Speed of Trust Process
In today’s world, times are changing… FAST! We are connected globally and decisions need to be made quickly in order to compete effectively. There is one variable that affects everything in your organization and that is TRUST.
For organizations that have a high-trust culture, they tend to receive “dividends” from establishing these values. The SPEED of getting things done is fast and the cost of operating their business is LESS than their competition. Conversely, when a leader does not invest in instilling trust into their culture, they will pay a “tax” to operate. Their costs go up and their speed of operations decreases.
Want to learn more? Consider reading the executive book summary now of the best-selling leadership book by Stephen M.R. Covey, The Speed of Trust. FranklinCovey offers a variety of Speed of Trust programs that are targeted specifically for the c-suite and down to the front line. Click here to watch testimonials about the results our clients are achieving with The Speed of Trust Process.
What issues are you trying to solve? Below is a partial list of typical “Jobs-to-be-Done”…the most common reasons that a client works with us to implement our Speed of Trust Process.
Employee disengagement is at all-time high costing U.S. organizations over $250-300B per year (according to Gallup’s conservative estimate). Data from Gallup also states that 96% of engaged employees trust their companies, while only 46% of disengaged employees trust their companies. Deloitte LLP states that one-third of working Americans say they will try to find a new job once the recession is over, and 48% of that group cited losing trust in their employer as being the primary factor.
Trust is a learnable, critical leadership skill, and the bedrock of highly functioning teams. Are you part of a high performing team, full of energy, productivity, and creativity? Or do you suffer on a team with a toxic culture, political atmosphere and hidden agendas? What is the difference in terms of real costs, speed, execution, productivity, and time spent on real work? Our Speed of Trust Team Process™ transforms average, or even dysfunctional teams, into highly functioning, effective, "results driven" teams which become the lifeblood of any organization.
The first casualty of war is truth. The first casualty of a merger is trust. 83 percent of all mergers and acquisitions fail. Why? Because of the inability to systematically and effectively integrate new and different cultures. Frequently, the deal itself makes great sense. However, organizations stumble because of people and cultural differences. The Board Room knows this, but most don’t know how to do anything about it. We do. There is plenty of research about the failure path for mergers and acquisitions. The missing piece is the integration of a trust methodology. How do you deliver on an effective and efficient change effort without trust? And at what cost?
Experts agree that we have entered a “Collaborative Economy,” and executives and their teams must master the ability to develop, extend, and restore trust with all stakeholders. As Stephen M. R. Covey puts it: “Without trust, you may be able to coordinate, you may even be able to cooperate, but to truly collaborate with team members, customers, suppliers, and other stakeholders, you must have trust.” Trusted and collaborative people are also more likely to get promoted and win the best projects.
Whenever two organizations are required to work together, how does low trust impact the work to be done? What is communication like? Are there politics or posturing? One notable example is the supply chain process where product is manufactured created, shipped, tracked, and sold. A smoothly operating supply chain is critical to the profitability of any retail, grocery, manufacturing or products company. What are the taxes associated with adversarial or low trust relationships with your partners? What would they say the ‘trust taxes’ are like in working with your organization?
"Culture is back on the corporate agenda. As leaders deal with the demands of increased complexity – whether managing financial and environmental risk, navigating new markets, assimilating new types of technologies, or building a strategy for organic growth – many recognize the momentum that comes with a responsive, energized culture." – Art Kleiner and Rutger von Post
Stephen M.R. Covey says, “While high trust cannot necessarily save a bad strategy, low trust will almost always derail an otherwise good strategy.” Voted the # 1 enduring idea by Strategy + Business Magazine readers, execution is appropriately a huge focus in organizations today. Execution is significantly enhanced by trust. FranklinCovey’s Execution Quotient tool—xQ™—has consistently shown a strong correlation between higher levels of organizational execution and higher levels of trust.
High trust companies are better able than low trust companies to execute their organization’s strategy. Trust is the “hidden variable” in the formula for execution success.
Every interaction, every work project, every communication, every strategic or tactical imperative; every organizational change initiative you are trying to accomplish – regardless of size or scope, is affected positively or negatively by trust.
Many organizations are paying what we call a Trust Tax™. There is nothing more damaging to productivity than the trust gaps that can exist throughout an enterprise. A Trust Tax™ shows up in a team or organization that directly impacts the speed and the subsequent cost of getting the work done.
The attitude and habit of continually improving is one of the prime differentiators between companies that remain relevant and succeed and those that fall by the wayside in today’s recovering global economy.
"The complacent company is a dead company. Success today requires the agility and drive to constantly rethink, reinvigorate, react, and reinvent." –Bill Gates, Chairman, Microsoft
"The complacent company is a dead company. Success today requires the agility and drive to constantly rethink, reinvigorate, react, and reinvent." –Bill Gates, Chairman, Microsoft
Innovation is a critical survival skill to spark growth, and trust sparks innovation! High trust companies are innovative in the products and services they offer customers, and they have strong cultures of innovation, which only thrive in an environment of high trust.
