OneTrust Report Reveals 70% of Organizations Consider Trust a Strategic Business Objective
Cision PR Web –
OneTrust’s “The State of Trust” report reveals that while business leaders understand the strategic value of organizational trust and are pushing towards integrating trust as a crucial part of business operations, they face several challenges in measuring and establishing trust programs.
Based on a survey of over 2500 senior leaders in the US and EMEA, the report sheds light on perspectives related to trust in organizations.
Key Findings:
– A vast majority, 91%, view organizational trust as important, and 70% consider trust a key business objective.
– 69% of respondents recognize trust as an essential component for growth and innovation, with 90% allocating specific budgets for trust initiatives.
– Challenges include aligning the board’s perspective with the importance of trust, as noted by 77%, and managing multiple stakeholders involved in trust, as agreed by 69%.
– A formal process for managing trust issues is anticipated within the next two years by 76% of organizations.
For CISOs, the importance of trust is even more pronounced due to the constant cyber threats and legal responsibilities they face:
– 74% of CISOs acknowledge the difficulty in innovation without trust, slightly higher than the general response.
– 80% of CISOs find it challenging to manage expectations related to upholding trust, a sentiment more pronounced than among other leaders.
Kabir Barday, CEO of OneTrust, emphasizes that demonstrating compliance is not enough; companies must also effectively communicate their ethical business conduct and integrity to maintain trust.
Catherine A.
Tomasi from Con Edison highlights that establishing trust is complex and unique to each business, involving more than just technological solutions, but also foundational steps like measuring trust, getting internal buy-in, securing funding, and identifying organizational ownership.
Link: https://www.prnewswire.com/news-releases/onetrust-report-reveals-70-of-organizations-consider-trust-a-strategic-business-objective-301973154.html