Trust has an important link with your
Trust – both between
organizations – is at the core of today's complex and rapidly changing
Many studies have concluded that it is the mutual bond of trust and respect
that acts as the catalyst that creates high performance.
With trust as a foundation, the companies – or
teams within a company – can
share their know-how to achieve
– results that exceed the sum or the parts. "Unlike formal contracts or
rigid hierarchies, trust frees partners to respond together to the
unexpected, which is essential for
mutual creativity. Trust also fosters
enthusiasm, ensuring the best performance from everyone," says Jordan D.
Lewis, the author of Trusted Partners.
relationships reduce the costs your firm incurs to manage or govern
Trust elevates levels of
sustains effort and
performance without the need for management controls and close
Trust between a manager and an employee is based on
perception of the trustee
ability, benevolence, and integrity.
Not only must you trust your employees, but even more important, they must
Such relationships facilitate collaboration and make it less necessary to
establish formal contracts and monitor and control individual and group
behaviors, thus reducing your firm's transaction costs.