The "2019 Trust Barometer," conducted by public relations firm Edelman, shows that trust changed profoundly in the past year with "my employer" becoming the most trusted institution globally. In China, "my employer" has gained 80 percent, which is higher than the global average (75 percent) and ranks the second among all the markets surveyed.

The annual report, now in its 19th year, was based on an online survey of over 33,000 respondents above 18 years of age in 27 markets.

"The last decade has seen a loss of faith in traditional authority figures and institutions," said Richard Edelman, president and CEO of Edelman. "More recently, people have lost confidence in the social platforms that fostered peer-to-peer trust. These forces have led people to shift their trust to the relationships within their control, most notably their employers."

Chinese employees' expectations now go beyond the fundamental conditions to include societal change. In addition to providing employees with salary increase, training, and career development opportunities, Chinese employers are now expected to actively join their employees in advocating for and creating a meaningful societal impact (73 percent) and give employees a voice in key corporate decisions (78 percent). 

According to the survey, 82 percent of respondents say they believe that how a company treats its employees is one of the best indicators of its level of trustworthiness. A total of 72 percent of people surveyed agree that the trust in a corporate brand is one of the major factors for them to keep buying their product. 

"This is the emergence of the new contract between employee and employer," said Jesse Lin, CEO of Edelman Asia Pacific. "This contract calls for companies to take specific actions including establishing an audacious goal that attracts socially-minded employees and making it a core business objective, keeping employees directly informed on the issues of the day, and giving them a voice."

CEOs are also expected to lead the fight for change. In China, 83 percent of those surveyed say they want CEOs to take the lead on change. The number is much higher than the global number (76 percent), reflecting the Chinese public's strong desire and high expectation on business. 

In addition, 80 percent say believe a company can take actions that both increase profits and improve economic and social conditions in the community where it operates. And 77 percent of employees believe it's critically important for their CEOs to respond to challenges in the era of uncertainty, which is also higher than the global number (71 percent), reflecting people's belief that "my employer" has become a trusted partner for change.

"Chinese companies should equip their CEOs' with the capability to be visible and be aspirational," said Fan Hong, director of National Image Research Center of Tsinghua University. "They should not only tell a good corporate story at the global stage, but also engage directly and cultivate a trusted employer-employee relationship and such relationship may in turn, become a part of their big story."

The survey also reveals that China for a second consecutive year topped the Trust Index among the 27 markets surveyed, with people's trust in institutions jumping five points to 79 among the general public. Furthermore, China's trust scores are leading the world in all four types of key public institutions in the survey.

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