Trust has an important link with your organizational success.

Trust both between individuals and organizations is at the core of today's complex and rapidly changing knowledge economy. 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 Download PowerPoint presentation, pdf e-book within a company can share their know-how to achieve synergy 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.

Further, trust-based working relationships reduce the costs your firm incurs to manage or govern itself. Trust elevates levels of motivation and commitment. It sustains effort and performance without the need for management controls and close monitoring.

 

 

Trust between a manager and an employee is based on the trustor's perception of the trustee ability, benevolence, and integrity. Not only must you trust your employees, but even more important, they must trust you. 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.  >>>