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Westminster Business School report highlights UK business trust crisis

Business and Management 2 March 2015

A new report released by our Principal Lecturer in Leadership and Development, Dr Katalin Illes, in collaboration with the agency Top Banana and the Institute of Internal Communication, highlights the need for improved communication from business leaders to repair the broken trust of UK employees.

According to this report, released on Saturday 28 February, trust in UK business has suffered a serious decline since the 2008 global financial crisis, reaching its lowest-recorded levels last year. The research findings point out that only one in four members of the public trust business leaders to do the right thing, one in five trust them to tell the truth and 54% think that business greed is the main driver behind innovation.

This study highlights the evolved role of business leadership in the 21st century and the fact that many leadership communication approaches are unfit for purpose, and presents extensive evidence to show what a successful, trustworthy leader looks like nowadays in the UK.

Katalin Illes said: “Continuously declining levels of trust in society indicate that we are not relating to each other in the right way. Humans are social creatures and past and present findings confirm that strong and supportive communities have higher survival rates and prosper more. This is also true for business communities. Leaders play a key role in changing their own perceptions and helping the change process of others.”

This report focuses on the central role of effective leadership communication in creating and repairing trust. It starts with foundations, such as listening and the role of face-to-face communication, and moves on to practical guidelines for business leaders wishing to develop new, trusting work environments to drive higher performance and a more ethical workplace.

Visit the Top Banana's website to see the full report.

About Katalin Illes

Katalin Illes is a committed promoter of leadership and organisational development.

Her work includes public speaking, research, lecturing, coaching and consulting. Katalin has led and developed innovative, creative, trust based networks and partnerships to promote practice-based, life-long growth of individuals, communities and enterprises around the world. She is a leader of transformational change.

To find out more, visit Katalin's staff profile.

About the University of Westminster:

The University of Westminster boasts a vibrant learning environment attracting more than 20,000 students from over 150 nations and we continue to invest in our future with new developments, research projects and new ideas.

We offer highly attractive practice-based courses that are independently rated as excellent, many with international recognition. Our distinguished 180-year history has meant we lead the way in many areas of research, particularly politics, media, art and design, architecture and biomedical sciences, and our position in the city of London allows us to continue to build on our close connections with leading figures and organisations in these areas as well as in the worlds of business, information technology, politics and law.

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