Building a culture of trust makes a meaningful, measurable difference to companies and yet, according to PwC’s 2016 global CEO survey, 55% of CEOs think that a lack of trust is a threat to their organisation’s growth.
There is also nothing soft or altruistic about it; creating trust is a major driver of exceptional productivity and efficiency. There is also nothing easy about it. To create a culture built on trust requires a conscious and courageous choice for senior management, backed up by consistent and sustained focus.
We’ve pulled together five of our favourite articles on trust to help and inspire.
Roderick Kramer argues that human beings are naturally predisposed to trust – it’s in our genes and our childhood learning – and by and large it’s a survival mechanism that has served our species well. That said, our willingness to trust often gets us into trouble. So why do we trust so readily, why do we sometimes trust poorly, and what can we do about it?
Paul J Zak has been researching the relationship between trust and economic performance since 2001, both mathematically and behaviourally, and his article for HBR summarises the last ten years of neurological research as well as identifying eight management behaviours that build trust.
Corporate Rebels tell the story of a remarkable organisation that is challenging the status quo of how work in Poland (and in the world) is organised. They show once again that giving employees lots of freedom, trust, and responsibility can lead to amazing things. And, as if that wasn’t enough, they introduce us to the idea of the company wallet.
Shortly before the end of the second World War, Fortune published a statement by a forward-looking group of American CEOs called ‘A Framework for a Postwar Economy’. The third sentence began “The Economic System is a tool for achieving the common good….”. Profitability without advancing the common good was failure. Today’s social and economic context is, once again, forcing business leaders to rethink what they were taught about the purpose of business. And CEOs need to talk about their company’s purpose – not just as a philosophy, but as a strategic tool that helps guide business choices.
70% of Americans hate their job. A terrifying 19% admit to actively sabotaging their employer. How can we turn this around and start to build the high trust cultures that will enable entrepreneurial teams and businesses to prosper in a volatile and ambiguous world? Trust engages and emboldens talent, fosters ideas and innovation and attracts customers. And trust starts with the individual and their willingness to take responsibility.