Trust
Trust: The New Workplace Currency Presenter: Nan S. Russell President, MountainWorks Communications LLC
IIBA Professional Development Day April 8, 2015 – Minneapolis | St. Paul 1:00 p.m. – 2:00 p.m. © 2015 Nan S. Russell. All Rights Reserved.
Today’s Overview 1. 2. 3.
What it is; what it isn’t; why it matters Common mistakes that impact trust 5 essential keys to building trust … today
Take Aways 1.
Reduce common mistakes that hold you and those you support back from building trust
2.
Apply essential keys to building workplace trust
3.
Use trust to enable engagement, accountability, and innovation
I think … T or F? 1. 2. 3. 4.
Trust is necessary for employee engagement The opposite of trust is control To get trust you must give it Self-trust is the most neglected form of trust
I think … T or F? 5. 6.
7. 8.
Trust is conditional Communication is one key to building workplace trust Trust is an action The stories told at work can enhance or diminish trust
I think … T or F? Trust doesn’t need to start from the top 10. Trust has bottom-line business impact 9.
The Bottom Line Watson-Wyatt Research 2002 “The three-year total return to shareholders is almost three times lower at companies with low trust levels than companies with high trust levels.”
The Bottom Line Watson-Wyatt Research 2004 “Shareholder returns for organizations with the most effective communication were over 57 percent higher than were returns for firms with less effective communication.”
The Bottom Line Watson-Wyatt Research 2006 “ Engagement is a leading indicator of financial performance. Companies that increase their engagement levels can expect to significantly improve their subsequent financial performance.”
The Bottom Line Gallup Research 2009 •
Chances of employees being engaged at work when they don’t trust the organization’s leaders are just 1 in 12.
•
Chances of employees being engaged at work are better than 1 in 2 if they do trust the organization’s leadership.
The Bottom Line Edelman Trust Barometer 2012 “Official company-issued communicatons are distrusted by workers at all levels. Only 29 percent of executives and 21 percent of employees trust corporate communications.“
The Bottom Line Towers Watson •
The number one trait U.S. and Global workers want in their leaders is trustworthiness.
•
Only 12% of American respondents said their leaders were trustworthy.
You Can See Trust “Win” vs. “Winning”
Culture Behaviors Win
•Some
win - most don’t •Lack of trust •Finger pointing/blaming •Hoarding information •Highly competitive •Withheld extra efforts •Dark side politics •Power and superiority •Aggressive opposition •Opposing others ideas •Safe decision making •Self-preservation/turfs
Winning
•Everyone
can be winning
•Trust •Accountability •Communication •Collaborative •Offer
new ideas •Savvy politics •Support and cooperation •Helpful feedback •Open to influence •Innovation and creativity •Teamwork and growth
What Does Trust “Look Like?”
Authentic Trust 1. 2.
3. 4.
The opposite of trust is mistrust. – T/F? Trust is unconditional. – T/F? It is always good to trust. – T/F? Once trust has been betrayed, it can’t be recovered. – T/F?
Authentic Trust 5.
6. 7.
Trust is what holds relationships and societies together. – T/F? To get trust you must earn it. – T/F? Self-trust is the most neglected form of trust.– T/F?
Authentic Trust? Trust always involves risk. – T/F? 9. Like change, trust must start from the top. – T/F? 10. People are wired to trust. – T/F? 8.
Wired for Trust “Hard as it may be to believe in these days of infectious greed and sabers unsheathed, scientists have discovered that the small, brave act of cooperating with another person, of choosing trust over cynicism, generosity over selfishness, makes the brain light up with quiet joy.” NYT- Emery University Research
What’s It Worth? + 36% or - 36%
-- Behaviors ++ • •
Trust Diminishing Behaviors Trust Enhancing Behaviors
Building Trust Today What Every Professional Needs to Know 1.
2. 4.
5.
Trust doesn’t come with a role; behaviors, not titles, build influence and natural followership If you want passion, engagement, and innovation you need trust People don’t give their best efforts to people they don’t trust The most effective leaders operate with their own Trust Inc.
Trust, Inc. \ noun.\ 1.
2. 3.
4. 5.
A thriving pocket of trust (a.k.a. trustpocket) where passion, engagement, innovation, and great work flourishes. A place where trust currency is made. A work group, requiring no formal approval or permission, that enables authentic trust. A self-created winning culture led by a trusted boss. A business culture operating with sustainable trust currency that regularly pays dividends.
#1 Key Trust Building Go first with trust
#2 Key Trust Building Elevate your communication
#3 Key Trust Building Demonstrate behavioral integrity
#4 Key Trust Building Show up authentically
#5 Key Trust Building Build genuine relationships
The New Currency of Trust “Trust isn’t something we have, or a medium or an atmosphere within which we operate. Trust is something we do, something we make.” ~~Robert Solomon & Fernando Flores
Resources
www.nanrussell.com Twitter: @nan_russell Facebook.com/nansrussell Email: [email protected] © 2015 Nan S. Russell. All Rights Reserved
IIBA Professional Development Day April 8, 2015 – Minneapolis | St. Paul 1:00 p.m. – 2:00 p.m. © 2015 Nan S. Russell. All Rights Reserved.
Today’s Overview 1. 2. 3.
What it is; what it isn’t; why it matters Common mistakes that impact trust 5 essential keys to building trust … today
Take Aways 1.
Reduce common mistakes that hold you and those you support back from building trust
2.
Apply essential keys to building workplace trust
3.
Use trust to enable engagement, accountability, and innovation
I think … T or F? 1. 2. 3. 4.
Trust is necessary for employee engagement The opposite of trust is control To get trust you must give it Self-trust is the most neglected form of trust
I think … T or F? 5. 6.
7. 8.
Trust is conditional Communication is one key to building workplace trust Trust is an action The stories told at work can enhance or diminish trust
I think … T or F? Trust doesn’t need to start from the top 10. Trust has bottom-line business impact 9.
The Bottom Line Watson-Wyatt Research 2002 “The three-year total return to shareholders is almost three times lower at companies with low trust levels than companies with high trust levels.”
The Bottom Line Watson-Wyatt Research 2004 “Shareholder returns for organizations with the most effective communication were over 57 percent higher than were returns for firms with less effective communication.”
The Bottom Line Watson-Wyatt Research 2006 “ Engagement is a leading indicator of financial performance. Companies that increase their engagement levels can expect to significantly improve their subsequent financial performance.”
The Bottom Line Gallup Research 2009 •
Chances of employees being engaged at work when they don’t trust the organization’s leaders are just 1 in 12.
•
Chances of employees being engaged at work are better than 1 in 2 if they do trust the organization’s leadership.
The Bottom Line Edelman Trust Barometer 2012 “Official company-issued communicatons are distrusted by workers at all levels. Only 29 percent of executives and 21 percent of employees trust corporate communications.“
The Bottom Line Towers Watson •
The number one trait U.S. and Global workers want in their leaders is trustworthiness.
•
Only 12% of American respondents said their leaders were trustworthy.
You Can See Trust “Win” vs. “Winning”
Culture Behaviors Win
•Some
win - most don’t •Lack of trust •Finger pointing/blaming •Hoarding information •Highly competitive •Withheld extra efforts •Dark side politics •Power and superiority •Aggressive opposition •Opposing others ideas •Safe decision making •Self-preservation/turfs
Winning
•Everyone
can be winning
•Trust •Accountability •Communication •Collaborative •Offer
new ideas •Savvy politics •Support and cooperation •Helpful feedback •Open to influence •Innovation and creativity •Teamwork and growth
What Does Trust “Look Like?”
Authentic Trust 1. 2.
3. 4.
The opposite of trust is mistrust. – T/F? Trust is unconditional. – T/F? It is always good to trust. – T/F? Once trust has been betrayed, it can’t be recovered. – T/F?
Authentic Trust 5.
6. 7.
Trust is what holds relationships and societies together. – T/F? To get trust you must earn it. – T/F? Self-trust is the most neglected form of trust.– T/F?
Authentic Trust? Trust always involves risk. – T/F? 9. Like change, trust must start from the top. – T/F? 10. People are wired to trust. – T/F? 8.
Wired for Trust “Hard as it may be to believe in these days of infectious greed and sabers unsheathed, scientists have discovered that the small, brave act of cooperating with another person, of choosing trust over cynicism, generosity over selfishness, makes the brain light up with quiet joy.” NYT- Emery University Research
What’s It Worth? + 36% or - 36%
-- Behaviors ++ • •
Trust Diminishing Behaviors Trust Enhancing Behaviors
Building Trust Today What Every Professional Needs to Know 1.
2. 4.
5.
Trust doesn’t come with a role; behaviors, not titles, build influence and natural followership If you want passion, engagement, and innovation you need trust People don’t give their best efforts to people they don’t trust The most effective leaders operate with their own Trust Inc.
Trust, Inc. \ noun.\ 1.
2. 3.
4. 5.
A thriving pocket of trust (a.k.a. trustpocket) where passion, engagement, innovation, and great work flourishes. A place where trust currency is made. A work group, requiring no formal approval or permission, that enables authentic trust. A self-created winning culture led by a trusted boss. A business culture operating with sustainable trust currency that regularly pays dividends.
#1 Key Trust Building Go first with trust
#2 Key Trust Building Elevate your communication
#3 Key Trust Building Demonstrate behavioral integrity
#4 Key Trust Building Show up authentically
#5 Key Trust Building Build genuine relationships
The New Currency of Trust “Trust isn’t something we have, or a medium or an atmosphere within which we operate. Trust is something we do, something we make.” ~~Robert Solomon & Fernando Flores
Resources
www.nanrussell.com Twitter: @nan_russell Facebook.com/nansrussell Email: [email protected] © 2015 Nan S. Russell. All Rights Reserved
