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The public's faith in the ability of leading companies to make a positive difference in the world around them is surprisingly weak, according to a new study from the Page Society and The Harris Poll.
Only about a quarter (26 percent) of the more than 15,000 people across 14 countries surveyed for the study said that they were “very confident” that business could move the needle on a set of 16 topics including environmental issues, corruption and technological innovation.
With a 23 percent confidence level, the US ranked below the global average, but it still topped France, Germany and the UK (all at 16 percent) as well as Japan and Italy (14 percent). Countries with a more positive take on the ability of businesses to bring about change included the UAE (43 percent), India (45 percent) and Saudi Arabia (48 percent).
Differences could also be seen across a variety of social divides. For example, Boomers were far less confident (15 percent) than Gen X (26 percent), Millennials or Gen Z (both at 32 percent). In addition, city dwellers were more confident (31 percent) than their suburban and rural peers (19 percent).
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The top issues on which survey respondents wanted to see companies having an effect were economic stability and growth (63 percent), job creation and workforce skills development (58 percent), and corruption (57 percent).
A focus on mental health issues was much more important to younger respondents. Gen Zers rated mental health as #2 on their list of the top 6 issues, with Millennials ranking them at #3. For boomers, mental health didn’t make the top 6 at all
To find out how companies can combat this confidence gap, the study consulted 40 CCOs from across North America, Europe, Asia and the Middle East.
Those respondents pinpointed four top risks that should be on companies’ radar as they work to raise confidence levels in the coming year. They are resistance to ESG/DEI, polarization and low trust, shifts caused by policy shifts brought about the Trump administration, and such geopolitical challenges as rising populism and international conflicts.
They also give some advice for CEOs to follow in 2025. In addition to encouraging CEOs not to engage in activities that can be perceived as political or partisan, that advice includes working to better understand and listen to customer experiences and adapting company communications to the changes in the social and political environment. Stepping back in order to gain a little perspective should also be on the menu. “Don’t overreact to external events,” the CCOs caution.
The results of the Page Society/Harris Poll were compiled from an online survey conducted between Dec. 17 and 23 of last year.
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