This shows how important it is to diagnose organizational problems and arrive at the necessary remedies.Ĭlarity is the cornerstone of trust. The strength of the pillars the company did well in couldn’t make up for the weakness in all the others. When one or more of the 8 Pillars is weakened, the structure itself is in danger of collapse. Like the columns of a building, the pillars hold up the entire edifice. The fastest way to go out of business is to lose trust. Trust is the root cause of every issue, and at the end of the day a lack of trust always costs money, whether that lack is costing time, attrition, stress, duplication of efforts, or productivity at first glance. But scratch the surface of all those numbers, take a hard look at what is reflected in the data, and you find trust-or lack of trust-everywhere you look. Scan any company’s balance sheet, and you won’t see any column with the heading of “Trust.” It’s not something we typically think of as having an economic value per se. Just as increased trust can accelerate any business, organization, or relationship, so can mistrust erode, weaken, and ultimately destroy it. Trust is not only your business’s most precious resource but also one of its most fragile. Delivery time and costs decrease because there is less need for double-checking, paperwork, and follow-up. With suppliers whom we trust, one call is enough. With greater trust, customers will pay more, tell others, and return again and again.Every aspect of the business becomes more profitable. They demonstrate loyalty and a commitment to the team and are willing to go the extra mile to ensure success. In a climate of trust, people are more willing to work together, be creative, share information, and stay motivated and productive.When employees trust senior leadership, they offer more ideas and solutions, are better team players, and are significantly more loyal.85 percent say a high-trust environment helps them perform at their best.
More than twelve million Americans have invested $100,000 or more based purely on trusting someone else.Most millennials would take a pay cut if they could trust their leadership.It is rated higher than a raise, good benefits, more autonomy, or a fun work environment. The number one reason people give for wanting to work for an organization is trusted leadership.Here are a few findings from annual research publication, The Trust Outlook: From personal relationships to financial institutions, everything of value is built on trust. Trust is your single most valuable asset.
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