Trust is the one thing that changes everything. Trust is common to every individual, relationship, team, family, organization, nation, economy, and civilization throughout the world. If it is removed it has the capability to destroy the greatest friendship, the most successful business, the most thriving economy, the deepest love. Trust is one thing that impacts every individual 24/7, 365 days in a year.
“Trust is the most overlooked, misunderstood, underutilized asset an organization can access to enable performance—and its impact, for good or bad —is dramatic and pervasive. It’s something you can’t escape.”–Stephen M. R. Covey
For any organization to thrive the employees should have trust in the organization and vice versa. The attrition rate across all the sectors in India is showing an upward scale. As per a report of one of the leading Indian auditing firm, the average attrition rate across all sectors is 13.4%. Why do employees leave the job and look out for the better one? Many employers believe that if the employees are paid more than average wages or raise their compensation when they resign they will stay back in the organization. But these all things don’t always work, most of the time employees leave the organization because they don’t have trust in their present organization. Many talented individualsleave their jobs due to lack of trust in their direct supervisor and in the organization as a whole.
The number one reason why people leave their jobs is due to the bad relationship with their boss. All kinds of relationships are built on and sustained by trust. Low trust is the very definition of a bad relationship.Organizations with low trust tend to have a dysfunctional environment and toxic culture. There is intense micromanagement prevailing in the organization which creates an unhealthy working environment resulting unhappy employees and stakeholders.
“Organizations are no longer built on force, but on trust” – Peter Drucker
Trust is one of the most powerful forms of motivation and inspiration. In an organization,if the employees feelthatthey are working in low trust environment then they are not motivated to put in their efforts that will benefit the organization. This would eventually lead them leaving the organization. People want to be trusted, they want their superiors to extend trust to them which would inspire them and create a sense of responsibility and integrity that would stay with them. The trust the employees have in their superior and organization comes, in part, from believing that they care. There is an undeniable connection between caring and performance, caring actually leads to better performance.
By learning how to establish, grow, extend, and restore trust, you can positively and significantly alter the trajectory of every future moment of your life. When people trust other individuals it means that they have confidence in them – in their integrity and in their abilities, this gives a motivation to the people to stick to the organization as they feel that they are been respected and wanted in the organization.
Employers have to work on creating a high trust environment where the employees feel safe and would be able to give higher performance with greater satisfaction. If the work environment is ethical, productive and positive people will stay and stay committed in driving the company forward thus, Trust has to be established through actions.