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Trust & regulation\u00a0mix like\u00a0oil and water, yet oil\u00a0always rises to the top.<\/strong><\/p>\n The 2015 PWC CEO Survey has just been released, and 78% of CEOs are concerned<\/a> about over-regulation, and for good reason<\/a>. Regulation\u00a0happens to be a trust killer, but that’s not their main cause for concern. Regulation, like low trust slows down the pace of business and innovation. It’s also very costly.<\/p>\n Richard Sexton, PWC’s Vice Chairman of Global Assurance, filmed this short video in which he (attempts to) explain<\/a> the important role of trust in business, except he misses the mark.\u00a0To PWC,\u00a0the route to trust is through (more) reporting. Create more boxes to check and teach companies how to check them and like magic, you’ve got trust!<\/p>\n So let’s recap, CEOs are burdened by increasing regulation and the escape hatch is via more reporting. Except trust\u00a0CANNOT\u00a0be regulated and it’s also NOT\u00a0a check the box finite reporting “project.”<\/p>\n Building organizational trust begins when the CEO, with the support of his or her Board, commits to\u00a0run a trust-based organization and takes the required steps to do so. But there are certain prerequisites\u00a0that\u00a0must be met in order to make this commitment:<\/p>\n Hiring more compliance staff, increasing regulation and checking more boxes will not build stakeholder trust, regardless of what this survey and others have claimed.\u00a0PWC may be\u00a0carving out a “reporting” practice area that will serve it’s internal needs and that of its clients for many years to come, but it’s as much about trust as oil and water.<\/p>\n Barbara Brooks Kimmel<\/strong>\u00a0is the Executive Director of\u00a0<\/span>Trust Across America-Trust Around the World<\/a>\u00a0whose mission is to help organizations build trust, and runs the world’s\u00a0largest membership program<\/a>\u00a0for those interested in the subject. She\u00a0is also the editor of the award winning\u00a0<\/span>TRUST INC.<\/a>\u00a0book series and the Executive Editor of\u00a0<\/span>TRUST! Magazine<\/a>. In 2012 Barbara was named \u201cOne of 25 Women Changing the World\u201d by Good Business International.<\/span><\/p>\n Our annual poster,\u00a052 Weeks of Activities to Increase Organizational Trust<\/a>\u00a0is available\u00a0to those who would like to support our work by making a small donation.<\/p>\n Did you know we have published 3 books in our award-winning\u00a0TRUST Inc. series<\/a>. They are yours when you\u00a0join our Alliance.<\/a><\/p>\n Copyright 2015, Next Decade, Inc.<\/p>\n <\/p>\n\n