What is at the crux of a successful business organization? There can be many equally significant answers to this question, as every organization consists of a multitude of essential elements. One of these elements is a trustworthy team, as Steve Jobs rightly puts it.
“Great things in business are never done by one person.
They’re done by a team of people”.
Trust is an invaluable part of not only a team, but also the organization. It is believed to be more powerful than power itself, andtherefore, it becomes mandatory to develop an internal culture that values, builds and supports trust.
When an organization runs on low levels of trust,they tend to place a hidden tax on every business transaction, as low productivity brings the speed down and costs go up. Contrary to this, high-trust organizations operate as performance multipliers by increasing speed and decreasing costs.
We at Welingkar have identified the secret sauce to create a high-trust organization, with the below ingredients:
- Integrity among Leaders: It is essential for leaders to demonstrate competence that is aligned with the company’s values. They are expected to display their trustworthiness, as leading by example is a key to building a high-trust organization. Leaders must be thoughtful and consistent with their actions to ensure follow-through of the same behavior.
- Effective communication: The communication process within an organization plays a key role in building a high-trust team. It is important for leaders to encourage and maintain communication along both ways of the hierarchy, in a constant flow. Leaders need to build transparency within the system and must communicate not only the positive, but also the negative scenarious with their employees.
- Practice what you preach: Organizations need to focus on associating with companies that have a good reputation,as employees want to know that their work matters and that they are doing business with other prominent organizations. It is important to maintain trustworthy relations outside the organization as well, and leaders need to take cautious decisions, in order to sustain an ethical and honest organization and drive these values internally within the employees through leading by example.
- Articulate a higher cause: Exceptional leaders drive people towards fulfilling the mission and vision of the organization. Team members need to be actively involved in defining and shaping the organization’s vision, goal and objectives for the present and future.
After the team’s overall purpose has been defined, each member needs to understand their unique role in the contribution towards the team’s success and identified goals. When individuals are provided the power and autonomy to do their job within a team, they begin to mutually respect each other as well as the organization and tend to contribute in more ways than one.
Building and maintaining organizational trust can be tricky, but embracing these principles will help to lay the foundation for a trusting environment within. We, at Welingkar believe that trust is a result of multitude of actions and it is the repetitive and consistent nature of these actions that helps create a culture of reliance. To explore from a host of our leasership and management programs, please refer to our website www.welingkarexedp.com