Forrester's North America Predictions 2023: To Thrive, Organizations Will Make Consumer And Employee Trust Their Business Imperative
Firms that earn greater trust with consumers and employees drive loyalty behaviors such as retention and advocacy, helping to ensure resiliency and long-term growth. As customer and employee distrust continues to rise, in 2023, regulators will step in and crack down on greenwashing, misinformation, and employee surveillance practices.
- Trust in consumer technology companies will decline by 15%. Waning tech dependency, combined with tech company scandals, an inability to protect users from emerging risks, and lack of effective ethical measures in their digital environments, will progressively erode consumers' trust.
- At least 10 companies will incur
$5 millionor more in greenwashing fines. Greenwashing scrutiny from distrustful consumers and empowered watchdogs will significantly increase, pushing regulators to target companies that spend more time and money on marketing themselves as environmentally conscious than actually minimizing their environmental impact.
- AI usage to monitor work-from-home productivity will batter employer trust. Rising firm and business-leader usage of AI to track knowledge worker productivity will result in more than half of employees actively seeking new opportunities at new organizations in the next year,
Forresterfinds. Employee distrust will be further fueled by 40% of hybrid-working companies attempting — and failing — to undo their anywhere-work policies.
- Banks will lose consumer trust during economic turmoil. Consumer trust in banks is falling for the first time in several years, as many consumers believe that their bank lacks empathy and isn't following through on lessons learned from the pandemic, according to
- People's trust in government will increase in the US. In 2023, the US will build on dependability — the ability of a government to keep people safe, foster economic growth, and ensure an effective recovery from crisis — as a core lever of trust while also investing heavily in trust levers such as accountability, competency, and transparency.
"In 2023, successful leaders will focus on eliminating wasteful efforts and prioritizing long-term growth," said
- Download Forrester's 2023 Predictions complimentary guide, covering 12 big-impact predictions for the coming year.
Forrester's2023 Predictions hub to explore additional resources.
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