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Building and Maintaining Trust
Transcript of Building and Maintaining Trust
Stephen Covey referred to this process as "The Emotional Bank Account" (EBA)
What is the most powerful driver of personal and business change and the foundation for employee engagement
Trust is a bit like oxygen; when it is available, things run smoothly and you hardly notice it, but when you remove it, you can’t get anything done
At its most basic level, trust is the
people have that others will act in their best interest, never knowingly committing actions that might harm them.
What is it that creates trust between individuals/organisations and builds your "Trust Fund"?
The State We Are In
"The feral beast"
Coulson & McBride
Exploitation of Children
University of East Anglia
Big Pharma & Drug Trials
Fake Blood Capsules
Social Work ("Baby Peter")
Broken Promises (Kraft)
Relevance of Trade Unions
CIPD, "Where has all the trust gone?" (March 2012)
Robert C Solomon & Fernando Flores "Building Trust in Business, Politics, Relationships & Life (2003) - Suggest that trust is a skill which must be improved by integrity underpinned by good communications"
Onora O'Neill: A Question of Trust: Reith Lecture (2002) What does trust mean in practice and how are organisations held accountable? - http://www.bbc.co.uk/programmes/p00gpzc5
Barbara Misztal "Trust in Modern Societies (1996) - How trust creates a sense of community and makes it easier for people to work together
Francis Fukuyama "Trust: The Social Virtues and the Creation of Prosperity (1995) - How levels of trust have affected economic performance
Understanding how the pre-frontal cortex of the brain works provides clues on how trust can be built & maintained
Which is the foundation for....
So What To Do?
Areas to focus on
1. Self Trust
2. Relationship Trust
3. Organisational Trust
4. Market Trust
5. Societal Trust
Do I trust myself?
Am I someone others can trust?
Behaviours for Creating
If you are interested in this area ask Scott to tell you the story about the laser, the fish factory and the Christmas offer
Honour exceptional promises
Watch your language
Work the relationship
Get customers to vouch for you
Adopt a cause
Get the basics right to build your brand
“Sculpture is all about inspiring individuals and teams to think differently about themselves and change”
...fairness-detecting circuits in the brain
When you experience fairness/trust your biochemistry is affected and you experience increased levels of dopamine, serotonin and oxytocin all known to have a positive impact on how we feel about, and relate, to others. This may explain why we are more likely to forgive those who have acted fairly towards us in the past even when they have done something negative towards us. so to extend the metaphor they have enough credit in the bank to stay in the black even after a withdrawal.
So how do we build credit in the Emotional Bank Accounts of others?
...by demonstrating fairness and goodwill and so firing the...
Focusing activity on these factors will add credit to the bank
Low Trust = Low Speed + High Cost
1. Economics - Trust can act as a "tax or as a dividend" dependent on how much the parties trust one another
High Trust = High Speed + Low Cost
2. The Environment in which we live.....
...rather, you establish trust over time by consistently exhibiting a number of behaviours and values across a number of areas
However, there is no single activity that will build trust...
Don't always follow conventional wisdom
Self-help gurus from Norman Vincent Peale to Anthony Robbins might shudder at allowing a shaft of negativity to shine through our mental doors. But last spring, a team of American scientists concluded that Bob the Builder (shown here) might be right after all. In an elegant piece of research the self-questioning group (Bob types) solved significantly more problems than the self-affirming group.
Why? Because people who ask questions come from a more humble place, which creates space to come up with a deeper solution,
"Can I fix it?"
The Trust Equation is couched in the ways people see us i.e. as attributes. The four values pretty much sum trustworthiness up: credibility, reliability, intimacy — and whether we are seen as self-oriented, or other-oriented.
Living the four trust values is the best way to increase your trustworthiness
and finally....TRUST is not a soft issue it is THE "hard issue" for personal/organisational change and the foundation of employee engagement
at a personal and organisational level
The answer is building, maintaining and repairing......
Nick Black (market researcher, brand strategist and morphologist) talks about his model for developing brand trust
"You can have all the facts and figures, all the supporting evidence, all the endorsement that you want, but if at the end of the day you don’t command trust, you wont get anywhere.”
Niall FitzGerald Former Chairman and CEO of Unilever Current Chairman of Reuters
The study of the structure and form of words in language
"Trust does not exist unless it exists within you" J C Maxwell
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Employees with personal agendas and needs for promotion, power, and recognition that do not align with the organisation’s strategies
Employees with volatile personalities that reflect a need for vengeance.
Employees who intentionally clutter communication channels.
Employees who are incompetent or perceive their co-workers or management to be incompetent.
An organisational environment with a history of under performance, complex situations, numerous reorganisations, or management changes.
Organisations with inflexible or inconsistent policies and standards.
Several factors hinder organisational trust
Organisations who operate with the intention to give back to society create societal trust
The Principle of CONTRIBUTION
a "Trust Improvement Plan"*
*after Stephen MR Covey "The Speed of Trust"
Tel: 07807 646 508
"The glue that holds all relationships together - including the relationship between; the leader and the led is trust, and trust is based on integrity." Brian Tracy
"The people I distrust most are those who want to improve our lives but have only one course of action." Frank Herbert, Science Fiction Author
"Trust is what drives profit margin and share price. It is what consumers are looking for and what they share with one another." Larry Light CEO, Arcature
"Surround yourself with people of integrity, and get out of their way.” Hector Ruiz, CEO of AMD
Licence to Deceive (Reith Lecture) Onora O'Neill: "A Question of Trust"
Want to know more on this topic?
...a presentation by Scott McArthur (Sculpture Consulting Ltd)
"Performance With Purpose"
In this TED, pioneer in the field of neuroeconomics, Paul Zak discusses how the hormone oxytocin promotes trust
For more of the science behind trust: http://www.sciencedirect.com/science/article/pii/S1550413107000691
"Glad you (Sculpture) are making the trust work valuable to orgs." Paul Zak
(Inspired by Stephen MR Covey)
Scott's TEDx Talk on "why facts dont change people"