We learn the golden rule as children, “do to others as you would have done to you.” If we all followed the rule, trust and respect would grow. However, many companies try other approaches in their relations, not placing building trust as a priority. Do you think that approaches without trust will help companies in the end? Let’s consider levels of trust, consequences and ways to effectively build trust.
When companies focus on building trust with their employees, clients and partners, they create a system of support behind their business. This system keeps all parties coming back again and again. As trust is built, so is company morale, loyalty, and productivity. As a result, innovation and revenue flourish. A company with trust becomes like a snowball, growing as it rolls in the right direction.
The Consequences of Low Trust
On the other hand, when there is a lack of trust within a company, the exact opposite effect takes place. Employees, clients and partners will become skeptical, problems will arise and stress will result. This causes the costs to increase as tasks take more effort, more time and often more money. A company without trust is more like a person walking on thin ice, with every act of dishonesty adding weight.
How to Build Trust
So as you can see, if a company has a foundation of trust, they are in a much better position to grow a sustainable and successful business. How do leaders go about building this trust? Here are some principles to use as a guide.
Honesty may not always be the easiest policy, but in the grand scheme of things, it is always the best. It requires that leaders do not make empty promises. If people view their leaders as honest people, there will never be a shadow of a doubt when it comes time to pursue directives.
Leaders must build rapport inside, as well as outside, of the company. After all, that rapport is what will strengthen a leader’s reputation and help employees, coworkers, and customers feel a strong base of trust and respect for them and their work.
Leaders need to always put forth their best foot. No matter how rough their morning may start off, they need to get it together for the day, each day. They must respect themselves enough to take pride in what they do and build a name for themselves.
The people leaders are working alongside, whether it be coworkers or customers, like to know that leaders care about them as people. Sincerity speaks volumes about who a leader is as a person, and not only how much they value themselves, but also their value for relationships within the business.
Just as leaders want others to be open and honest with them, they have to do the same in return. Leaders must let the company see that they are real people, who makes mistakes and strive to succeed just as much as the next person.
Being competent is very important. Leaders must go above and beyond and do what it takes to make sure they have the inner knowledge and power to get the job done to the best of their ability.
Leaders must be punctual and always show up for their scheduled shift. No one likes someone who constantly calls in or shows up late day after day. Leaders must be the people that can be counted on to show up a few minutes early. The person that everyone knows will complete an assignment on time and with great skill.
Integrity by definition means to have strong moral principles. If leaders are known as a person of great integrity, trust and respect will follow right behind.
By practicing these principles, and doing so on a consistent basis, leaders can earn the trust of those around them. As a result, their companies can reap the benefits of trust: increased productivity, loyalty, revenues and success.