agreed that a key factor in building trust is understanding our “why” as the higher purpose driving our actions. To quote Simon Sinek, “People don't buy what you do; they buy why you do it.”
3. Use technology. Utilize digital listening tools to help collect feedback, and then report back on what you hear and plan to do in response. One way PwC leans on technology is by providing insights-based tools as part of our My+ strategy, a three-year journey we embarked on last June to reimagine our people experience and respond to their evolving needs. Our Team Polling tool allows leaders to get a quick pulse check from their team, while My Feedback provides a simple way for people to share upward and peer feedback in real-time. Through these tools – and in addition to regular firmwide check-ins – we’re able to actively demonstrate our culture of listening and use insights to drive decision-making and earn trust.?

I wholeheartedly believe that an organization is only as good as its people and the culture they share. When our people are satisfied, fulfilled and motivated, our clients can see that in the work we do and in the solutions we deliver. Delivering a successful and impactful experience to our people requires that we earn – and then work to maintain – our people’s trust.

As employee trust continues to evolve, so do employers’ opportunities to earn it. The data from our 2023 Trust Survey is clear; each and every one of us, as leaders, needs to step up and take intentional and transparent action to bridge the trust gap with our employees.

What does trust mean to you in the workplace? I’d love to hear in the comments below!