Trust is crucial for a business’s continued success. As more and more of the workforce shifts away from menial tasks and toward knowledge-based work, employers will be increasingly expected to treat their workers with trust and respect. And we cannot forget the upcoming workforce generation.

1. Taking Your Employees on Trust: How
to Develop a High-Trust Business
Culture
What place does trust have in your
business culture? Do you trust your
employees with freedom and
flexibility in their working
environment, or do you believe that
any leeway encourages them to take
advantage of your business? Many
companies strictly regulate their
employees, but this often drives
employees to act exactly as the
employer expects – which is, unmotivated and unscrupulous.
On the flip side, high-trust companies often enjoy driven employees, high
retention rates, and high financial returns. According to a study by Russell
Investment Group, Fortune’s 100 Best Companies to Work for in America,
which are characterized largely by their high-trust business cultures, earned
twice the returns of the general market between 1998 and 2010. The Best
Companies also had half the turnover rate of the general population and
received twice the number of applications for open positions.
How do high-trust employee relationships translate into these hard returns?
When employees feel like they are trusted, they are more likely to be
engaged in their work, offer ideas and insights, and collaborate with
coworkers on projects. Additionally, having a high-trust business culture
leaves a good impression on suppliers, customers and prospects.
Read on to gain some easy steps to foster transparency, respect, and work
flexibility in your business.

2. Transparency
Transparency in the workplace should be the default. Employees should be
kept informed of pay levels, leadership decisions, and the overall state of the
company. Employers might be hesitant share the ups and especially the
downs of the company with their entire workforce, but informed employees
are more likely to be personally invested in the success of the company and
be willing to buckle down during a downturn. In my company, I make
financial data available to any employee who wants to take a look.
Several studies bear out my philosophy. In a recent survey by Deloitte, 48%
of executives believe that a lack of transparency in communication will lead
to higher turnover rates. Additionally, the Public Relations Society of
America found a direct link between organizational transparency and
employee trust. Employees who are kept in the loop are more likely to feel
like partners in your business – and that’s a good thing.
Respect
Too often businesses treat their employees as dependent workers who
should be grateful for employment. At my company, I recognize that my
employees are volunteers who could easily find employment elsewhere.
Businesses should treat their employees as responsible adults who want to
do a good job – and most of the time, employees will prove them right.
One of Google’s hiring practices is: “Hire people who are smarter and more
knowledgeable than you are.” Google believes that employees should be a
source of insight and ideas for the company – and they are one of the most
successful companies in the world. Instead of developing a workplace
structure with rigid divisions between departments, encourage fluid and
collaborative thinking across the entire workplace. And when an employee
offers a great idea, implement it!
Work Flexibility
Many low-trust organizations impose strict office hours enforced by badge
swiping. I’ve even heard of badges that won’t allow employees to enter the
building at 7:59 am, to ensure they won’t accrue even a minute of overtime.
In this heavily regulated environment, employers often lose money through
employee retaliative measures, such as buddy punching.

3. At the other end of the spectrum, high-trust companies are allowing
employees to work when and where they want. The Citrix Workplace of the
Future survey found that 24% of global companies allow their employees to
work at times and locations of their choosing. This sort of flexibility
eliminates commuting costs and promotes a better work/life balance for
employees – and in turn, employees trust and appreciate their employers
more.
Of course, high trust doesn’t mean that you should throw structure
completely out of the window; employees can’t perform well if they don’t
know how to perform. Businesses should invest in flexible, integrated
software that tracks project progress and work costs across the whole of
their workforce.
Trust is crucial for a business’s continued success. As more and more of the
workforce shifts away from menial tasks and toward knowledge-based work,
employers will be increasingly expected to treat their workers with trust and
respect. And we cannot forget the upcoming workforce generation.
Generation Y is notorious for wanting to be able to work when, where, and
how they want. So, moving forward, trust is going to become a necessity.
Reference: http://bit.ly/17oIawa