Building Trust October 27, 2007Posted by rickbron in Bronder On People, Building trust.
More profit! A 2002 Watson Wyatt survey showed that companies where trust in the leadership was high had three times the total return of companies where trust in leadership was low. The Big Dogz know that trust is the biggest key to their success. It is amazing but true that less than 2 out of 5 employees trust their leadership. This lack of trust translates into significant negative impact on the bottom line. So, what are some of the benefits associated with high trust?
- Multiplies creativity
- Saves time and energy
- Higher productivity
- Less turnover
- More initiative
- Higher growth
- More revenue
Trust is not a one time event; it is a series of actions over time that creates a foundation where people can take risks with you. What are some of the risks that people could take with you?
- Ask you for help when they need it
- Tell you the “real” status of a project
- Give you ideas to improve your business
- Provide feedback to you on your performance as a leader
- Inform you of danger in your proposals
Without trust in your leadership, people will not take these risks with you. You can build trust in your leadership by engaging in specific actions. Here are a few:
- Make solid decisions that help the company and people
- Communicate effectively
- Adopt ideas from your people
- Provide honest feedback
- Keep your promises
- Apologize when you hurt someone
- Ask for help when you need it
These actions sound simple, and they are! However, building trust is not easy. It takes focus, commitment and practice. We all know what we need to do to create trust, but we don’t always do it.
Take the attached self assessment about how you are building trust in your leadership. Use the self assessment to help you focus on and practice effective trust building actions. Make sure calibrate this self assessment. See my post on self assessments. https://growingmybusiness.wordpress.com/category/self-assessments/