BBB survey reveals 50% of respondents work for businesses they don’t trust

A recent survey conducted by the Better Business Bureau unveils compelling insights into the state of employee trust and consumer loyalty.

The questions were presented to the BBB’s newsletter subscriber database of more than 50,000 independent consumers. Individuals from various generations were polled to understand their experiences and opinions on whether they work for trustworthy businesses and their likelihood of returning to a company after a bad experience.

A staggering 70% of consumers opted not to return to a company following a negative experience, and 50% of the respondents across all age groups believe they are employed by untrustworthy businesses, the survey shows.

These statistics underscore the urgent need for businesses to build trust and address customer concerns with utmost effectiveness, says Steve J. Bernas, president and CEO of the Better Business Bureau.

“This highlights a critical issue for businesses, as trust is a fundamental component of employee satisfaction and retention,” Bernas said. “Trust is the currency of today’s marketplace. The poll underscores the importance of companies maintaining high standards of customer service and trustworthiness to retain and attract both customers and employees. Retaining good employees and reducing churn is a key building block to success.”

Furthermore, investing in comprehensive employee training and cultivating a customer-centric culture significantly will enhance a company's reliability and credibility, he added.

These strategies are essential for sustaining long-term success and reinforcing the company's reputation as a trusted and dependable entity,” Bernas said.

“Customer retention is the cornerstone of long-term business success,” he said. “When customers face issues, their perception of the company is profoundly influenced by the resolution process. A breach of trust can result in lost business, damaging word-of-mouth, and severe reputational harm.”

A proactive and practical approach to addressing complaints not only fosters customer loyalty, but also can transform a negative experience into a positive one, reinforcing the company's commitment to excellence, he said.

To maintain a robust customer base, businesses must prioritize transparency, effective communication, and prompt resolution of issues. By delivering exceptional customer service, acknowledging mistakes, and swiftly implementing solutions, companies can rebuild trust and foster repeat business, Bernas said.