As Donald Trump is discovering behaviours and actions have to match the words use! We know why Donald Trump is focussing on trust – trust makes the difference – not just in politics but in business too.
The 2016 Edelman Trust Barometer* revealed that only 57% of UK employees trust the company for which they work. A recent global survey by EY** found that only 46% of employees place ‘a great deal of trust’ in their employers; the results are even lower for Generation X employees at 41%. These stats would concern any business leader. Not only is trust the bedrock for creating great places to work where employees are engaged, creative and committed, it has a direct impact on productivity. High trust organisations are also high performing organisations often outperforming low trust companies by nearly 300%**!
What generates trust? Demonstrating respect is key; according to the Quality of Life@ Work study, employees who feel their leaders treat them with respect are 63% more satisfied with their jobs, 55% more engaged/more focused and 110% more likely to stay with their organisation.
Fostering connection – almost 8 in10* say that hearing information about personal values is important to building trust in a leader. The expectation is for leaders to share their personal stories as well as explaining what they want to achieve for the business and why. Employees want to hear about the obstacles a CEO has overcome, their personal successes and how their education has shaped them.
Delivering results – as a leader the more you keep your word and demonstrate your own capability, the more overall trust and confidence is inspired. Financial results are important but societal impact is also key; employees want to see their organisations contributing to the greater good*.
So, inspiring trust clearly does make the difference.
The good news, as Stephen Covey explains ‘is contrary to what most people believe, trust is not some soft, illusive quality that you either have or you don’t: rather, trust is a pragmatic, tangible, actionable asset that you can create.” It may be too late for Donald Trump to create the level of trust he needs to win the presidential election, but if you adopt both the behaviours and actions that enable people to trust you as a leader, greater success will be achieved – for you, your teams and your organisation.
If you want to find out more about inspiring trust in leadership, try reading The Speed of Trust: the One thing that Changes Everything by Stephen M R Covey.
* Source: 2016 Edelman Trust Barometer
** Source: Harvard Business Review: A Global Survey on the Ambiguous State of Employee Trust by Karyn Twaronite July 2016