Tuesday, 26 January 2010

Who do you TRUST?

The United Kingdom, and much of the rest of the world, entered a period of economic turmoil in the last couple of years of the old decade. We witnessed the collapse of some businesses (and the rescue of others) as well as governments wobbling! This new decade may well be defined by the trust equation.
Many people have become distrustful of
- Financial services , who got us in this mess
- Governments and Regulators , what were they doing
- Some companies ,who resorted to old style “slash and burn” employee tactics
It’s not all doom and gloom though! We can see stock markets rise, the level of UK unemployment is not as high as expected, some companies used creative ways to retain staff and recruitment has restarted.
According to Stephen M R Covey how much we trust our government, companies and friends has a direct impact on performance. Re –building trust therefore should be an imperative at all levels of our society. This doesn’t mean uncritical trust (otherwise known as gullibility) but rather “smart trust” where a propensity to trust is matched by experience and analysis.
With a General Election looming we are likely to elect those people/parties that we most believe (trust ) will do what is right for the country and us! To undertake any interaction with financial institutions we will want convincing (trust) that our money is safe! With our actual and psychological contract with employers we want to know (trust) how they will treat us during both good and bad times! One of the single biggest reasons for leaving a company is not trusting your boss.
In “ The Speed of Trust “Covey outlines 13 Behaviours that are necessary to build a relationship of trust. These are
Talk straight, demonstrate respect, create transparency, right wrongs, show loyalty, deliver results, get better, confront reality, clarify expectations, practice accountability, listen first, keep commitments and extend trust.
So you could use this framework to
- Decide who to vote for
- Decide who to work for
- Implement changes in your own company
- Become a trustworthy individual!
Be the behaviour you want to see and enjoy the new decade!