Photo Credit Willie Holdman Trust is a Competency: Chief Learning Officer Magazine
May 17th, 2008 by linkThe Speed of Trust is a powerful way to recession-proof your career and your organization. When the going gets tough; projects, money, promotions, and jobs gravitate to trusted high performers. The last to be laid-off or outsourced are those “go-to” players who are trusted. A 2005 study by Russell Investment Group showed that Fortune Magazine’s “100 Best Companies to Work For” (in which trust comprises 60% of the criteria) earned over four times the returns of the broader market over the prior seven years.
The May 2008 edition of Chief Learning Officer (CLO) magazine featured The Speed of Trust in an article entitled: Trust is a Competency. This prestigious magazine is well known by leading executives around the world. CLO called trust “a critical characteristic that is more essential to business performance than ever.” The article goes on to say: “Increasingly more and more, leaders today are ‘rediscovering’ trust as they begin to see it with new eyes. Looking beyond the common view of trust as some soft, intangible, illusive social virtue, they’re learning to see it as a critical, highly relevant, and tangible asset. They’re discovering that trust affects—and changes—everything within an organization…literally every dimension, every activity, every decision, every relationship. They’re also beginning to recognize that trust is quite possibly the single most powerful and influential lever for leaders and organizations today.”
Stephen concludes the article with this practical advice for executives: “So what is the role of learning practitioners with respect to trust? I suggest it’s three-fold, corresponding to the three ways of seeing trust with new eyes:
First – always seek to frame trust within the organization in economic, not merely social, terms. By creating a compelling business case for trust, you can engage organizational buy-in and make real improvement sustainable.
Second – define leadership as ‘getting results in a way that inspires trust.’ In other words, personally model trust through character, competence, and demonstrated trust-building behavior. By doing this, you become the starting place for increasing trust, and your trusted reputation becomes an additional currency that carries significant value in the new economy.
Third – recognize and treat trust as a competency—as something you can do and create and measure—and help managers learn and understand how to behave in ways that establish, grow, extend, and (if needed) restore trust with all stakeholders.”
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