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Our 2024 Trust Roadmap progress update
Trust is a critical priority for all organizations, including PwC Canada. It is, after all, at the heart of our purpose: to build trust in society and solve important problems. This is why, at the beginning of 2022, we released our Trust Roadmap, which outlined what trust means for us, how we’d go about building it, the metrics we’d use to measure our progress and insights for the future.
We promised we’d hold ourselves accountable by disclosing how we’re doing on the targets we set to address our key drivers of trust. We encourage you to explore our latest Trust progress update to learn more about what we’ve done, the results so far and what they reveal about how trust can help all organizations protect and power their business. We’re proud of our actions and our results to date, but we also know we have more work to do to truly address our blindspots and meet our stakeholders’ rising expectations.
Canadian organizations know that their customers feel it, their employees expect it and their investors are demanding it.
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Navigating a critical imperative for Canadian businesses
We know we’re not alone in focusing on trust. Canadian organizations know that their customers feel it, their employees expect it and their investors are demanding it. As they grapple with growing competition for capital, emerging technological and geopolitical risks, the need to attract and retain talent and rising expectations to deliver a sustainable impact to all of their stakeholders, many organizations are acknowledging the importance of trust as a key lever of protecting what matters most and powering innovation and reinvention of their businesses.
But while organizations are focusing more on trust, they’re at different stages of the journey towards building it. Some are trying to understand what trust means for them, while others are grappling with diverging and sometimes conflicting stakeholder expectations for what they should be focusing on. This is another reason why we’re disclosing our own roadmap for building trust, which included an in-depth look at our blind spots, opportunities to build on our strengths and the disclosures our stakeholders care about most.
So how did we approach building trust?
There were three key steps in our trust journey:
Understanding trust in relation to PwC Canada
The journey to building trust starts with analyzing marketplace expectations and exploring the stakeholder landscape. We asked ourselves questions such as: Who are our key stakeholders and how do they feel about us? How are market forces impacting stakeholder trust? This helped us better understand what trust means to us as we moved towards our ultimate goal of making choices and prioritizing actions that further enhance our resilience and accountability.
Using data to identify key trust drivers
Building on our findings about our stakeholders, we delved further into the data to pinpoint the key drivers of trust in our firm. This required us to work with our advanced analytics team to analyze sentiment across 45 different trust drivers to identify the issues that matter most to our stakeholders. Further analysis helped us narrow this down to top trust drivers and disclosures across three categories: key priorities to address potential blind spots that erode trust; building momentum around our competencies; and table-stakes disclosures.
Identifying tools, measurement and accountability frameworks
To hold ourselves accountable, we’ve identified key performance indicators (KPIs) that assess how well we’re doing across our top trust drivers and disclosure topics. We’re committing to providing transparent, outcome-focused disclosures on our progress against our KPIs.
Our challenge to you
By disclosing our roadmap, we’re also hoping to inspire other organizations to take the journey themselves. We believe sharing our experience will not only increase trust in PwC Canada but will also serve as a challenge to others to apply this process to their own organizations. To learn more about the journey and how we’re making progress on the key drivers of trust in our firm, explore our Trust Roadmap.
“It is important that our everyday actions match our commitments. We have to do what we say and say what we do. And we need to make sure our actions are driven by what our stakeholders expect of us—not vice versa. That's the game changer here. And if we get that right, we can be agile, responsive and proactive in ways that build and earn trust, both as individuals and as a community of solvers.”
Talking Trust podcast
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Contact us
National Managing Partner, Clients & Markets, PwC Canada
Tel: +1 514 205 5199
