FleishmanHillard Releases U.S. ‘License to Lead’ Report, Revealing Sharp Confidence Gap Between Executives and Stakeholders 

New U.S. findings show stakeholder confidence and leadership credibility increasingly shape how much latitude companies have to adapt, as engaged consumers express deeper pessimism than global peers.

As political volatility, shifting regulation, technological acceleration and economic pressure reshape the U.S. business landscape, new U.S. research from FleishmanHillard finds that the central leadership challenge is no longer simply setting strategy. It is maintaining the confidence and permission needed to execute when strategies must evolve.

While stakeholders recognize the need for companies to adapt, they are far less willing to tolerate poorly explained or inconsistent change. As multiple major forces converge — the 2026 midterms, AI-driven workforce realignment, intensifying geopolitical competition and economic fragmentation — the conditions for a reckoning are becoming clear, and many companies are not prepared.

“Uncertainty is no longer episodic. It is the operating environment,” said Rachel Catanach, Senior Partner and Global Managing Director, Corporate Affairs. “What this research shows is that stakeholders understand why companies need to adapt. But in the U.S., the bar is even higher for how leaders communicate, align and explain those decisions.”

The report, titled “License to Lead: Escaping the Pendulum — Building a Durable Strategy in Turbulent Times,” is based on U.S. findings from FleishmanHillard’s global survey of 5,550 respondents, including a U.S. sample of 800 engaged consumers, 350 executives and 40 policy stakeholders, executed by FleishmanHillard’s TRUE Global Intelligence. The findings reveal a sharper U.S. gap between how leaders assess their own performance and how stakeholders experience corporate leadership during periods of change.

Even well-founded pivots can erode confidence when they appear disconnected from a durable direction. Escaping cyclical swings requires leaders to anchor change in clear, durable principles, visible alignment and a consistent explanation of why the path is evolving.

“When change is constant, stakeholder support is built through how leaders explain decisions, align internally and show accountability in real time,” said Michael Moroney, Senior Partner and Managing Director, Corporate Affairs, The Americas. “The U.S. data shows that consumers are not rejecting change. They are rejecting whiplash, poorly explained pivots, inconsistent messages and gaps between what companies say and what they do.”

Key findings include:

Unpredictability is more pronounced in the U.S., and adaptability is viewed as a defining leadership skill. Eighty-seven percent of U.S. engaged consumers agree that the business environment is more unpredictable and disruptive than it was three years ago, and 45% strongly agree — outpacing the global engaged consumer average of 32% who strongly agree. Half of U.S. engaged consumers say the ability to adapt quickly will matter most for business leaders’ success over the next decade.

Stakeholders accept strategic change, but expectations of leadership behavior have risen. U.S. engaged consumers recognize the challenging dynamics business leaders face, but they expect change to be explained and grounded in consistent leadership behavior. Ninety-eight percent say it is important for companies to explain why a decision is made, and 49% say inconsistent or conflicting messages from company leadership greatly decrease their confidence.

Executives and stakeholders view corporate readiness very differently. U.S. executives and policy stakeholders are far more optimistic than engaged consumers about large companies’ ability to lead through disruption. Fifty-two percent of U.S. executives and 50% of U.S. policy stakeholders are very optimistic that leaders of large companies will address major challenges in the next decade, compared with just 11% of U.S. engaged consumers. Only 10% of U.S. engaged consumers have “a lot” of confidence that large corporate leaders will act in the best interest of society, compared with 49% of U.S. executives.

Erosion of confidence has direct commercial consequences. U.S. engaged consumers are more likely than the global average to react with their wallets when confidence is lost. In the past 12 months, after a company’s action caused them to lose confidence, 64% stopped buying or significantly reduced spending, 49% switched to a competitor, 46% privately advised friends or family against the company and 26% publicly criticized the company.

Integrity and accountability now outweigh competence alone. When things go wrong, U.S. engaged consumers are more likely than global consumers to prioritize integrity, honesty and accountability over competence in their business leaders. Eighty-three percent say integrity and honesty are very important for earning their confidence, while 82% emphasize the importance of accountability when things go wrong. In contrast, only 73% cite competence and decision quality as critical. Demonstrated ethical behavior is the top factor U.S. engaged consumers say gives a company the right to lead during uncertainty.

A New Executive Playbook

The findings point to a leadership model that is both urgently needed and largely within organizations’ control. Companies that retain the confidence to move through uncertainty simplify their strategic narrative, enforce leadership alignment, communicate consistently and with integrity, explain the rationale behind difficult decisions and engage stakeholders without relying on broad or aspirational shortcuts.

“When these conditions are met, reputation becomes an enabling force rather than a constraint,” said Catanach. “Stakeholders are more willing to grant leaders the latitude to adapt, absorb uncertainty and continue moving forward even when outcomes are not fully known.”

The research also underscores the evolving role of corporate affairs as an integrated leadership infrastructure. High-performing organizations rely on corporate affairs to translate complexity into clarity, anticipate friction and understand where stakeholders will grant flexibility and where limits remain.

As disruption becomes an enduring condition rather than a temporary shock, the study concludes that leadership success will depend less on minimizing change and more on sustaining legitimacy while managing it.

About the Research

The “License to Lead” study was conducted by FleishmanHillard’s Global Executive Advisory and TRUE Global Intelligence teams. The global survey includes 5,550 respondents across 15 markets, comparing the perspectives of 1,550 business and political leaders and 4,000 engaged consumers. The U.S. edition draws on responses from 800 engaged consumers, 350 executives and 40 policy stakeholders.

About FleishmanHillard

FleishmanHillard is a global strategic communications consultancy combining corporate affairs and brand impact expertise at scale. Following the integration of Porter Novelli, FH now serves clients across health and life sciences, technology, financial services, retail and consumer, food and agriculture, manufacturing and energy and government and public sector. The firm’s competitive advantage combines deep sector expertise with proprietary intelligence (TRUE Global Intelligence), the industry’s leading data and AI infrastructure, and Global Executive Advisory, a strategic network of over 50 senior advisers who help C-suite leaders navigate complex situations and transformative change. FleishmanHillard was named PRovoke Media’s Data-Driven Agency of the Year 2026, the 2023 PRWeek U.S. Agency of the Year; 2022 and 2023 PRWeek U.S. Outstanding Extra-Large Agency of the Year; and 2023 Campaign US PR Agency of the Year. FleishmanHillard is part of Omnicom Public Relations.