Trust: The Hidden Driver of Business Performance (Copy)
“I just can’t trust them to take on that assignment.”
“I feel like the leadership team doesn’t really trust one another.”
I often hear comments like these when talking to senior leaders. Chances are, you’ve made comments like this yourself and heard them from colleagues.
That’s because trust is one of the most difficult workplace topics to understand and one of the most important to influence. It’s often a hidden driver of the performance of your business.
Data from Fortune 100 Best Companies to Work For surveys shows that companies with high-trust cultures experience revenue growth that is three times the rate of companies with low-trust cultures.
The same survey shows that revenue per employee (RPE) at high-trust companies is eight times the US market average.
Just think about the last low-trust team you worked on. Chances are, employee productivity, retention, decision making and innovation all lagged as a result.
We know that trust is important. It’s also incredibly difficult to manage because it is multi-faceted, based on perception, and needs to flow both ways.
Most frameworks show at least four elements that impact trust. These often include competence, integrity, reliability and caring. Leaders commenting on trust may be talking about any one of these four elements. It can be confusing.
There are different perceptions about what trustworthy behavior looks like, and how to earn trust. Some leaders make you earn trust. Others assume the best until you prove to be untrustworthy.
A trusting relationship flows two ways, and the levels of trust won’t always line up equally. Trust isn’t automatically reciprocated.
The first time I saw a framework that systematically broke down the elements of trust, I was a new manager in HR. It was a game changer for me. I now had the tools to diagnose trust issues and recommend ways to build or repair it.
Today, I use a variety of trust models when I’m coaching clients and facilitating leadership workshops. My clients use the frameworks to find new clarity around:
The current leadership behaviors that help build trust and the ones that break thrust down.
Diagnosing which element of trust are in jeopardy and the specific actions to help build or repair them.
Pinpointing what behaviors are currently supporting trust and making a plan to nurture and sustain them.
If your team is experiencing low trust, you can start by assessing some of the common issues.
Does your team have a habit of talking behind each other’s backs? Giving feedback directly where it belongs is important for building trust.
Does your team know each other on a personal level? Establishing a basic level of personal caring is critical for trust. This requires taking time to get to know each other as individuals.
Does your team feel that they can rely on each other to deliver? Consistently meeting deadlines and honoring commitments is an important part of creating trust.
How are you currently contributing to high trust in your team? What could you be doing personally to build trust? Reach out for more insights and guidance!
