Archive

Posts Tagged ‘C-Suite’

Sep
07

 


Photo courtesy of www.luckypeach.com

Question: If elevating organizational trust improves profitability, what stops senior executives from placing trust at the top of every business agenda?

Possible Answers:

  • Trust is taken for granted or overlooked
  • No silo “owns” trust so there is no budget
  • Trust is soft and intangible
  • Trust is not regulated
  • External stakeholders are not demanding trust
  • Executives believe that the business case for trust does not exist
  • Organizational trust is completely misunderstood by just about EVERYONE

I recently posed the following questions to two senior executives at Fortune 500 companies:

Question #1:  How is the level of trust in your organization?

  1. Answer from Executive #1: We have no trust issues
  2. Answer from Executive #2: We have no trust issues

Question #2: How do you know?

  1. Answer from Executive #1: Our revenues are exploding and we are expanding globally.

Note: I call this the “shareholder value” answer.

  1. Answer from Executive #2: Weren’t you listening during my speech? Our CSR and philanthropy programs are some of the best out there.

Note: I call this the “corporate window dressing” answer.

Ask almost any C-Suite executive these two questions and most likely you will get a similar answer.

 Now let’s take a deeper dive

Executive #1 works for one of the largest health insurers in the world. Over 500 employees posted the following comments on Glassdoor.com. Overall, the employees rate the company a 3 out of 5.

  • Horrible health benefits (the company is a health insurer)
  • Huge cronyism issues
  • Tons of corporate politics and red tape
  • Poor appraisal process
  • High stress
  • It paid the bills
  • Management by fear
  • High turnover rates

Executive #2 works for one of the world’s largest pharmaceutical companies. Let’s see what over 200 employees have to say about their work experience. Overall, the employees rate the company a 3 out of 5.

  • We played cards to reduce our workday from 8 to 6 hours
  • Employees not allowed to talk to each other
  • Too many company meetings and policies
  • No decent leadership
  • No morale
  • Leaders are inept
  • Bureaucracy and never ending process

Do these sound like “high trust” companies to you? Do perceptions match reality?

Trust Across America has been researching and measuring the trustworthiness of the 1500 largest US public companies for almost eight years via it’s FACTS® Framework. This, by order of magnitude, is the most comprehensive and fact-based ongoing study on this subject. We analyze quarterly and rank order by company, sector and market capitalization. We are particularly interested in tracking individual companies and sector trends over time.

 

While Trust Across America continues to make the business case for trust, it remains quite common for perceptions of organizational trustworthiness to remain misaligned with reality. Most times, the trust “wake up call” and the residual fallout unfortunately occur AFTER a crisis, and as a direct result of a blatant abuse of stakeholder trust. Just ask Wells Fargo, Mylan and Volkswagen.

It’s a lost opportunity when business leaders wear their trust blinders while the evidence mounts not only for the business case but also the financial one.  Trust works.

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. In 2017 she was named a Fellow of the Governance & Accountability Institute, and in 2012 she was recognized as one of “25 Women who are Changing the World” by Good Business International. She holds a BA in International Affairs from Lafayette College and an MBA from Baruch at the City University of NY.

For more information visit our website at www.trustacrossamerica.com or contact Barbara Brooks Kimmel, CEO and Cofounder

Barbara@trustacrossamerica.com

You may also join our Constant Contact mailing list for updates on our progress.

Purchase our books at this link

Copyright 2017, Next Decade, Inc.

 

 

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Sep
02

Photo courtesy of psychologicalscience.org

How frayed is trust in your organization? As a business leader, it’s your responsibility to repair it before the rope snaps and a crisis occurs.

Five Trust-Building Resources for Business Leaders

  1. Read a book on building trust
  2. Purchase a DIY kit called Trust in a Box
  3. Receive cutting edge advice by joining our Alliance
  4. Read our White Paper: The State of Trust in Corporate America
  5. Hold a workshop

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. In 2017 she was named a Fellow of the Governance & Accountability Institute, and in 2012 she was recognized as one of “25 Women who are Changing the World” by Good Business International. She holds a BA in International Affairs from Lafayette College and an MBA from Baruch at the City University of NY.

For more information visit our website at www.trustacrossamerica.com or contact Barbara Brooks Kimmel, CEO and Cofounder

Barbara@trustacrossamerica.com

You may also join our Constant Contact mailing list for updates on our progress.

Purchase our books at this link

Copyright 2017, Next Decade, Inc.

 

 

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Aug
19

Photo courtesy of www.foodconnections.org

Business leaders often talk about trust, particularly after a crisis. Yet, in the majority of companies proactive initiatives to elevate trust simply don’t exist, and that’s why the crises continue unabated and repeat themselves across corporate America.

Building trust proactively requires not only a strategic plan, but full understanding and support on the part of leadership. These facts about trust represent a good starting point to elevate trust in any business.

  1. Without trust at the top, trust in the middle cannot be maintained.
  2. Trust cannot be regulated. It’s voluntary and built on vision and values, not on rules and laws.
  3. Ethics and compliance are not synonymous with trust.
  4. Hanging a corporate credo on the wall doesn’t satisfy the trust imperative.
  5. Growing quarterly earnings does not make a company trustworthy. What makes it trustworthy is meeting the needs of all stakeholders, not just shareholders.
  6. Trust cannot be owned by one corporate silo. It’s holistic and must flow down through the entire organization.
  7. Elevating trust is NOT a CSR program.
  8. The trustworthiness of public companies CAN be measured.
  9. Trust is a hard currency, not a soft skill, and it’s more profitable in the long-term.
  10. The business case for trust can be ignored by corporate leaders, but only for so long.

The most progressive business leaders have joined our Trust Alliance to ensure that they never miss an opportunity to learn about elevating organizational trust.

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. In 2017 she was named a Fellow of the Governance & Accountability Institute, and in 2012 she was recognized as one of “25 Women who are Changing the World” by Good Business International. She holds a BA in International Affairs from Lafayette College and an MBA from Baruch at the City University of NY.

For more information visit our website at www.trustacrossamerica.com or contact Barbara Brooks Kimmel, CEO and Cofounder

Barbara@trustacrossamerica.com

You may also join our Constant Contact mailing list for updates on our progress.

Purchase our books at this link

Copyright 2017, Next Decade, Inc.

 

 

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Oct
16

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Executive Summary of White Paper Recently Published

by Trust Across America-Trust Around the World

 

Building a trustworthy company will improve both its profitability and organizational sustainability. Supporting this statement is a growing body of evidence showing an increasing correlation between trustworthiness and superior financial performance. Our 2016 report attempts to provide content and context to place trust in the center of more business conversations, to answer the following questions and dispel the myth that integrity and trust are “soft” skills.

  • Why do trust and integrity matter?
  • Can they be measured?
  • Are they profitable?
  • Which sectors are the most trustworthy?
  • Is industry destiny?
  • What are the costs of low trust and integrity and why do they matter as hard currencies?
  • Which companies are some of the most trustworthy and why?
  • How can companies become more trustworthy?

Integrity and trust should start at the top and flow down through the organization. They are not CSR, compliance, HR or leadership “programs” but rather an intentional holistic business strategy adopted by leadership and practiced daily. Vanishing are the days of low transparency, “short termism” and maximization of shareholder value at the expense of other stakeholders.

As trust breaches continue to make the headlines across many major institutions and societies around the globe, organizations that choose integrity and trust as intentional strategies will continue to outperform their peers.

Who will find value in reading this paper?

  • Business leaders
  • Boards of Directors
  • Associations
  • Investors
  • Communications and Investor Relations
  • Corporate responsibility officers
  • Regulators
  • Politicians
  • NGOs

Please register here to request access to the full paper.

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. Now in its seventh year, the program’s proprietary FACTS® Framework ranks and measures the trustworthiness of over 1500 US public companies on five quantitative indicators of trust. Barbara also runs the world largest global Trust Alliance, is the editor of the award winning TRUST INC. book series and a Managing Member at FACTS® Asset Management, a NJ registered investment advisor.

Copyright © 2016, Next Decade, Inc.

 

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Jun
10

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It’s no secret that trust is either completely ignored or taken for granted in most organizations. In fact, usually its a pattern of systemic low trust, followed by a crisis, for the word “trust” to even make its way on to the organization’s radar. And then the wrong question is asked.  How do we “rebuild” trust (even though it never existed)? What a mess.

Why is this? These are the 5 most common excuses for ignoring trust:

  1. Boards and C-Suites (in most organizations) have never considered trust as a business imperative or strategy.
  2. Organizational trust is mistaken for compliance which is confused with ethics.
  3. Organizational trust cannot be regulated. It’s voluntary.
  4. When a trust breach occurs, often the punishment doesn’t fit crime so there is little deterrent for repeating the “crime.”
  5. Trust is soft and can’t be measured. And that which can’t be measured, can’t be managed.

It’s #5 that perhaps bears the least weight. There are numerous measurements of organizational trust and trustworthiness. Trust Across America-Trust Around the World has aggregated 5 years of data proving the Return on Trust in public companies. Other global trust experts have validated assessment tools measuring the most important indicators of qualitative trust in leaders, teams, employees, etc.

Organizations choosing  to be proactive about trust must turn over the right rock to find the help they need. It doesn’t come from legal, compliance, risk, crisis management, CSR, sustainability, marketing or traditional leadership expertise. The only way to craft a trust-building strategy that “sticks” is by having the right people do it, and those are trust experts, no one else.

Taking trust for granted is like breathing…until the heart attack makes it impossible. Then the victim tries to find the best Band Aid to temporarily stop the disease when it could have been totally avoided. Leaders who choose to be proactive about trust have a huge advantage over their competitors. All the excuses in the world won’t change that.

Have you answered our June “Pulse” on Trust question? Today is the last day to vote. It will take no more than 30 seconds.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust, and runs the world’s largest membership program for those interested in the subject. She is also the editor of the award winning TRUST INC. book series and the Executive Editor of TRUST! Magazine. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

Our annual poster, 52 Weeks of Activities to Increase Organizational Trust is available to those who would like to support our work by making a small donation.

Did you know we have published 3 books in our award-winning TRUST Inc. series. They are yours when you join our Alliance.

Copyright 2015, Next Decade, Inc.

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Oct
02

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Earlier this year Dov Seidman, the founder and CEO of LRN, called for a leadership Apology Cease-fire via the NY Times Dealbook. As Dov explained,  “You need to earn back trust and change your behavior in a way that proves, without question, that you mean it.” He was speaking about authentic leadership apologies, containing specific components outlined in the article. That was in February and since then Dov has been searching for examples. He reported on his findings early in September, having identified one authentic apology back in 2008. It came from a political leader.

Last week I wrote about the “apology” offered by Home Depot’s CEO after the latest in a string of corporate data breachesHe must have missed Dov’s apology cease-fire request in February. I suppose the CEO of General Motors  and the CEO of GlaxoSmithKline did too.

The global crisis is not one of trust, but actually one of leadership. Until executives and their respective Boards or advisors learn how to build trust by incorporating it into their DNA and then placing trust on the daily docket, we will continue to hear empty apologies. Yes, culture change takes time, perhaps a year or eighteen months, and since bad behavior rarely gets punished, there is little to no incentive to alter the status quo.

The good news, industry is not destiny. There are many organizations with high trust environments. They are rewarded with increased profitability, more loyal stakeholders and long term enterprise sustainability, among other benefits.  And, most important, by building trust into their DNA, they rarely find themselves having to apologize at all.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She is also the editor of the award winning TRUST INC. book series. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

Nominations are now being accepted for Trust Across America-Trust Around the World’s 5th annual Global Top Thought Leaders in Trustworthy Business.

PrintND Trust CEO cvr 140602-ft914Trust front Cover

                                                                                               Coming Soon!

Should you wish to communicate directly with Barbara, drop her a note at Barbara@trustacrossamerica.com

Copyright © 2014, Next Decade, Inc.

 

 

 

 

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Sep
26

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We must reinvent a future free of blinders so that we can choose from real options. David Suzuki

Question: What role does trust play as a business imperative when senior executives are unable to remove their blinders?

Answer: No role.

On two separate occasions, I posed the following questions to two senior executives at Fortune 500 companies:

Question #1:  How is trust in your organization?

1. Answer from Executive #1: We have no trust issues

2. Answer from Executive #2: We have no trust issues

Question #2: How do you know?

1. Answer from Executive #1: Our revenues are exploding and we are expanding globally.

Note: I call this the “shareholder value” answer.

2. Answer from Executive #2: Weren’t you listening during my speech? Our CSR and philanthropy program is one of the best.

Note: I call this the “corporate window dressing” answer.

Ask almost any C-Suite executive these questions and most likely you will get one of these answers.

Now let’s take a deeper dive

Executive #1 works for one of the largest health insurers in the world. Over 500 employees posted the following comments on Glassdoor.com. Overall, the employees rate the company a 3 out of 5.

  • Horrible health benefits (the company is a health insurer)
  • Huge cronyism issues
  • Tons of corporate politics and red tape
  • Poor appraisal process
  • High stress
  • It paid the bills
  • Management by fear
  • High turnover rates

Executive #2 works for one of the world’s largest pharmaceutical companies. Let’s see what over 200 employees have to say about their work experience. Overall, the employees rate the company a 3 out of 5.

  • We played cards to reduce our workday from 8 to 6 hours
  • Employees not allowed to talk to each other
  • Too many company meetings and policies
  • No decent leadership
  • No morale
  • Leaders are inept
  • Bureaucracy and never ending process

Do these sound like “high trust” companies to you?

The Costs of Low Trust

  • Gallup’s research (2013) places 13% percent of workers as engaged (87% disengaged.)
  • The disengaged workforce (Gallup, August, 2013) is costing the US economy $450-550 billion a year, which is over 15% of payroll costs.

  • According to The Economist Intelligence Unit (2010), 84% of senior leaders say disengaged employees are considered one of the biggest threats facing their business. However, only 12% of them reported doing anything about this problem.
  • According to Edelman globally, 50% of consumers trust businesses, but just 18% trust business leadership.
  • And finally, in the United States, the statistics are similar, but the story is a bit worse for leadership. While 50% of U.S. consumers trust businesses, just 15% trust business leadership.

Building a trustworthy business will improve a company’s profitability and organizational sustainability.

A growing body of evidence shows increasing correlation between trustworthiness and superior financial performance. Over the past decade, a series of qualitative and quantitative studies have built a strong case for senior business leaders to place building trust among ALL stakeholders (not just shareholders) high on their priority list.

According to Fortune’s  “100 Best Companies to Work For”, based on Great Place to Work Employee Surveys, best companies experience as much as 50% less turnover and Great Workplaces perform more than 2X better than the general market (Source: Russell Investment Group)

Forbes and GMI Ratings have produced the “Most Trustworthy Companies” list for the past six years. They examine over 8,000 firms traded on U.S. stock exchanges using forensic accounting measures, a more limited definition of trustworthy companies than Trust Across America’s FACTS Framework but still somewhat revealing. The conclusions they draw are:

  • “… the cost of capital of the most trustworthy companies is lower …”
  • “… outperform their peers over the long run …”
  • “… their risk of negative events is minimized …”

From Deutsche Bank:

  • 85% concurrence on Greater Performance on Accounting –Based Standards (“… studies reveal these types of company’s consistently outperform their rivals on accounting-based criteria.”)

From Global Alliance for Banking on Values, which compared values-based and sustainable banks to their big-bank rivals and found:

  • 7% higher Return on Equity for values-based banks (7.1% ROE compared to 6.6% for big banks).
  •  51% higher Return On Assets for sustainable banks (.50% average ROA for sustainable banks compared to big bank earning 0.33%)

These studies are bolstered by analyses from dozens of other respected sources including the American Association of Individual Investors, the Dutch University of Maastricht, Erasmus University, and Harvard Business Review.

Do you think the two companies cited about have trust issues? How can we help them remove their blinders? How can we help them move beyond quarterly numbers and corporate window dressing?

As my friend Bob Vanourek likes to say. “Leaders must place trust on their daily docket.”

Business leaders may choose to ignore the business case for trust but the evidence is mounting, not only for the business case but also the financial one.  Trust works.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She is also the editor of the award winning TRUST INC. book series. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

PrintND Trust CEO cvr 140602-ft914Trust front Cover

                                                                                                  Coming Soon!

Should you wish to communicate directly with Barbara, drop her a note at Barbara@trustacrossamerica.com

Copyright © 2014, Next Decade, Inc.

 

 

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Sep
17

 

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The other day I read an interesting article called “Gaining Their Trust” in Human Resource Executive Online.

According to this article,  HR leaders must earn the trust and respect of their C-Suite colleagues and board members.

Something about this doesn’t sound quite right.

Isn’t it the Board and C-Suite’s responsibility to lead with trust and then to extend that trust to not only HR leaders but all leaders?

We wrote about this extensively in our second book, TRUST INC., a Guide for Boards & C-Suites. In fact, 60 experts weighed in with 100 strategies for Boards & C-Suites to lead with trust with internal stakeholders.

Stephen M.R. Covey speaks frequently about the 5 Waves (Incremental Steps) of Trust in an Organization:

READ WAVE #2 and #3 CAREFULLY!!!

WAVE 1: Self Trust (personal credibility)

WAVE 2: Relationship Trust (behavior with others)

WAVE 3: Stakeholder Trust (alignment with internal stakeholders)

WAVE 4: Market Trust (external reputation)

WAVE 5: Societal Trust ( global citizenship- social consciousness, corporate citizenship, and corporate social responsibility.)

The responsibility of gaining trust lies squarely with the Board and C-Suite, whose first priority should be in building relationships and ensuring alignment with their internal stakeholders, not the other way around.

Trust-focused organizations must:

  • Have a well-defined mission, corporate credo and strong values
  • Hire the “right” people who are aligned with those values
  • Lead with trust.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She is also the editor of the award winning TRUST INC. book series. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

PrintND Trust CEO cvr 140602-ft914Trust front Cover

                                                                                                  Coming Soon!

Should you wish to communicate directly with Barbara, drop her a note at Barbara@trustacrossamerica.com

Copyright © 2014, Next Decade, Inc.

 

 

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Aug
26

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Late last year Trust Across America-Trust Around the World  published the first in a planned series of award-winning books.  TRUST INC., Strategies for Building Your Company’s Most Valuable Asset brings together the wisdom of 32 experts. Six months later we released our second book, Trust Inc. A Guide for Boards & C-SuitesIn this book, sixty experts have joined forces to offer 100 strategies.

Throughout the month of August, we will be featuring 31 essays from our second book. Each stands alone as an excellent resource in guiding Boards and C-Suites on driving a trust agenda at the highest level in the organization, and provides tools for those who choose to implement trust-building programs in their organization.

This twenty-sixth essay brings advice from Edward Marshall, the President of The Marshall Group, Inc., a Chapel Hill, North Carolina collaborative leadership consulting firm that for 30 years has worked with senior leadership of Fortune 500 businesses to create collaborative leadership cultures that result in high trust and sustainable results. He has led over 150 engagements at companies like Marriott, Microsoft, Philips, and DuPont, work that has won awards and best practice designation. He developed The Collaborative Method(sm), a suite of leadership and culture change services. Edward has two business best-sellers, including Building Trust at the Speed of Change. He is also 2014 Top Thought Leaders in Trustworthy Business and members of the Alliance of Trustworthy Business Experts.

The Key to Trust in the C-Suite: Building Psychological Safety

Trust is the goal in any relationship, and it is the emotional capital sought after by business leaders. We cannot achieve much without it. It is hard to build, easy to lose, and once lost, hard to regain.

To build and sustain trust, organizational psychologists tell us, there must be psychological safety. This means freedom to speak one’s truth responsibly without fear of retribution. The NASA investigation of the Columbia crash found that a key reason for the failure was the fear scientists had to tell their truth to top leadership; it had disastrous consequences.

How do we create safety?

For individual leaders, it means self-awareness about how leadership behaviors impact others—trust or fear? It’s an awareness of one’s leadership style and philosophy, and how they affect the motivation of others.

For senior teams, safety requires confidentiality, candor, collaboration, mutual respect, and supporting each other, especially in adversity.

For organizations, it means an ownership strategy that engages the workforce, transparency and openness, rewarding team accomplishments, and recognizing the value and gifts of every individual.

The goal is to replace fear with trust as the organizational culture. The benefits will be found in increased morale, productivity, innovation, speed, agility, pride in the workplace, value to the customer, and sustained high performance.

Creating a trust-based workplace is not about leadership training, habits, or tools. It is a commitment from the inside out. It’s not always easy, but the view from the mountaintop is worth the climb.

I hope you have enjoyed this next sneak peak into our second book. If this brief look behind the door has been helpful, follow this link to order both of our books online.

And for those who want to catch up on the series, a quick reference on what’s been covered so far this month:

August 1: There’s a Reason Why We Call Them Trustees explains why being an “absentee landlord” doesn’t work.

August 2: Kill the Evening Before Dinner and take a small group of front line employees to dinner instead.

August 3: In Head of Business- Hope for the World we introduce the Winston “V” Model.

August 4: Reputation vs. Trust and why leaders should care more about the latter.

August 5: C-Suite Must Speak With a V.O.I.C.E. of Trust, a new communications model.

August 6: It Ain’t What You Do (It’s the Way You Do It) discusses an organization’s core values and traits.

August 7: Superficial CEOs and Their Boards talks about the fiduciary responsibility of board members.

August 8: Headline: Be the Leaders Others Will Follow we learn about consistency between actions and words.

August 9: Towards a Mindset for Corporate Responsibility requiring a shift in mindset on the part of boards.

August 10: Warning: Don’t Drown in the Slogan Swamp explores the (mis)use of slogans in corporate America.

August 11: Trust in the Boardroom in creating competitive advantage.

August 12: Three Ways to Build Trust  and organization that are blind to the dialogue.

August 13: Lead from the Front explains why it’s important to remove the filters between leaders and employees.

August 14: Building Trust For Boards & C-Suites and why published scientific evidence is important.

August 15: (Trust) Communication & the Hiring Process discusses engaging employees in the decision.

August 16: CEO Tip: Trust Your Board as Your Ally emphasizes the importance of trusting partnerships.

August 17: The Culture is the Secret Sauce that must bubble down from the Boardroom to the Mailroom.

August 18: Trust & Strategy Thinking reminds us that it is hard to trust when you cannot relate.

August 19: Be Proactive About Trust & Integrity: just handling problems as they arise is not enough.

August 20: Trust Traps reminds us to ask the tough questions.

August 21: Trust Danger Signs and the need for synergy between the Board and Senior Managers.

August 22: Trust & Public Rewards reminds us to publicly acknowledge and reward staff.

August 23: The Cost of Mistrust and 8 ways to develop it.

August 24: Forward-Thinking Boards Build Trust and will commit to lighthouse leadership and employee engagement.

August 25: When Trust Breaks Down: 5 Steps You Can Take to rebuild it.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She is also the editor of the award winning TRUST INC. book series. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

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Should you wish to communicate directly with Barbara, drop her a note at Barbara@trustacrossamerica.com

Copyright © 2014, Next Decade, Inc.

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Aug
16

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Late last year Trust Across America-Trust Around the World  published the first in a planned series of award-winning books.  TRUST INC., Strategies for Building Your Company’s Most Valuable Asset brings together the wisdom of 32 experts. Six months later we released our second book, Trust Inc. A Guide for Boards & C-SuitesIn this book, sixty experts have joined forces to offer 100 strategies.

Throughout the month of August, we will be featuring 31 essays from our second book. Each stands alone as an excellent resource in guiding Boards and C-Suites on driving a trust agenda at the highest level in the organization, and provides tools for those who choose to implement trust-building programs in their organization.

This sixteenth essay marks the midpoint in our series and brings advice from Bob Vanourek, the former CEO of five firms from a start-up to a billion dollar NY stock exchange turnaround. He is the co-author of the award-winning book Triple Crown Leadership: Building Excellent, Ethical, and Enduring Organizations. He is one of Trust Across America’s Top 100 Thought Leaders in Trustworthy Business Behavior and serves on its Steering Committee.  Bob’s website is www.triplecrownleadership.com 

 

CEO Tip: Trust Your Board as Your Ally

Some CEOs and boards have close, trusting partnerships that serve them and their firms extremely well. They are in my experience the minority.

Most CEOs I have met see the board as a group they need to “manage,” a dinner and meeting they need to prepare for, taking preciously valuable time away from running the business, which is the CEO’s real job. To many CEO’s, the board
is tolerated, professionally and courteously of course, but a group relatively uninformed about how hard it is to really run the business.

The time spent preparing for board meetings is huge. Staff reports prepared; rehearsals of PowerPoint presentations; after-meeting meetings to decipher what the board now wants and what to do to get ready for the next session.

What’s the solution? A change in attitude involving trust.

Boards no longer merely monitor the activities of a CEO and a firm. They can and should lead certain functions for the firm from defining the desired culture to involvement in strategy development. They can be a sounding board for the CEO on the lonely, difficult decisions he or she sometimes faces, especially in a time of crisis.

But this mind-flipping attitude change can only be based on the board and CEO viewing each other as trusted allies.

CEO tip: Trust your board as your ally. By trusting them more, they will trust you more, and performance will improve.

 

I hope you have enjoyed this next sneak peak into our second book. If this brief look behind the door has been helpful, follow this link to order both of our books online.

And for those who want to catch up on the series, a quick reference on what’s been covered so far this month:

August 1: There’s a Reason Why We Call Them Trustees explains why being an “absentee landlord” doesn’t work.

August 2: Kill the Evening Before Dinner and take a small group of front line employees to dinner instead.

August 3: In Head of Business- Hope for the World we introduce the Winston “V” Model.

August 4: Reputation vs. Trust and why leaders should care more about the latter.

August 5: C-Suite Must Speak With a V.O.I.C.E. of Trust, a new communications model.

August 6: It Ain’t What You Do (It’s the Way You Do It) discusses an organization’s core values and traits.

August 7: Superficial CEOs and Their Boards talks about the fiduciary responsibility of board members.

August 8: Headline: Be the Leaders Others Will Follow we learn about consistency between actions and words.

August 9: Towards a Mindset for Corporate Responsibility requiring a shift in mindset on the part of boards.

August 10: Warning: Don’t Drown in the Slogan Swamp explores the (mis)use of slogans in corporate America.

August 11: Trust in the Boardroom in creating competitive advantage.

August 12: Three Ways to Build Trust  and organization that are blind to the dialogue.

August 13: Lead from the Front explains why it’s important to remove the filters between leaders and employees.

August 14: Building Trust For Boards & C-Suites and why published scientific evidence is important.

August 15: (Trust) Communication & the Hiring Process discusses engaging employees in the decision.

Barbara Brooks Kimmel is the Executive Director of Trust Across America-Trust Around the World whose mission is to help organizations build trust. She is also the editor of the award winning TRUST INC. book series. In 2012 Barbara was named “One of 25 Women Changing the World” by Good Business International.

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Should you wish to communicate directly with Barbara, drop her a note at Barbara@trustacrossamerica.com

Copyright © 2014, Next Decade, Inc.

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