TRUST – The big 3 Questions you need to answer on Trust in your organisation
“58% of CEO’s worry that lack of trust in business could harm their company’s growth”
(RE Moritz, Global Chairman, PWC Int)
- What is the competitive advantage of trust? Why fight for it?
When we trust, we give more and we do more. People listen and have a willingness to follow those that they believe in. If we work in a trusting environment, people can get on with their work, be more productive and focus on what’s really important. If we don’t trust, we create a blame culture, where people get drawn into ‘them and us’ debates and get distracted by negative emotions. You can feel trust in a team, it’s a positive, confident energy. As a leader in your business, ask yourself how trusted are you?
- What can leaders do to foster trust in an organisation?
As a leader in business, communicate, communicate and communicate some more! Ensure people understand the big picture of the organisation, the vision behind it and the reasons why. Working groups need to be collaborative and inclusive at every level to ensure people understand what is going on & who is responsible for what. People want to feel valued and that they contribute and make a difference to the company goals. They need to believe in the purpose of where the organisation is going. If things change, let people know as and when things change, not after the event. Open, transparent dialogue is essential when building trust… ‘walk the walk… talk the talk’
- How can we improve or demonstrate our own trustworthiness? (show others we are a person who can be trusted)
Do what you say you said you would do! If you get things wrong, own up and tell people, ‘you made a mistake’. Be a safe pair of hands, approachable, honest and people will trust you. Ensure, it works both ways, listen to understand, connect with people at all levels and demonstrate that you do believe in what you are talking about. Rapport and building strong sustainable relationships is essential across all levels of business to help build trustworthiness. Be sincere in your approach and really care about others and the part they play.
According to PWC, being Trustworthy:
- Drives performance
- Helps overcome stakeholders scepticism
- Puts an organisation on the front foot in times of crisis
- Allows organisations to be true to themselves