Trust and Profit
Trust and Profit
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.
Trust and Profit - To learn more about this author, visit Patti D. Hill's Website.
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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.
Trust and Profit - To learn more about this author, visit Patti D. Hill's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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