Trust is an undervalued resource in organisations. Most organisations take it for granted, and don’t have an intentional program to develop and nurture it. However, the business advantages of fostering a culture of trust are immense. In a recent article in Governance Directions (read it here), authors Vinay Goswami and Erick Fibich note the following about how trust enhances what employees do:
- They put their best foot forward
- They work efficiently together
- Work towards a common goal
- Think outside the box
- Support each other’s back
- Communicate with transparency, openness and honesty
Conversely, when trust is absent, employees will jockey for positions, hold back information and play it safe. They also tend to become more withdraw and disengaged, with confidence among the team eroding, as does commitment to the organisation.
Essentially, as the authors note, trust builds the bridge between the business need for results, and the human need for connection.
Interestingly, the article makes the strong point that “rebuilding trust takes far more effort, time and resources than it does to initially build and maintain it in the first place.” Which begs the question, why don’t organisations invest more into building a culture of trust?
The authors propose four area in which to build and maintain trust, and the short time it takes to read further about these is time well spent, but in short point form, these are:
- Understand the need to build trust with the team
- Understand the theories of trust and apply what is right for the environment
- Use a framework to structure you approaches to maintain trust
- Deploy feedback mechanisms to repair/sustain trust
Taken for granted, trust in your organisation can soon disappear, leaving a disgruntled, disengaged and uncommitted workforce. However, investing time and resources in building and maintaining trust can see your organisation succeed. And the Avondale Business School is here to help you with your success. Simply contact Warrick Long at [email protected] to find out how.