I’m so excited about our upcoming Trust Conference and judging by all the early bird bookings and sponsors joining us, many of you are too.
So, why is Trust important?
Well, frankly, the most trusted companies today are being the most successful.
They are out performing their competitors by as much as 10 times…
In a Watson Wyatt 2002 study, high-trust organizations outperformed low-trust organizations in total return to shareholders by 286 percent
As if that’s not exciting enough…
When Trust is consistently high, productivity speeds up, people feel more empowered and make better decisions. Accuracy levels increase. Absence decreases, turnover decreases. People have more fun and feel more connected to the organisation and team.
Consequently, the company performs at a much higher level, consistently.
We know from our experience, clients who have accelerated levels of Trust in their organisations, go on to create results that have as much as doubled their revenues and profits. We hear of teams being told to go home in the evening, they are so engrossed in what they are doing, they didn’t notice how the time flew by!
“Trust always affects two measurable outcomes – speed and cost. When trust goes down, speed goes down and cost goes up. This creates a Trust Tax™. When trust goes up, speed goes up and cost goes down. This creates a Trust Dividend™. It’s that simple, that predictable” Stephen MR Covey
Is Trust simply a buzz word that companies are banding about today?
Anyone who thinks Trust is simply a buzz word or an HR fad, is unfortunately missing the point.
Richard Barrett of the international Values Centre, asserts, that of all values, Trust is the most important to build internal cohesion of a high performance team
How do you know if you have high Trust?
High Trust is a measure that you are delivering Value consistently to your market or team. As you would expect, we have a series of sophisticated tools that we use to measure Trust with our clients. However, you can already have a Trust ‘litmus measure’ based on what your customers/colleagues are saying.
The most Trusted companies are the ones that have clients returning time and again to purchase thier products or services over and over because they are delivering Value consistently.
Apple has people sleeping on streets overnight to get hold of their latest product. Apple customers have such high levels of Trust in the organisation, they will pre-order the latest product without even seeing it first. This is because Apple focus on the best way they can deliver Value through being consistently innovative.
The most trusted individuals in a team are the ones who are consistently delivering value to their colleagues in a way that it can be leveraged effectively.
An example of this would be a Creator who creates visionary strategies for the business unit, that are scalable and sustainable. Creating exciting new products and services that consumers want and need.
Or an Accumulator that ensures all the projects and processes are delivered on time and in the most effecient and timely way possible. Checking all the information and research to make sure the overall plan of action is the most risk averse and water tight.
Wherever you deliver Value consistently, as an individual, a team or an organisation, you will see you can build Trust and you will continue to have a place in the market or the team/organisation.
Can you improve the Trust levels?
Absolutely!
“The process of building trust is an interesting one, but it begins with yourself, with what I call self trust, and with your own credibility, your own trustworthiness. If you think about it, it’s hard to establish trust with others if you can’t trust yourself.” Stephen M.R. Covey
Trust is established and grown when:
- You say what you are going to do
- It is seen to be of value by someone else (a team member or customer)
- You do what you said you would do, really well and consistently.
If you want to build more Trust, then focus at delivering more Value consistently.
The notion that once trust is gone, its gone forever is simply not true. If you follow the same principles, you can re-build trust by consistently delivering Value. It may take longer but its not gone forever!
Find out how to build Trust in your Business
If you want to know more about building Trust in your business, join us at the Trust Conference in London on September 10th. Early bird tickets still available.
