three keys to workplace trust
DESCRIPTION
Research shows that 80 percent of workers say they must have trust in their company leadership in order to be effective on the job. How is the level of trust in your workplace? This is Part 1 of the Training Industry “Building Workplace Trust” Executive Seminar Series program, sponsored by Interaction Associates. Andy Atkins, Chief Innovation Officer, and Kevin Cuthbert, Chief Consulting Officer of Interaction Associates, discuss the three cornerstones of trust ─ transparency, predictability and feasibility ─ and how to build trust in each of these key areas. Packed with tips for leaders at all levels, this seminar equips you with practical ways to make progress in building workplace trust. This seminar provides easy-to-implement insights on: The three cornerstones of workplace trust. Measuring and assessing the level of trust in your organization. Practical ways of fostering and maintaining high levels of trust for a better bottom line. Watch the recorded web seminar here: https://www1.gotomeeting.com/register/659190633TRANSCRIPT
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Building Trust:How Top Companies
Drive Business Results with Trust, Leadership
and Collaboration
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Andy AtkinsChief Innovation Officer
Kevin CuthbertChief Consulting Officer
Our Speakers:
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Today’s Presentation
a) Overview of Key Findings from 2013 Research
b) Three Keys to Trustc) Questions and Answers
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Need assistance? Call Member Services (866) 538-1909 or email
Survey Context 2009-2011
4© Interaction Associates Inc.
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Survey Snapshot2013
5© Interaction Associates Inc.
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Building Trust 2013 surveyed nearly 400 leaders at more than 290 global organizations, polling them on behaviors and issues at the intersection of trust, leadership, and collaboration.
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7© Interaction Associates Inc.
"High Performing Organizations" are organizations whose net profit grew more than 5% over the last year.
High Performing Companies
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8© Interaction Associates Inc.
“Low Performing Organizations" are organizations whose net profit shrank or grew less than 5% over the last year.
Low Performing Companies
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High vs. Low Performing Companies
28%
30%
15%
15%
11%
Up to 5% improvement
Unchanged
5-10% improvement
More than 10% improvement
NET PROFITS: 2013 compared with 2012
HIGH PERFORMING
LOW PERFORMING
Negative (loss)
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Effectiveness at Achieving Business Outcomes
• Top line/revenue growth (41 point gap)
• Competitive market position (26 point gap)
• Exhibiting organizational behavior that is consistent with company values/ethics (24 point gap)
High Performing vs. Low Performing
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High Performing vs. Low Performing
HPOs . . .
• Focus more on customer loyalty and retention (10 point gap)
• demonstrate higher levels of trust (30 point gap)
• have more effective leadership (27 point gap)
• and are more likely to have a collaborative environment (27 point gap).
. . . than LPOs.
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Trust in Business Survey2013
12© Interaction Associates Inc.
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1. Dramatic Rebound in Trust and Leadership
2. Employee Involvement and Engagement Skyrocket
3. Leaders Walk the Talk4. Trust is a Decision, Not
an Inherent Trait5. Top 5 Leadership Actions
that Build Trust
Five Key Findings
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Rebound in Levels of Trust and Leadership
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1
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To what degree do the following statements describe your organization?
All Respondents: Organizational Culture
Leadership and Trust = Significantly Higher than in 2012
38% 36% 34%31% 32%27%
2013 2012
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Thinking about the level of trust within your organization, to what extent does the following describe your company?
% Describes extremely/very well
All Respondents
1 Significantly higher than 2012
Leadership is consistent, predictable and
transparent in their decisions and actions.
2013 2012
32% 1
23%
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High Performing vs. Low PerformingTo what degree do the following statements describe your organization?(% describes extremely/very well)
Leadership Collaborative Trust
58% 56% 56%
31% 29% 26%
HPO 2013 LPO 2013
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Employee Involvement & Engagement Skyrocket
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2
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3x
Our employees view their jobs as a means to a paycheck; if another opportunity came along, they would take it.
Our employees are satisfied with the company; they see it as a good place to work. Few would be motivated to seek another job.
Our employees are highly engaged and are committed to their profession and jobs; employees willingly expend discretionary effort to achieve results.
In addition to being highly engaged, our employees are actively involved and share responsibility for the organization’s success; managers provide meaningful opportunities for employees to give input and/or participate in decisions that affect them.
Disengaged Passively Engaged
Engaged Involved
24% 7%
0% 20% 40% 60% 80% 100%
HPOs
LPOs
31% 35% 23%11%
27%42%24% 7%
HPOs vs. LPOs: Engagement and Involvement
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Engagement/Involvement and Retention Gap: All Respondents – Net Effectiveness
at Retaining Key Employees
Disengaged
Passively
EngagedInvolved
7%
40%
60% 60%
Engaged
Disengaged
7%
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Leaders Walk the Talk
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Leaders Walk the Talk
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Trust is a Decision, not an Inherent Trait
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trust (n.) a willingness to put yourself at risk based on another person’s actions
Trust
Aligned Purpose
Expertise
Past Experience
Safety Certa
inty
Basis of Trust
Readiness to Trust
Willingness to Trust
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trust (n.) a willingness to put yourself at risk based on another person’s actions
Trust
Aligned Purpose
Expertise
Past Experience
Safety Certa
inty
Basis of Trust
Readiness to Trust
Willingness to Trust
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Trust Matters
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More than 80% of Building Trust 2013 respondents say they need to trust their boss or senior leaders in order to be effective in their work.
Trust Matters
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Only 18% of people in general trust business leaders, according to the 2013
Edelman Trust Barometer.
Trust Matters
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“Employees have a high level of trust in management and the organization.”
Trust Matters
All Respondents LPOs HPOs0%
10%
20%
30%
40%
50%
60%
70%
38%
26%
56%
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How can I build trust?
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Take a balanced approach to Driving Success.
What YOU Can Do Now.
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Need assistance? Call Member Services (866) 538-1909 or email
[email protected]© Interaction Associates Inc.
TransparentReas
onab
le
Predictable
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Five top actions Leaders can take to Build Trust Now
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5
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1. Set employees up for success by providing tools, resources and learning opportunities (41%)
2. Provide adequate information around decisions (41%)
3. Seek input prior to making decisions (40%)
4. Consistently act in alignment with company values (35%)
5. Give employees an inspiring, shared purpose to work toward (28%)
Top 5 Leadership Actions that Build Trust
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Full Report and Trust Toolkit availableonline.
35© Interaction Associates Inc.
interactionassociates.com/insights
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Q&Ainteractionassociates.comBLOG: interactionassociates.com/insights/blog LINKED IN: linkedin.com/company/interaction-associatesTWITTER: @InteractionAscYOUTUBE: youtube.com/user/InteractionAssocFACEBOOK: facebook.com/InteractionAscLINKED IN Blinding Flashes of the Obvious discussion group: linkedin.com/groups/Blinding-Flashes-Obvious-Interaction-Associates-4719138
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Two Upcoming SeminarsJuly 15 – How to Build and Assess Trust on your Team
Sept. 16 –2014 Trust Research: findings, implications and takeaways
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Executive Seminar SeriesLearn more at: trainingindustry.com
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Thank YouOn behalf of TrainingIndustry.com, thanks to: • Today’s Speakers: Andy Atkins & Kevin Cuthbert• All of you for attending
Questions or Comments? Please contact Nabeel Jaitapker:
[email protected] Twitter: @NabyJ