Building a Winning Culture: Inspire Trust

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© Franklin Covey Co. and CoveyLink, LLC. All rights reserved. Building a Winning Culture: Inspire Trust In his classic book, The Speed of Trust, our colleague Stephen M. R. Covey explained that the first imperative of a leader is to inspire trust. It's to bring out the best in people by entrusting them with meaningful stewardships, and to create an environment in which high-trust interaction inspires creativity and possibility. TRUST — A PERFORMANCE MULTIPLIER Only 10 percent of workers trust their bosses to do the right thing, and only 14 percent believe their company's leaders are ethical and honest. Less than a fifth of the general public trusts business leaders to be ethical and honest. For companies known as being trusted, the bad news is good news. People are hungrier than ever to do business with people they can trust. A Watson Wyatt study found the high-trust organizations outperform low-trust organizations in total return to shareholders by threefold. Why is that? Consider this: Trust always affects two measurable outcomes — speed and cost. When trust goes down, speed goes down and cost goes up. This creates a trust tax. When trust goes up, speed goes up and cost goes down. This creates a trust dividend. It's that simple, real, and predictable. How do you feel about relationships where trust is high? How effective is your communication with a person you trust? In our experience, it's easy and fast. Conversely, when trust is low, " Trust is the highest form of human motivation. it brings out the very best in people." — Stephen M. R. Covey

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