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Archive for the ‘Trust Research’ Category

Nov
02


Why should business leaders care about trust? This is why:

 

Performance of Trust Across America’s

Most Trustworthy Public Companies vs. the S&P 500 (2014-2019)

 

The chart above is the cumulative “Return on Trust” of America’s annual “Top 10” Most Trustworthy Public Companies over the past six years. Through its FACTS® Framework, Trust Across America has been analyzing, assembling and publicly reporting on this data for ten years.

If you are the CEO of a public company, or any company for that matter, who claims there is no Business Case for Trust, now may be the time to reconsider. Why DO business leaders require proof or ignore trust as their most valuable strategic advantage?

Leaders take trust for granted

Trust doesn’t just “happen.” It is not bestowed upon leaders by virtue of their title.  Trust is a learned competence and an intentional business strategy that must be crafted, practiced, modeled, and reinforced daily.

Leaders focus on the wrong metrics

Growing quarterly earnings, over reliance on sales quotas, focus on “old school” risk and/or “new school” ESG metrics will not satisfy the trust imperative that stakeholders are increasingly demanding. Neither will talking rather than acting on trust.

Leaders treat trust as a “soft skill”

Organizational trustworthiness is a hard currency. The proof is in the chart above.

Leaders are “trust reactive” 

Rarely do we hear proactive leadership discussions about building stakeholder trust. Instead, trust becomes a communications talking point only after a breach. This is both a missed and lost opportunity for leadership.

Leaders delegate trust

Trust is not a function of legal, compliance, HR, communications, or any other department. Boards of Directors and executive leadership teams must spearhead trust, making it central to the organization’s core values, so that all stakeholders can benefit.

 

Note: In 2010 Trust Across America introduced the FACTS® Framework, an EXTERNAL quantitative measurement of the corporate trustworthiness of America’s largest 2000+ US public companies. The Framework identifies companies whose leadership is going beyond doing just what is legal and compliant to choosing the right core values that satisfy all stakeholder needs. The FACTS® Framework is the most comprehensive and data driven ongoing study on the trustworthiness of public companies. We analyze companies quarterly and rank order showing trends by company, sector and market capitalization. Read more about the Framework at this link.

In 2018 Trust Across America-Trust Around the World’s Trust Alliance, a group of global trust scholars and practitioners, introduced its Trust Alliance Principles (TAP), and in 2019 our AIM Survey tool was created to guide leaders and teams in building trust INTERNALLY. It is based on universal behaviors that strengthen and weaken trust. To date, almost 150,000 global professionals have tapped into trust, and dozens of teams and organizations have used our simple survey tool to start a trust discussion.

 

Barbara Brooks Kimmel is the founder of Trust Across America-Trust Around the World, whose mission is to help organizations build trust. Now in its 12th year, the program has developed two proprietary trust-evaluation tools, the latest is AIM Towards Trust. She also runs the world largest global Trust Alliance and is the editor of the award-winning TRUST INC. book series. Kimmel is a former consultant to McKinsey who has worked across multiple industries and with senior leadership. She holds a bachelor’s in international affairs from Lafayette College and an MBA from Baruch.

For more information visit our website at www.trustacrossamerica.com or contact us.

 

 

Purchase our books at this link

 

Copyright © 2020 Next Decade, Inc.

 

 

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Jul
14

Regardless of your occupation, job title, or the type of organization that employs you, have you ever considered the role trust plays in leadership, team and organizational success?

And are you helping to build (or deplete) your organization’s trust bank account?

 

 

If you haven’t given any or much thought to these questions, you certainly are not alone. In fact, most people view trust as a soft skill that can simply be taken for granted. But consider this for a moment; there has never been a more critical time to acknowledge and embrace the business case for trust.* In fact, study after study confirms that over the long-term, high trust organizations outperform their low trust competitors, with the following benefits:

  • Elevated employee engagement and retention
  • Reduced workplace stress
  • Enhanced decision-making
  • Innovative culture
  • More accountability, transparency and communication
  • Reduced costs

Using our definition of Trust as “an OUTCOME of principled behavior,” what we knew about the benefits of high trust in the past is currently amplified in our current business environment. Often, it takes a crisis to remind us what happens when trust is ignored or taken for granted.

Whether you are working in person or remotely, these are some characteristics of a high trust workplace environment. How many are currently present in yours?

  • Energy, motivation and engagement
  • Easy to hire and onboard new employees
  • Fun and laughter
  • High confidence, creativity and risk taking
  • Thriving innovation and productivity
  • Team alignment, sharing of information and credit, and quick forgiveness
  • Accountability and transparency as the norm
  • Willingness to be vulnerable and open, speak freely, and to listen
  • Positive team-building behaviors including gratitude, empathy and candor
  • A strong sense of “community” and shared values

How many of the following signs of low trust are present in your workplace? 

  • Lack of transparency
  • Distortions of truth
  • Disrespect
  • Hidden agendas
  • Poor communication
  • Low accountability
  • Short-term thinking
  • Inconsistent talk and actions

Leaders who ACKNOWLEDGE that low trust is a tangible risk have taken the first step in building a trust based team and/or workplace. And acknowledgement remains the greatest obstacle in most organizations as it requires direct leadership attention and input, and some degree of vulnerability. If this hurdle can be overcome, then it simply becomes a matter of IDENTIFYING the personal and interpersonal strengths and weakness that are either building trust or busting it. They can then be discussed, MENDED and tracked. Our Trust Across America program calls this AIM Towards Trust, and the tool is being easily adopted by enlightened leaders of teams and in organizations of all sizes and across industries, providing a path forward to high trust.

If a long term approach to elevating trust is not a leadership imperative at this time, all is not lost. Here are a few short-term ideas that any team can implement during the current crisis.

  • Consider hiring or appointing a remote-workforce manager.
  • If you didn’t already have one, a crisis-continuity plan should be created.
  • Be clear about all expected outcomes with the focus on results rather than hours worked.
  • Ensure that all team members have a line of sight between the goal of the company and his or her personal contribution in getting to the goal post.
  • Have frequent touch points with your team about work-related matters and also about personal needs. It’s critical not to overlook your employee’s mental health during these difficult times.
  • Establish a buddy system for new employees.
  • Get your workforce up to speed with technology, but don’t over invest in it or view it as a quick and easy trust “fix.” Set aside some of that budget to learn how to build trust. It may be a little more work but will produce much great rewards over the long-term.
  • Access our Trust Alliance Principles for additional ideas and remember the weakest behaviors break the trust chain. (Over 140,000 global professionals already have.)

Which organizations will emerge the strongest from COVID-19? Probably those whose leaders chose to place trust in the center of their business strategy before March 2020. In fact, leaders and their organizations who banked trust in advance of the pandemic are now being handsomely rewarded and will continue to be long into the future. It’s never too late to start thinking about the role of trust in leadership, team and organizational success. Why not today?

*To receive a copy of our two-page Business Case for Trust, please contact us.

 

Barbara Brooks Kimmel is the founder of Trust Across America-Trust Around the World, whose mission is to help organizations build trust. Now in its 11th year, the program has developed two proprietary trust-evaluation tools. She also runs the world largest global Trust Alliance and is the editor of the award-winning TRUST INC. book series. Kimmel is a former consultant to McKinsey who has worked across industries and with many Fortune 500 CEOs. She holds a bachelor’s in international affairs from Lafayette College and an MBA from Baruch.

Copyright 2020 Next Decade, Inc.

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Jun
30

Today we conclude our 2020 Trust Insights series. Should you ever choose to think about the role trust plays on your team or in your organization, start by answering the question “Trust to do what?” and then consider the following:

 

 

 

  • All leaders and their team members must take ownership and be proactive about trust. Trust must first be well defined, never taken for granted or only talked about after a crisis. More on this subject at this link.
  • Trust is an outcome of principled behavior on the part of all leaders and team members. Access our Trust Alliance Principles to learn more. The weakest behaviors break the trust chain.
  • Leadership effectiveness should be evaluated by the internal environment of trust that has been created and maintained. Learn how you can evaluate it.
  • Trust cannot be regulated or delegated to a “department.” Without shared values that foster a culture of trust, leaders defer to legal and compliance to enforce rules. Read “Trust: Going Beyond Compliance & Ethics.”
  • No organization is sustainable without a foundation of trust, and there are no shortcuts.
  • Trust in leadership and among teams cannot be measured by public opinion polls. Don’t confuse external “perception of trust” surveys with internal surveys of trust.
  • A company cannot create authentic brand trust without first building trust internally.
  • If you are a leader who is not willing to personally do the work to build trust, don’t talk about it as if you are. Read “Ten One Liners for the Low Trust Leader.”
  • The only way to build trust is to behave your way into it. Unfortunately there are no shortcuts to trust, and there are many work arounds.
  • Ignoring trust as an intentional business strategy presents enormous enterprise risk. The benefits of high trust are too numerous to ignore.

I hope you have enjoyed our 26-week Trust Insights series.

Before you leave, Tap Into Trust and complete our 1 minute/1 question quiz. Find out how the level of trust in your workplace compares to over 500 others. 

Have you reviewed how our workshops are helping teams and organizations just like yours elevate trust? Schedule an ONLINE webinar today.

Did you miss our previous 2020 Trust Insights? Access them at this link.

Contact us for more information on elevating trust on your team or in your organization or email me directly:

Copyright 2020, Next Decade, Inc.

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Jun
23

Trust Across America is pleased to announce the results of its annual study of the trustworthiness of America’s largest public companies. For more information contact Barbara Brooks Kimmel, CEO.

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Apr
26

 

According to these recent Gallup polls, American’s trust in government is at an all time low. The same can be said for American’s trust in media.

 

Two questions. If Americans don’t trust the government to handle problems, and they don’t trust mass media then:

  1. “Why are American’s placing trust in their elected officials to make the “right” decisions for them during this crisis?
  2. “Why are American’s now trusting the mass media to report the news fully, accurately and fairly?

What are your thoughts? What will be the “state of trust” in government and media when this crisis ends? 

Post your thoughts here or contact me directly at Barbara@trustacrossamerica.com 

 


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Feb
25

The benefits of high trust are too numerous for leaders to continue to ignore.

Barbara Brooks Kimmel, Founder Trust Across America-Trust Around the World

 

 

Study after study confirms that over the long-term, high trust organizations outperform their low trust competitors. These are a few of the benefits:

  • Elevated employee engagement and retention
  • Reduced workplace stress
  • Enhanced decision-making
  • Innovative culture
  • More accountability, transparency and communication
  • Reduced costs

Why do most leaders choose to ignore trust or take it for granted?

The greatest challenges to elevating trust are the inability to delegate it, and having the right tools to fix it. Trust is a top down imperative that cannot be addressed via regulation and requires its own budget. It is not a Corporate Social Responsibility or “purpose” project, nor a compliance, human resources or marketing function, but rather an intentional business strategy adopted by leadership and practiced and reinforced daily. According to the Business Roundtable, vanishing are the days of low transparency, “short-term” thinking and maximization of shareholder value at the expense of other stakeholders. And as low trust continues to make the headlines across the globe, organizations that choose trust as an intentional strategy will continue to outperform their peers.

Take a look at some of the more recent study results:

  • On average, Trust Across America’s (that’s us) annual “Top 10″ most trustworthy public companies have outperformed the S&P 500 by over 25% since 2012 (June, 2018). This study  has also been referenced by Gartner and in the Harvard Business Review.
  • Salesforce Research (2018) surveyed over 6,700 consumers and business buyers globally to better understand the modern customer mindset. 95% of customers say that if they trust a company, they’re more likely to be loyal patrons.
  • PwC’s Global Consumer Insights Survey (2018) asked consumers which factors, other than price, influence their decision to shop at a particular retailer. More than one in three (35%) ranked ‘trust in brand’ as among their top three reasons. 

  • Another study looking at workplace trust and the impact on employee wellbeing reveals that more than half (53%) of employees considered it to be a major factor in whether they stayed or left a company. More research on the link between trust and wellness in this recent SmartBrief article.
  • According to Gallup, when employees don’t trust organizational leadership, their chances of being engaged are one in 12. But when that trust is established, the chances of engagement skyrocket to better than one in two. That’s more than a six-fold increase.

These references are bolstered by dozens of others. Short-sighted business leaders may continue to challenge the “return on trust” but the evidence is mounting. There is not only a business case but also a financial case for trust.

How can leaders elevate trust proactively instead of addressing it after a crisis and playing catch up?

It requires moving beyond talk to acknowledgement followed by ownership and action. Late last year Trust Across America-Trust Around the World introduced a quick and simple survey tool called AIM Towards Trust and Workshop opportunities for teams and organizations of all sizes and in any industry to begin a trust discussion and address the challenges that are holding back trust. The survey has been successfully administered in dozens of teams, organizations and in advance of conferences and workshops. Readers interested in reviewing its various applications can learn more at this link.

Making the decision to elevate trust is not easy.  It requires both introspection on the part of leadership and a certain amount of vulnerability. Virtues like trust, the ones that really matter, must be treated as business imperatives for those who are seeking long-term success. Waiting for the inevitable crisis (most are the result of low trust) to make the old and tired PR speech, declaring that trust must be rebuilt may be the most popular choice, but as we have seen, it’s also the most expensive and least effective. Just ask Wells Fargo.

Barbara Brooks Kimmel is the Founder of Trust Across America-Trust Around the World. Now in its eleventh year, the mission is to help organizations build trust. That’s all we do. 

Copyright 2020, Next Decade, Inc.

 

 

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Aug
20

Ideally, an internal C&E team will have great people skills and the ability to communicate and collaborate with all stakeholder groups. But if the team is ignoring the underlying principles essential to building high trust, the C&E function will be ineffective AND responsible for increasing enterprise risk.

Barbara Brooks Kimmel, CEO Trust Across America-Trust Around the World

The head of Compliance & Ethics at a large global public company recently engaged us to administer our AIM Towards Trust assessment within their 20+ member team. Unlike others who take trust for granted or consider it a soft skill, this one acknowledged that internal team trust was lacking and wanted to find out why. They sought to identify trust weaknesses and strengths, and to begin a trust discussion with the goal of remedying the weaknesses, celebrating strengths and reducing risk.

Our one question/one minute assessment is based on our universal principles called TAP (Tap Into Trust), developed over the course of a year by many of the world’s leading trust scholars and practitioners, accessed almost 65,000 times, and now in use in dozens of teams and organizations.

The survey results are displayed below. Accountability, Transparency and Respect were identified as the principles that needed immediate attention and, armed with this knowledge, the C&E Team leader was provided with additional do-it-yourself tools to address the weaknesses.

This leader believes that the responsibility to elevate organizational trust lies with their team, and is now expanding the assessment, bringing it into other functional areas within the organization to identify and remediate trust gaps. 

High trust C&E teams are role models, supporting employee and customer wellbeing which, in turn fosters faster company growth and achievement of organizational goals, while minimizing risk. 

What do you think the trust profile of your C&E team would look like, or would you rather not know?

While your colleagues are embracing trust as the NEW currency, are you choosing to ignore it?

Barbara Brooks Kimmel is the CEO of Trust Across America-Trust Around the World whose mission is to help organizations build trust using a proprietary assessment tool called AIM Towards Trust. A former consultant to many Fortune 500 CEOs and their firms, Barbara also runs the world’s largest global Trust Alliance, and is the editor of the award winning TRUST INC. book series and TRUST! Magazine. Barbara holds a BA in International Affairs and an MBA. For more information contact barbara@trustacrossamerica.com

Copyright 2019, Next Decade, Inc. No part of this document may be reproduced without permission.

 

 

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Jun
18

For immediate release:

 

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust using a proprietary diagnostic called AIM Towards Trust. A former consultant to many Fortune 500 CEOs and their firms, Barbara also runs the world’s largest global Trust Alliance, and is the editor of the award winning TRUST INC. book series and TRUST! Magazine. Barbara holds a BA in International Affairs and an MBA. For more information contact barbara@trustacrossamerica.com

Copyright 2019, Next Decade, Inc.

 

 

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Apr
09

 

What gets measured gets managed – Peter Drucker

In preparation for the first anniversary of Tap Into Trust, we have been running an anonymous one question/one minute survey to identify the primary causes of low trust in organizations. The results may surprise you and provide insight into what needs fixing.

 

 

 

Which of these 12 trust principles do you consider the weakest in your organization?

Transparency? Integrity? Respect? None of those would be correct.

  • Truth
  • Accountability
  • Purpose
  • Integrity
  • Notice
  • Talent
  • Openness
  • Transparency
  • Respect
  • Understanding
  • Safety
  • Tracking

Take the survey and find out.

Remember, You can’t manage what you haven’t measured.

Trust is always internal and must be built from the inside out. Everything else is simply “perception of trust.”

Learn how you can bring this trust diagnostic into your team or organization.

For more information contact:

Barbara Brooks Kimmel, CEO and Cofounder Trust Across America-Trust Around the World barbara@trustacrossamerica.com

Copyright 2019, Next Decade, Inc.

 

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Mar
20

Are financial institutions inherently untrustworthy or is this a simple misconception? 

To answer this question we first must consider how “finance” and “trust” are being defined. Without universally accepted definitions, all financial institutions are painted with one broad brushstroke and consumers among other stakeholders, are left in an ever escalating state of mistrust and confusion. And when the “news” and the latest “study” report that trust in finance is up (or down) this only fuels the fire.

Trust? What are we trusting financial institutions to do, or not do? Safeguard our money, be transparent with fees, earn a good return for shareholders, protect our personal data, treat employees well, provide good customer service, or all of the aforementioned?

Finance? Can global investment banks, regional banks, brokerage firms, insurance companies, financial planners, REITS, and/or a local savings and loans be lumped together when discussing trust in finance? Should they be?

For nine years Trust Across America has been researching and reporting on the trustworthiness of America’s largest 2000 public companies via our proprietary FACTS® Framework. We perform this analysis through a quantitative and objective lens (with no input from the companies themselves)

 

This is, by order of magnitude, the largest ongoing study ever conducted on trustworthiness at the individual corporate level. Our 2018 data (Russell 1000 only displayed below) concluded that the finance sector remains the lowest in trust, with an average score of 57 on a 1-100 scale. (Down from 58 in 2017). This dataset was finalized in April 2018. It is updated every April.

 

Copyright 2019 Next Decade, Inc.

 

But what do these numbers really mean?

Our data also tells a more detailed story, and one that places us in a unique position to discuss trust AND the financial industry. Industry is NOT destiny and those more trustworthy financial institutions suffer at the hands of their less trustworthy colleagues. Take a look at this. Suddenly certain financial industry players look quite a bit better, while some look worse.

Copyright 2019 Next Decade, Inc.

 

 

And dissecting the data even further reveals the following:

 

                                                 Name            Symbol    Sector                        Industry                 FACTS Score

Copyright 2019 Next Decade, Inc.

 

Some of the major regional banks have high trust scores, while others do not. Again, industry is not destiny.

Trust in financial institutions isn’t necessarily “up” or “down.” That’s simply a news headline. At its core, trust is internal. It is a function of how much leadership cares about its corporate culture, and chooses to embrace the value of trust in meeting the needs of every stakeholder group. For those leaders who are interested in learning more about how to elevate trust internally, please Tap into Trust and take our sample one minute (customizable for any organization or team) quiz.

For all others, keep debating whether trust is “up or down.”

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She also runs the world’s largest global Trust Alliance and is the editor of the award winning TRUST INC. book series. She holds a BA in International Affairs and an MBA. 

Purchase our books at this link

For more information on Trust & Integrity in Corporate America purchase our 2018 report. To be among the first to review our research and more fully engage in elevating organizational trust, please consider membership in our vetted Trust Alliance.

 

Copyright 2019, Next Decade, Inc.

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