Trust is the firm belief in the reliability,
truth, ability, or strength of someone or something.
Trust in an intangible
concept that takes years to build up and moments to lose. Relationships,
personal or professional, are successful only when they operate on trust. Trust
is becoming more and more critical and is an absolute must with clients,
customers, employees and other stakeholders.
Big problem in business today
Building trust is a big problem in
business today. But studies show that trust is the foundation for a healthy
workplace and is necessary for employee happiness, motivation and retention.
This leads to higher productivity and hence bigger profits for the company.
According to trust expert Arky Ciancutti, “An organization in which people can
earn each other’s trust, and that commands trust from the public, has a
competitive advantage.” Earning trust from customers is key to better sales and
a better reputation for the organization.
Trust is required when negotiating
business deals – this is in addition to diplomacy and an understanding of the
business and the deal. Unless every step is accompanies by trust, it is not
possible to create strong business relationships or make for higher
productivity and better performance.
Increasing
expectation from customers
Trust
is prominently increasing expectation from customers. The importance of trust
within a company is equally immeasurable. For example, a trusting workplace
environment tends to breed more motivated and confident employees, which, as
every good employer is aware, usually results in increased productivity.
The three main ways to build trust
in an organization are
·
Communication –
consistent, meaningful, effective communication within the team
·
Collaboration –
to share ideas without being worried that somebody else will take credit for
it; a team that shares and collaborates is more enthused, more involved and engaged,
more bonded together.
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