Trust = Speed
The business environment is changing…
55% of consumers in New Zealand in March 2009 said that in the last 6 months they have stopped buying from businesses they don’t trust and 61% of those urged family and friends to do the same.
New research has found that consumers want to buy from businesses they can trust to look after more than the businesses own interests.
Building Trust has become the leadership and business imperative. Speed to market is now the ultimate competitive weapon. Low trust causes friction and is the greatest cost in business and in life. Low trust slows everything – every decision, every communication, and every relationship.
Trust on the other hand produces speed.
Some of the advantages of building trust are:
- Enhancing innovation,
- Improving collaboration,
- Increasing profits and cutting costs,
- Speeding up execution,
- Heightening loyalty,
- Becoming more referable,
- Increasing credibility and influence,
- Reducing talent drain,
- Doubling engagement of staff,
- Reducing redundancy and bureaucracy,
- Cutting fraud,
- Eliminating politics.
Three major barriers to a team’s happiness and success are change, loss of control and lack of trust.
Learn the key leadership competency of the new global economy. The ability to establish, grow, extend and restore trust.
