A third of Americans think that tech companies aren’t regulated enough, according to a new study from FleishmanHillard , as reported in Protocol. Quoting them:
56% of Americans — and 59% of those surveyed around the world — think that tech companies “need to take more action to address the consequences of their policies, practices and products.”
- FleishmanHillard’s Sophie Scott said the study was done to inject some numbers into conversations about privacy and regulation that are so often “based on feeling, rather than data.” She said the data showed her that while a lot of people still trust and like the tech industry, opposition is growing.
- Gen Z trusts tech the least, Scott said, which should be particularly alarming for tech companies. “What does that mean for recruitment in the tech sector?” she asked. “If you’re facing increased competition from health care and automotive and these other growing industries, how are you going to handle that?”
- A couple of other interesting numbers: About a third of people also say they just don’t trust tech companies, and the percentage of people who think tech needs to do more to address its issues has gone up more than 20% just since last year.
Why do we care?
This is the context in which you do business now. Think of the progress – technology was billed as the next thing, the big innovation, and could do no wrong. Pew Research showed a 20 point dip previously, and now there is this survey showing things are even worse.
Be aware of this climate in all things business – selling, hiring, managing, as well as incident response and ongoing communications with customers. You are going to have to focus even more on trust.
The good news is that the focus on business value – delivering outcomes – connects here. If you’re good at that, you’re ahead.