March 2024
TRUST
"The best way to find out if you can trust somebody is to trust them." — Ernest Hemingway
Trust in the Workplace:
According to a survey by PwC, 55% of CEOs think that a lack of trust is a threat to their organization's growth. However, only 15% of employees strongly agree that the management of their organization is transparent in its business practices.
Fun Facts about Trust:
Oxytocin and Trust: Research suggests that the hormone oxytocin is linked to trust and social bonding. Oxytocin is released during hugs or moments of closeness, promoting feelings of trust and connection.
Economic Impact: Economists have found that higher levels of trust in a society can lead to better and more prosperous economic outcomes. Trust reduces the cost of doing business and enables smoother transactions, fostering economic growth.
Trust Falls From Grace Easily: Trust is hard to build and easy to destroy. Studies show that while building trust can take time and consistent positive interactions, it can be significantly damaged or destroyed by a single negative event.
The Role of Trust in Health: Communities with higher levels of trust tend to have better public health outcomes. Trust in healthcare professionals and institutions plays a vital role in individuals following medical advice and adhering to treatment plans.
Trust Varies by Culture: Levels of trust and the importance placed on trustworthiness vary significantly across cultures. Some cultures value direct communication and transparency as foundations of trust, while others might place a higher value on relationships and group harmony.
Facial Features and Trust: Research indicates that people often make snap judgments about trustworthiness based on facial features. For example, faces that appear more "baby-faced" are often perceived as more trustworthy, whereas those with strong, angular features might be seen as less so.
The Paradox of Online Trust: Despite the anonymity and potential risks of online interactions, the internet has facilitated new forms of trust-building. Online reviews, ratings, and social media endorsements play a crucial role in decision-making for consumers, demonstrating trust in a digital age.
Trust and Longevity: Some studies suggest that individuals with higher levels of trust in others may live longer, healthier lives. This could be due to the positive effects of social support and community belonging on overall health.
Exercise:
We encourage you to watch this video from Simon Sinek about “trusting teams.”
After the video, share the trust phases concept below with your team and encourage them to answer the corresponding questions. Then have a discussion among your team about where you are as a company and where you want to focus moving forward.
Trust is essential at many levels within an organization. Team members need to trust one another, their leaders, and ultimately the company they work for. At Footers Catering, we’ve found that there are four phases to creating trust among a team. Each phase builds on the previous phase and must be cemented before moving on to the next. Once companies reach the preserve phase, they must continuously focus on the three previous phases to maintain that trust within the organization.
Establish — Ensuring team members know what the organization stands for – their mission, vision and values. Leaders take time to learn about the personal lives, preferences, and interests of team members.
Build — Leaders demonstrate authenticity and vulnerability. Relationships are strengthened by building on information learned in the establish phase. Behavior is consistent and reinforces the values communicated in the establish phase.
Spread — Leaders focus on helping team members build trust with one another. Trust building starts to happen among all employees and is not only reliant on the leaders in an organization.
Preserve — Trust takes a long time to establish and can be lost in a matter of minutes. The preserve phase focuses on limiting the potential for that to happen. Leaders continue to act in ways that align with company values. Transparency and communication are critical at this point as employees expect to be in the know when they are on trusting teams.
Questions:
What are some of the ways we build trust within our company?
What have we done in the past that caused us to lose trust with team members?
What phase is most critical for us as a company to focus on right now?
What is one thing we could do immediately to help create more trust within our company?