It might be tempting to think of trust as a "nice to have" trait. But it's so important, lacking trust will cost both you and your company.
"Lack of trust is the biggest expense in an organization," said David Horsager, chief executive of White Bear Lake, Minn.-based Trust Edge Leadership Institute and author of "Trusted Leader." "It's always the root issue at the core. It's not a sales or leadership issue. It always comes down to trust."
The value of trust makes sense. It's a vital part of any effective team or relationship. Teammates who trust each other can work faster and more efficiently. If you trust someone, you don't need to confirm everything they say. You can just act on the information they share.
Build Trust Yourself
But building trust takes effort. A good place to start is being open and transparent yourself. Trust is necessary when it comes to leading a group. If people see you emphasizing trust, they will know where you're coming from.
Expect huge gains if trust catches on. If people know they can rely on each other, they can speak freely and can expect others to do the work they've said they will. If you don't trust someone, you need to check up on them to make sure they're doing what's needed. That wastes time and effort.
Horsager's firm outlined the pillars of trust. Among them: clarity, character, competency and consistency. When you have those, you'll win trust from your team.
Be Transparent
Transparency clearly leads to trust. Leveling with people is particularly vital when the leader messes up. Don't cover a blunder up or try to make yourself look good. Admit what you did wrong and explain it.
Horsager's firm did a global study that showed 92% of people said they would trust their senior leaders more if they readily admitted mistakes.
"(Fessing up to mistakes) is the biggest thing most people can change (to improve trust)," he said.
Be more transparent by closing the gap between public and private conversations, says Chuck Wisner, a leadership advisor and speaker based in Manchester-by-the-Sea, Mass., who wrote "The Art of Conscious Conversations."
If your boss asks you how your upcoming financial results look, you might say they're in good shape. But you might think to yourself, "I'm really concerned and I feel like the boss is looking at the wrong numbers. Others show our progress better."
But if you're not comfortable saying that, you can't be fully transparent. "If you don't feel psychologically safe, that prevents you from speaking up," Wisner said.
Create an atmosphere where all people are encouraged to share honest thoughts and be open. Don't just seek what you want to hear.
Do What You Promised To Gain Trust
Wisner says trust requires three elements: competence, reliability and sincerity. You need all three traits to be trusted. "People might be competent but they're always late," Wisner said. "That's a quiet thing that eats away at trust."
Build trust by having purposeful conversations where people commit to doing something, big or small, Wisner says. It might be that they'll hand you a pen when they're done using it or that they'll finish a big project by Friday. Then see if they follow through.
"Commitment conversations are where trust and distrust get generated," Wisner said.
Avoid Temptation To Say Yes Too Fast
Some people are prone to saying yes to anything. That can lead to problems.
If the boss asks you to finish a presentation by Monday morning, you might work all weekend to finish it. But when you turn it in, she says it's not at all that she wanted. In your haste to commit, you didn't get vital details.
"A quick yes made a sloppy promise," Wisner said. "That leads to distrust."
Solve that by having clear conversations to ensure you know what's being requested. "Every fulfilled promise is how we build trust without realizing it," Wisner said.
Humility is another key to trust.
Horsager spoke to a group of Deere dealers who had also invited John Stiegelmeier, the recently retired head football coach at South Dakota State University. Stiegelmeier won a national title last season and is the winningest coach in school history.
"He didn't have amazing gestures or humor, but he held everybody," Horsager said. "He was so humble and transparent. That authenticity and humility win. We trust those who are humble."
