From Sheree Anne

New, Clear Chamber Leadership Opportunities

The long-running Edelman Trust Barometer released its 2023 data last month. As with all data, there is no one right way to respond. Data informs, but it doesn’t design strategy. Strategy requires understanding your own landscape, the savvy to focus on what is most pertinent to your stakeholders, and the emotional intelligence to know how to approach your audiences.

Among the many enlightening takeaways, this year’s results highlight several points relevant to chambers and the businesses we serve:

Business is viewed as our most trusted, competent and ethical institution
While media and government are increasingly seen as incompetent and unethical, trust in business in the U.S. has climbed 6 points since last year (the largest gain globally for business)
The public expects business to weigh in and take action on societal issues, even while they recognize the risk of politicization from taking a stance

While there’s no one-size-fits-all action to take, there are several clear opportunities for chambers and businesses. The barometer also raises critical questions to ask ourselves about the role we’ll play as we determine the strategy that best suits our market and its needs.

Polarization and Partisanship

The survey finds that distrust for major institutions yields the polarization we’re experiencing, and increased polarization amplifies distrust. A vicious cycle. Not only does the public trust business and want business to take more action to solve challenges that we face, but they also expect business to hold divisive forces accountable. In fact, business leaders are seen as a unifying power.

The data sparks a few questions to ask ourselves:

How can our chamber help fill the leadership void the public sees?
With an expectation that better outcomes occur when government and business work together, where can we highlight and strengthen existing partnerships and encourage more collaboration where it lags?
If we’re not weighing in on a specific political issue, can we affect change in other ways like convening competing voices to seek solutions or hosting get-out-the-vote drives to spur public engagement?

Trusted Source of Data

This year’s survey dug into what actions could help insulate business from being politicized. The top response was being a trusted source of accurate information. Business is trusted, and so are chambers.

Things to consider:

What data would drive productive conversation around our greatest challenges? Can the chamber deliver, or partner with others to deliver, trusted insight?
Even if a chamber or business doesn’t take a stance on an issue, how can we leverage data? Sometimes sharing data without a proposed solution can spark conversation and yield new solutions.
Are there areas of improvement in our region where comparing our community to other markets will highlight disparities and opportunities?

Chamber’s Role in Community Impact

When asked how CEOs can improve economic optimism, there were expected responses like paying a fair wage and paying a fair share of corporate taxes. But an eye-opening statistic is that 79% of respondents think CEOs should ensure their local community is safe and thriving. This aligns with a chamber’s role in cultivating a thriving community.

Questions worth exploring:

Can we facilitate a shared vision to ensure that all local stakeholders align on what’s needed for a thriving region, not just now but for years to come?
Do our investors recognize the expectations citizens have for them?
What data can we gather to determine the forces and trends that will be shaping our future?

I recommend sharing the Edelman Trust Barometer data with your boards and teams to see what conversations it sparks. It’s also a good time to consider how your chamber can embrace the leadership opportunity that exists given public trust factors. In light of our chamber of commerce renaissance, we have the ability to be an even more powerful force to strengthen our regions. What strategy will you devise? I’d love to hear about your plans or brainstorm, so please reach out to me any time.

If you’d like to host a discussion about the Edelman Trust Barometer findings with your board, staff or other stakeholders facilitated by Sheree Anne Kelly, contact Karen Rose at krose@acce.org. Sheree Anne is available virtually or in-person for a small fee. Horizon investors qualify for a free facilitated presentation.