A Jaded Nation

This week, the Edelman Trust Barometer revealed statistics which confirmed something we all knew: only 30 percent of the nation "found CEOs to be believable spokespeople for their organisation". The statistics show a nine percent drop in our faith from 2010. The survey also found something which reflects where the missing faith has been placed - there was a 25 percent rise in the credibility of "people like yourself".

This subject has been debated and dissected a million times over before I even begin typing, but I found myself drawn to this article, dry as it may have appeared when I started reading, for reasons which became clearer as I read on. The problem isn't just that the Goodwins and the Hesters of the corporate world are seemingly being rewarded for a botch job; the bigger problem is that as a nation, we can't identify with their apparent values and work ethic in the slightest.

Stephen Hester was away at his chalet in Switzerland for the weekend when he received the news that ministers and the media were outraged by his RBS shares bonus, and that he probably wasn't going to see a penny of it.  Cue images flying around in my mind of a downtrodden balding guy in a Christmas jumper, holding his head in hands by an open log fire, on a leather sofa, being consoled by his beautiful wife who strokes his back with perfectly manicured fingers. Amidst general economic despair and climbing unemployment, particularly in youth unemployment figures might I add, how could we, as a nation, possibly relate to his woes, or feel that he could represent us in any way, shape, or form?

Hester's basic salary is £1.4 million; from our perspective, the bonus he's missing out on sounds like a drop in the ocean to a guy like him. Most of us cannot imagine what earning that amount may feel like, but we do know what it feels like to stand in Topshop for half an hour, stroking that dress and convincing yourself that you earned it, and you really really need it because essentially, you are pumping money back into the economy, or if all else fails it's OK to not buy lunch for the rest of the month. Yes, I speak from personal experience.

I've drawn my own conclusions from these results, and the overriding factor for me isn't that I can't trust any CEOs in the world - it's that there aren't many I can relate to on a human level. We're almost led to believe they are a super-human robot race, built to serve the purpose of their company and naught else. As noted in my previous blog post, I have a lot of respect for Antonio Horta-Osorio, Lloyds Group's CEO for refusing his bonus, and I definitely believe that the sudden focus on bankers' bonuses and the media's ethical frenzy over them was in part set-off by his actions (amongst other factors).

Sometimes it takes one to know one - and most of us can probably deduce now if we haven't already, that becoming CEO of a bank is not in our life plan.