2. Facts about trust in business
• 50% of employees don’t trust their executives (leadership teams)
Blessing White (2010)
• 48% of people looking for a new job cite loss of trust in their
organisationas the key reason for wanting to leave.
• 46% specifically identify lack of transparency as a key issue
• 40% being treated unfairly or unethically
• 36% of employees feel trust has decreased since beginning of
downturn
Deloitte workplace survey (2010)
3. Trust destroyers vs. builders
• Self-interest • Interest of others
• Inconsistency • Do as you say
• Spin VS • Tell the truth
• Injustice • Same rules apply
• Incompetence • Deliver
• Unethical acts • Moral compass
4. Why should we care?
Impact on business…
Engagement:
• Trust is directly related to engagement, the more trust, the more engaged
Blessing White (2010)
Absenteeism:
• Employees who distrust their leaders are 7 times more likely to report
they are physically or mentally unwell and four times more likely to leave
Kenexa work trends report (2012)
Trust and bottom line results:
• Tracking 100 Best Companies over 10 year period, those companies
outperformed the stock index, posting annual returns of 11% vs. 4.5%
Amy Lyman (2003/2012)
5. External…
Customers:
• 75% of consumers will actively avoid buying from an
organisation they distrust and 85% will go out of their way and
pay more to buy from a company they trust
- Edelman trust barometer 2012
6. Low & high trust
Low:
• Secrecy, defensiveness, territorial behaviour, fear of speaking out
• Unfair performance management/remuneration, failure to deal with
key issues or concerns
High:
• Clarity: Strong sense of shared purpose and customer focus
• Commitments: High levels of engagement and team work to support
that purpose
• Collaboration: Tolerance and cooperationarehighly valued
• Coach: Leaders coach rather than simply manage
• Connection: Stronger relationships between management and team
members
8. Why?
• Elevated status = less dependent = less connected = less
empathic = less compassionate
• Majority – not just a few
• Instrumental in ‘moral & trustworthy’ behaviour
• Reluctance in leaders to engage = goes unchecked
• Perpetuating and detrimental consequences
9. What can we do about it?
Placing trust, integrity and sustainability firmly on the agenda
Lady Susan Rice, MD Lloyds Banking Group
The future of financial services
Recapturing trust and integrity
Away from:
Capital – competition – compensation - controls
Towards:
Customers – colleagues – community – conscience - care
Customers, employees, social media
Clients taking conscious action
