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Building Better Business Through the Power of Trust

Written by Forum Corporation and posted by John Duncan on July 1st, 2016.      0 comments

A new Forum global study reveals that the secret is trust. Employees who strongly trust their leaders have greater loyalty and display better business performance than those with less trust. This is not the first time such an assertion has been made. Previous studies have linked companies’ trust levels directly to their Price/Earnings ratio. What is now clear, is that while trust is obviously beneficial for businesses, it is in short supply and is easily eroded.
 
The UK’s Chartered Institute of Personnel and Development (CIPD) reports that more than one in three employees (34%) have weak trust in senior management personnel. However, some leaders can build solid trust and reap the rewards of a loyal and engaged team who deliver results. Such results include double-digit rises in productivity and profitability, as well as reductions in staff turnover or nearly 40 percent. In the Forum survey, the aim was to discover more about how leaders and their employees view trust, and the most effective ways leaders can enhance it and drive engagement.

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