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Trust and Profit
Written by: Patti D. HillArticle Overview: It should be a surprise to no one that trust is the foundation of a harmonious, synergistic and efficient work environment.
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Free Download - Public relations still has clout. Lots of it! By Patti D. Hill |
Trust and Profit
I read recently that employees who trust their management team deliver 108% value to their share holders. Employees who do not trust their senior executives only deliver 66% back to their share holders.
Is it really a surprise to anyone that trust is the foundation of a harmonious, synergistic and efficient work environment!?
NO – but building trust in the workforce isn’t so easy for some. It should be, but it’s not. First of all, *it* rolls down hill - which means that it all starts at the top.
It’s close to impossible to trust in a person or management team whose actions are inconsistent and unpredictable. This generates a work environment that’s fraught with secrecy, internal competitiveness, and political partisanship. I can only hope that no one has to experience an environment where it feels more important to protect your butt then getting results or serving the customer. (~shudder~)
Trustfulness - and trustworthiness - can exist only if top management sets the example through predictability, caring, and faithfulness. When an executive’s behavior is consistent over time and others can reasonably predict that behavior, trust is built.
The fundamentals of building trust are simple, but can only be accomplished over time and with sincerity.
Keep promises
Tell the truth
Communicate openly
Consider all employees equal partners
Focus on shared, rather than personal goals
Do what's right, regardless of personal risk
Is it me, or are these no brainers? They may sound a bit like Sunday school rules – as they should. These are the basic guidelines of virtue.
In business, being virtuous can equate to profits. I want to take example from a few of our most successful business leaders: Henry Ford, Lee Iacocca and Jack Welch. They built trust among their peers and subordinates, and it was this that spurred success and greatness for their companies.
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About the Author: Patti D. Hill RSS for Patti's articles - Visit Patti's website  Prior to Penman, Patti was the founding partner of BlabberMouth PR and its subsidiary, CameronWeeks Public Relations, where she managed the development and implementation of regional, national and international media / relations and communications campaigns for companies in a multitude of industries. Patti's early professional career includes more than 15 years of corporate management in sales and marketing in technology certification training, IP and data networking training and consulting, and videoconferencing with Prosoft Training, Spohn & Associates and VTEL. Patti is an active in several professional organizations, including International Economic Development Council, NanoExpress (Editor), Nanotechnology Now (Columnist), Nanomaterials Applications Center at Texas State (Founding Member), Nanotechnology Research Foundation (Founding Strategic Advisor), Texas-Israel Chamber and The McKinsey Quarterly (Executive Panel). Click here to visit Patti's website   What the Heck is Public Relations Anyway Marketing HighTech Careers to Yers Trust and Profit PR the Startup Choose It and Use It An Executives Guide to Selecting and Using Outstanding PR |
Related Forum Posts
Re: Essential Leadership skills
- Vigilance
Trust
An ability to DELEGATE
Which kind of industries are you interested in?
- Ecological or E-business or Investment or Finance or Management or Non-Profit or Retailer or others.
More Profit Women!
- I really enjoyed the stories of Lisa Shepherd and Julie Mitchell - More Profit women CEOs would be great!
A ton of Great Women
- You might want to profile Teresa Cascioli of LakePort Brewery. She has an amazing story! I met her at at the celebratory luncheon for the Profit/Chatelaine Top 100 Women Business Owners. The Top 100 list is also a great resource for inspirational stories of Women Entrepreneurs.
profit line
- I recommended Profit Line to one of my clients and they were not 100% satisfied with the service. Apparently one of the profit line people got a parking ticket while serving my client and then charged them for it.
I haven't heard the other side of the story yet but the fact that I recommended them and it didn't work out makes me reluctant to recommend them again.
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