Successful Workspaces: “What’s Trust Got to Do With It — Got to Do With It?”
A recent article by New York Times Bestsellers’ List authors Stephen M. R. Covey and Douglas R. Conant makes a resounding case for emphasizing trust in employment relationships. They posit a common sense idea that many organizational disputes come down to a lack of trust, saying “most organizational performance issues are actually trust issues in disguise.”
According to this Harvard Business Review article, too many business cultures view trust as a “soft skill” that is less valuable than performance. Solid social research reveals, however, that the topmost trustworthy organizations tend to outperform the S&P 500, resulting in nearly 3X the results as compared with similar organizations that do not promote trust among workers. Covey and Conant cite a 2015 study called Building Workplace Trust: Trends and High Performance, which shows that high-trust companies are 2.5X more likely to be high revenue companies as well. Fox News, take note!
With such a clear connection drawn between trust and performance, it is obvious that all organizations should prioritize creating a culture of trust, yet few do. Thankfully, according to Covey and Conant, most organizations could imbue and implement higher trust principles in the workplace — if they so desire. They provide three pillars of organizational trust-building, as follows:
- Declare intent – Leaders create a clear record about why they are doing what they are doing, choose courses of action with mutual benefits for leadership and labor, and do what they say by keeping their word.
- Demonstrate respect – Leaders repeatedly show, not just say, their respect for what others in the organization bring to the table in terms of contributions and feedback.
- Deliver results – This means doing what you say, consistently, with confidence, for the right reasons, and showing your passion and purpose for the actions taken — beyond just tasks completed.
Covey and Conant conclude that a decline in trust provably and directly leads to a loss of effectiveness and an increase in costs. The exact opposite is true too: “when trust goes up, cost goes down, and speed goes up.” Great organizations reap dividends from building a high-trust culture.
Too many companies do not have a culture of trust, which can often lead to workplace discrimination, hostility, and retaliation, all of which harm employees. New Jersey law provides protection for employees facing such challenges. If you are facing a crisis or concern about workplace misconduct, you should get immediate advice from experienced employment law attorneys for workers.
At Hanan M. Isaacs, P.C., we provide our clients with compassionate counsel and tough advocacy. Call us at 609-683-7400, or contact us online, for a near-term initial consultation — at a reduced rate — in our Central Jersey offices. We will listen to your facts, educate you about the law, and recommend the best course of action for you. Call today. You will be glad you did.