Of executives involved in their organizations’ digital trust programs — which manage data protection, privacy and/or governance — 21% lacked confidence in the effectiveness of those programs during the past 12 months, according to a Deloitte poll.
The poll of 590 C-suite and other executives also showed that while few execs are confident in their programs currently, there’s reason for optimism: Nearly half (49%) expect to increase time and effort put into their organizations’ digital trust programs in the coming year.
“It’s encouraging to see so many organizations planning to take the necessary steps to strengthen their privacy, data protection and governance programs,” Tanneasha Gordon, Deloitte Risk & Financial Advisory’s data and privacy leader specializing in digital trust, said in a news release. “I think many executives are starting to realize that trust is crucial to driving brand value and earning sustained customer loyalty. Privacy programs, data protection safeguards and governance processes are all risk and compliance levers of trust that can build brand equity with consumers, engender confidence with regulators and increase value for shareholders.”
The survey also showed that while more than half of respondents indicate that their organizations’ top leaders work closely on digital trust programs (59%), 21% say that such leadership coordination is lacking.