How important is it to build trust based relationships at work?
As a business owner, you come up with robust strategies to scale your business and establish a stronghold in the market. But what do you think is actually instrumental in ensuring that your strategies produce the desired outcome? One factor that perhaps comes to your mind instantly is efficient management. Another crucial factor is the efficiency of employees and how they build business relationships.
If you analyse the bottom line, you will realise that the one aspect that creates a foundation for growth through all levels of your business, one that keeps your business machinery well oiled, and one that unifies the different sections of your business is trust; trust that exists among employees, between employees and managers, and among managers at different levels. Trust in business relationships is largely instrumental in cementing your success.
While management training ensures strong strategising and organisation, trust ensures seamless implementation of plans.
What does lack of trust do?
Businesses that are not based on trust suffer from multiple operational and organisational problems. Decision making gets delayed because one stakeholder might not trust the others to act for the greater good of the company.
Employees are not motivated to work hard because they do not trust the management to reward them appropriately for their work. Negative feelings dominate the office ambiance. As a result, overall productivity of the business drops. The general brand image of the business suffers because of lack of unity resulting from lack of trust.
Besides financial losses, a business that does not focus on trust based relationships loses goodwill in the market and paves way for a downward slide.
What does trust do to a business?
In a word, when there is trust, things fall into place and the business continues to function despite major roadblocks. Communication is more robust, employees don’t harbour negativity, and there is a much better understanding between all departments. Trust helps build strong stakeholder relationships as well. These positive aspects translate directly into greater productivity and higher profits.
The case of the baggage section of the Continental Airlines is an example that businesses all over the world can take inspiration from. When the management announced that it would be laying off a major chunk of staff, employees got together and decided that the full time workers would shift to part time so that everyone could keep their jobs.
The management accepted the solution. There were no hard feelings, no mutiny and no disturbance in work. What do you think can make a radical move such as this work without hassle? The only thing that can make it happen is trust in business relationships.
It would be a good idea to conduct trust building workshops and training programmes at the workplace. Such training should be a regular activity in every business.