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Posts Tagged ‘CEO’

May
14

Taken from this week’s “Rebuilding Trust” headlines…

Facebook promises to rebuild trust via a “feel good” marketing campaign.

Boeing hints that perhaps a name change is (not) in order. There’s been “no discussion” of a name change, Johndroe said, including dropping “Max” and referring to the jet family by product numbers such as 737-8.

Danske Bank picks a new CEO and states, without details “We have a big task ahead of us in continuing to rebuild trust,” Danske Bank Chairman Karsten Dybvad said in a statement.

 

Who is doling out all this misdirected advice? And what does rebuilding trust even mean?

Ad campaigns, name changes and new CEOs are not the solution. Trust is internal and interpersonal, and is built from the inside out. It is an intentional and holistic business strategy that is practiced and reinforced daily starting at the very top and impacting every stakeholder group. As we have seen with almost every corporate crisis in the past, putting a Band-Aid on the elephant in the room doesn’t heal the wound. It just covers it up.

And why do these business leaders, and their respective “advisors” believe that trust was present in the past and now needs to be rebuilt? When was the last time trust building was a proactive agenda item at the Board level or in the C-Suite in any of these organizations? Until a deliberate acknowledgement is made that “perception of trust” is no replacement for trust itself, the “headlines” will repeat themselves, and the proposed solutions will not only be very costly, but ultimately lead nowhere. The crisis will blow over and it will be “business as usual.” No need to utter the “T” word again.

For authentic leaders who want to build trust from the inside out, please visit our website and read more about our new diagnostic, AIM Towards Trust.

Copyright 2019, Next Decade, Inc.

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Apr
01

Trust Across America has been writing about Wells Fargo and making public suggestions to leadership on how to fix the Bank’s low trust since 2016, apparently to no avail.

The recent “trust building” communications “horse and pony” show was predictably a huge and expensive fail.  Anyone with even a basic understanding of organizational trust knows that trust is internal and must be built from the inside out, not through a PR campaign. So now the sudden resignation of the current CEO comes as no surprise to us, nor does the appointment of the “interim” CEO who “by chance” happens to be a lawyer.

Over the weekend we asked members of our cross functional Trust Council to weigh in on the actions required to right what appears to be a sinking ship. We appreciate the thoughts of our Council members who took the time to weigh in.

Acknowledge trust as a hard asset: Do not assume that trust is a “soft skill” and do not attempt a fix via exclusive input from legal and compliance. Form a cross-silo team to attack low trust with the support of the “right” Board members, possibly necessitating some “reshuffling” at the highest level. In other words, clean house.

Make trust building the first priority: A foundation of trust must be built before culture can be fixed. 

Be accountable: Embrace responsibility and accountability and avoid the deadly Watergate sin of tip-toeing up to the line but not crossing it, perpetuating the sense of cover-up. You’ve got to own it—and then some.

Measure what matters: Assess the current level of stakeholder trust and use this baseline to begin attacking the weaknesses. What can be measured can be managed.

Practice and reinforce values: Saying or printing them is mere cant. You’ve got to propagandize them, talk about them in application to specific instances, hold leaders accountable for a quota of such applications.

Model humility: Place truth-telling ahead of personal or professional gain.

Be transparent: Reject hidden agendas and be transparent wherever and whenever possible.

Hire and fire: Nothing builds trust faster than firing and hiring people. Hire/fire/promote on visible demonstrations of the bank’s values. Cull out the middle managers who still think they can get away with hiding unethical behaviors. 

Erase fear: Drive out fear and ensure every voice is heard and every trust breach is fully investigated. “The absence of fear is the incubator of trust.” Reward moral character and reinforce candor.

Track performance:  Define and scorecard performance against both values and value.

Perhaps the most difficult question came yesterday when someone asked me “Who would want the job of CEO?” That’s a tough one. Hiring another banker may not even be the best solution as finance is not generally considered an industry to exhibit high trust behavior. Regardless, the hope is that whoever the brave soul is who steps in to take the position begins their tenure by first acknowledging that trust is internal and must be elevated from the inside out. Only then can the required culture work begin.

PS- CNN just (attempted to) weigh in on how the bank can end the crisis. They may want to go back to the drawing board and craft a followup article.

For more information and tools to elevate trust, head over to our website at www.trustacrossamerica.com

Copyright 2019 Next Decade, Inc.

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Jan
31

This past week the World Economic Forum held its annual meeting at Davos and the global elite were buzzing like bees around the word “trust.” 

Overlapping was another meeting being held in a remote corner of NJ (of all places), perhaps because the “polar vortex” was about to ground the attendees’ private jets. This gathering was called “Sovad so Good” or “Sovad” for short.)

For those unfamiliar with the annual Davos event, it’s by “invitation only,” and even those who secure an invite might not be able to afford the cost of admission. Most badges require a membership to the World Economic Forum, which costs somewhere between $60,000 and $600,000, plus an additional fee of more than $27,000 per person to get into the conference. (CNBC, January 25, 2019)

Worth noting: Of the 3000 attendees almost 800 were Americans and 22% were women, up from 21% last year! Less than 5% of S&P 500 CEOs are women—that’s just 24 companies. We can’t know how many of those 24 were invited to the event in Davos, but the official attendance list includes four of their names: Heather Bresch, CEO of Mylan N.V.; Adena Friedman, CEO of  Nasdaq Inc.;  Vicki Hollub, CEO of Occidental Petroleum Corp.; and Ginni Rometty, CEO of IBM. Quartz, January 21, 2019

Sovad (the other Davos) didn’t include the high price tag (or any admission fee for that matter), nor the “A” list of celebrities like Matt Damon or Will.i.am, and side deals were not being done off stage, probably because there was no stage. (Over 50% of the SOVAD group is women.) No large “trust signs” were erected at the entrance to our gathering like the one leading up to Davos. It was just too darn cold for anyone to want to climb a ladder, especially those in skirts.

CNN reported, ‘Trust is the new buzzword at Davos,” and as Dana Carvey “The Church Lady” liked to say on SNL, “Well isn’t that special.” (Dana and I lived together at one time but that’s a topic for another post.) So what was all the Davos “buzz” on trust about? These were the trust “themes:”

  1. Rebuilding trust (think Facebook.) Sheryl Sandberg was the trust “expert” on this subject.
  2. Trust and technology (digital security, AI, blockchain, etc.)
  3. Trust and innovation
  4. Trust and sustainability
  5. Trust and CEOs “taking stands.”

To the attendees at Davos these are certainly important revenue generating discussions to be having. But do they actually get to the heart of trust, or even move the needle slightly to elevate societal trust? That’s a solid “No.”  Here’s why.

It seems only one trust conversation was missing at Davos, and probably the most important one: How do we move our societal institutions from trust buzz to trust action? And that was the ONLY conversation at Sovad.

So while the fine food and drink flowed, and the planes stayed warm on the tarmac in Switzerland, the Sovad attendees arrived by auto and took the following action over a burger and a beer:

With no revenue generating agenda, we created 12 universal principles for elevating trust and began asking those who didn’t travel to Europe, how that “trust thing” is working in their organization. After all, isn’t that where trust starts (and ends)? Apparently, we struck a chord as over 35,000 unassuming folks from around the world have joined the conversation.

Will you take our brand new (one question/one minute) survey? Find out how your organization compares to others.

Note: Some believe that this year’s gathering was a disappointment on many fronts. Perhaps the word “trust” was simply a placeholder until a “real” topic can be identified for 2020. Kenneth Rogoff, the Harvard economist, summed it up: “This is the flattest Davos I can remember. Normally, there is a star country or a star industry that everybody is talking about. But this year, there is nothing.”

Could it be that the “nothing” has “something” to do with trust?

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and 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. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. Don’t forget to TAP into Trust!

For more information contact barbara@trustacrossamerica.com

Copyright(c) 2019, Next Decade, Inc.

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Jan
08

Trust Across America-Trust Around the World’s free

2019 Calendar and Poster

provide ideas to start the trust discussion.

Will 2019 be the year when you become an enlightened leader?

Register to receive these tools via the home page of our website.

 

If you have any questions, comments or ideas, we are here to listen.

Copyright 2019, Next Decade, Inc.

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Dec
29

Around this time every year, the news “treats us” to the top leadership failures, and 2018 is certainly no exception. “The trust buck” certainly stopped on the CEO’s desk at Facebook, Uber and Theranos, to name just a few.

While the media may continue to believe that only “bad” sells,  I launched Trust Across America-Trust Around the World more than ten years ago, with one objective of directing attention to the “good” because their stories rarely get told. Perhaps they are just too “good” to get air time, and just maybe the media is ignoring the stories that people want to hear.

This list is not about CEOs taking stands, feel good philanthropy, “check the box sustainability” or CSR projects, but rather about high integrity leaders who believe that a long-term holistically trustworthy strategy will positively impact ALL stakeholders.

Top Ten Stories of 2018

(presented alphabetically)

  • *Chip Bergh runs Levi Strauss and continues his focus on building a long-term culture with great success. (And BTW: Chip and I share the Lafayette College alma mater.
  • Many people like to throw darts at Jeff Bezos at Amazon for “disrupting” retail, yet he also gives back in a big way. This is his newest preschool initiative.
  • Larry Fink Blackrock’s CEO rattled the business world in his letter to CEOs by announcing a new model for corporate governance.
  • David Kleis is St. Cloud Minnesota’s longest serving Mayor, who, over the past 3 years, has been hosting monthly dinners at his house and almost 700 town halls to get to know his constituents, complete with a mobile bus!
  • *Rose Marcario at Patagonia is using the company’s $10 million tax break to help save the planet.
  • *David Reiling is CEO of St. Paul-based Sunrise Banks. Under his leadership, Sunrise became Minnesota’s first bank certified as a community development financial institution, a legal benefit corporation, and a member of the Global Alliance of Banking on Values. As David says “At the end of the day, if the community succeeds, we will be able to thrive along with them.”
  • Physician Kylie Vannaman runs MDPCA (Midwest Direct Primary Care Alliance) a group that is buying back medical bills from those who cannot afford to pay them.
  • Martin Van Trieste, a former Amgen executive is the CEO of Civica RX. Never heard of them? This mission driven company plans to stabilize the soaring costs of prescription drugs.
  • Bob Wilson an 89-year old California business owner just wrote 1085 checks, each for $1000. Find out why.
  • Jeff Yurcisin, a former Amazon executive who recently became president of Zulily, talks about why trust is the #1 leadership imperative.

Let’s celebrate these trustworthy leaders and their organizations. Let’s work together to continue to build organizational trust in 2019.

* Chip Bergh, Rose Marcario and David Reiling also appeared on this list in 2018.

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.

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Dec
22

In celebration of the 10th anniversary of Trust Across America-Trust Around the World, our global Trust Alliance “elves” have spent the year hammering away at new (and free) tools to elevate organizational trust in any organization regardless of size, location or industry.

We are happy to provide our readers with “12 days of organizational trust resources.”

  1. Our special TRUST! Magazine spring issue focused on the intersection of trust and good governance. It’s a gem and should be read by every Board member everywhere!
  2. Several members contributed to our growing case study library called Trustlets.
  3. Dozens of hours of collaboration lead to the publication of TAP (Trust Alliance Principles) 
  4. Our “Million Taps” campaign launched with an inaugural group of fifty signatories. As of this moment 29,544 global professionals have accessed TAP, with thousands joining our movement ever month.
  5. Through our global network, TAP is now available in 16 languages. Our readers can download the translations at no cost.  EnglishArabicChineseDutchFinnishFrenchGermanHebrewHindiItalianJapanese , Portuguese (Brazilian)RomanianRussianSpanish, and Swedish
  6. The July issue of TRUST! Magazine focused on TAP with many Alliance members weighing in. 
  7. Our first annual Country Trust Index was published with the help of our global members. The index was the most popular download on our website in November. Switzerland wins!
  8. The 4th annual Showcase of Service Providers was published in October, featuring the work of some of our members.
  9. This “2 pager”  can be accessed under the Research tab on our website. It is a sample of the material contained in our 10th anniversary report “Trust & Integrity in Corporate America” made possible by the Alliance warriors working collaboratively to elevate trust during the past 10 years.
  10. Our members contributed to the publication of many articles on various organizational trust topics.
  11. With the help and support of our members, our 9th annual Top Thought Leaders in Trust nominations  have been a huge success. Honorees will be announced in the winter issue of TRUST! Magazine at the end of January 2019.
  12. Our 2019 calendar “Building High Trust Teams” is now available simply by registering for our Constant Contact mailing list. It is the beginning of Phase #2 of TAP with monthly discussion questions provided to elevate trust in your team during 2019.
Our website welcomes over 20,000 visitors every month. If you use our resources and would like us to continue to provide more at no cost in the future, please consider making a donation so that our elves can maintain their tools in tip top shape in 2019.
Our plans for 2019? Our Trust Alliance members will be building and benefiting from a new tool every month throughout the year!
May 2019 be the “Year of Trust.”
Barbara Brooks Kimmel, CEO & Cofounder
Copyright 2018, Next Decade, Inc.

 

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Dec
07

Ten years ago, in the wake of the financial crisis, I undertook a study of organizational trust. Ten years later, and with the assistance of hundreds of global experts, I offer the following observations gleaned over the past decade.

Organizational trust is built over time and in incremental steps. There are simply no shortcuts.

Trust facts:

Organizational trust is an “inside out” strategy built through…

  1. A shared purpose and tactical vision acknowledging all stakeholders, not just shareholders
  2. A high integrity/high accountability board and CEO
  3. Long-term and corporate-wide intentional trust building strategies
  4. Daily reinforcement
  5. Hiring (and firing) in accordance with corporate values
  6. Rejection of hidden agendas
  7. Vulnerability and a willingness to admit mistakes
  8. Transparency, truth telling and promises kept
  9. Rewarding moral character
  10. Trust measurement and tracking

Recently my colleagues and I have witnessed some “sloppy” use of the word “trust” via short-term thinking attempts to provide quick and easy illusory measurements and solutions.

Trust Fiction:

Trust is not built through…

  1. Delegation of trust building to middle management or online ethics training modules
  2. Expensive and slick PR or “branding” campaigns
  3. CEO activism unrelated to the business
  4. CSR “one off” projects and ESG “check the box” practices
  5. Self-fulfilling surveys, reports and “best of” awards
  6. Philanthropy
  7. Empty apologies, lots of talk and little action
  8. Social media “strategies” and buzz words
  9. More rules and larger legal departments
  10. Short-term share price action

There are no short-term solutions to building a trustworthy business. Attempting to cut corners not only wastes time and resources but damages reputation.  For those Boards and CEOs who want to learn more, check back next week when we offer 12 free tools to elevate trust in every organization, regardless of size, industry or location.

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and 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. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. Don’t forget to TAP into Trust!

For more information contact barbara@trustacrossamerica.com

Copyright(c) 2018, Next Decade, Inc.

 

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Nov
06

(A condensed version of this article first appeared on The FCPA Blog)

Recently, the newly appointed CEO of Novartis, Vas Narasimhan, announced that he would be linking employee bonuses to ethics as part of a strategy to rebuild the company’s reputation. Specifics of the scoring system were not divulged. This raises some interesting questions in the trust, ethics and compliance community. Among them, is it ethical to pay people to act ethically or is it a form of bribery? Will these bonuses elevate ethical behavior? What is the minimum “acceptable” behavioral standard to receive a bonus? We asked Trust Across America’s 12-member Trust Council to weigh in. Some of their best answers from both a macro and micro perspective, are provided below.

Ethics is a Company Wide Issue

At Datron, we spend a lot of time in the FCPA world as over 90% of our business is conducted outside the US.  We find that ethics is a company wide issue that encompasses not only your employees but also any organization that represents us in the marketplace.  We have not taken the route of rewarding ethical behavior at the employee level.  We spend the money on training, both in the compliance area and in the “servant” leadership area to ensure that everyone understands the company mission, purpose and how our behaviors (values) are reflected in the work we do.  In our multi-cultural company with over 80 representatives around the world we take compliance to all entities that interface with our customers at any level.  This means that our annual FCPA training is required and annual anti-bribery statements are completed by both employees and our representative companies.  In addition we require all of our representatives to hold current Trace International certifications.  If these items are not completed as required we don’t do business with that organization and don’t let our employee interface with the customer.

In general I would recommend that leaders know what would work best for their organizations.  I personally would not take the approach Novartis has taken just because paying money for a required behavior is too much like a bribe and I believe it sends the wrong message to the organization.  It also says that it is ok to act unethically we just won’t provide you a bonus if you do.  I think requiring behavior in accordance with the company values is a better long-term solution.

I believe that a focus on culture, understanding why it is important for the organization to conduct itself in accordance with it’s core values and spending training dollars to ensure this each and every day is a better investment than providing an annual bonus award.  Art Barter

Influencing Human Behavior

This approach is a good idea for Novartis. We can’t change human nature—there will always be some unethical people. But we can influence human behavior. We influence human behavior through many means: education and training, personal examples and role models, good leadership, shared norms and values, rewards and punishments, and more. Good companies reward (or punish) employees with scoring systems for both achieving goals (results) and “how” those goals are achieved. Scoring a 1 on values and behavior at Novartis (1 = below expectations) makes an employee ineligible to receive a bonus and likely signals they may face demotion or termination. It is a realistic way to grab people’s attention that unethical behavior will no longer be tolerated at this firm. Bob Vanourek

Systematizing Ethical Practices

I applaud Novartis’ efforts to encourage and systematize ethical behavior. Behaving ethically should be the “ticket of admission” for even having a job, but many organizations don’t view it that way. Novartis is taking proactive steps to enforce consequences for salespeople who don’t meet expectations. Randy Conley

Innovation is Key

To determine the best ways to make progress on the trust, transparency and ethics road we have to innovate. To develop proven, repeatable and scalable strategies we all have to be bold enough to try. Novartis is trying. We don’t know the context or risk appetite they are working from so it is hard to objectively review their strategy. To innovate well we have to accept failure and partial successes, learn, pivot and go at it again. The fact that organizations are trying is, in my mind, the thing of value. They will engage in many critical conversations around this project and that dialogue with their employees, partners and board is priceless in the fight for ethics. Deb Krizmanich

Discussing Ethics

Ethical performance — good or bad — is an intrinsic aspect of organizational culture, While company value statements, codes of conduct and compliance training are essential components of an ethical culture, even more important is how organizations react to ethical dilemmas and lapses.  When discussions about ethics are taboo, and individuals are rewarded for unethically achieved results, the culture quickly adapts to this reality without regard to official policy.  In this respect, Novartis is on the right track by explicitly withholding rewards for employees who behave unethically.  Even more telling will be whether discussion of ethics is normalized and unethical behaviors consistently derail careers at the company. Barton Alexander

Payments for Behaving Ethically

There is something prima facie anti-ethical about paying people money to behave ethically. If you have to be paid to be ethical, you’re not. And by reducing ethics to behavioral inducements, the system devalues the ethicality of all actions, regardless of their objective desirability. This reduces ethics to the category of compliance and sales quotas. Charles H. Green

The Devil is in the Details 

Whether the Novartis plan is a good idea to resolve the ethical dry rot is debatable. The devil is in the details, but I would raise a caution flag.  Essentially they are saying that meeting expectations or being a role model for ethical behavior will earn employees extra pay, while not meeting expectations means you get no extra pay, and it could lead to termination. I also do not agree that bringing in Klaus Moosmayer from Siemens to be the ethics tsar is going to make up for poor leadership at the top. Bob Whipple

A further Internet search of the Novartis bonus “plan” revealed the following “anonymous” comment:

This has been in place for over two years. Probably just touting this in the news because of all the recent violations. Reps don’t get an additional bonus. They have money withheld from each bonus period and if their manager sees fit and gives them a good rating, they may or may not get all the money back. So Novartis actually takes money and holds it for a year. Some reps get back more but a lot will actually get back less. The kicker is, they have to still be employed to get that money and it’s only paid out once a year and it’s supposed to be about values and behaviors but it’s still tied to sales. 

The Trust Council jury is split with regard to the ethics of ethics bonuses. To be meaningful ethics and trust must remain a top-down strategy built from the inside out, and only then will they have a long-term impact on organizational reputation.

Trust Across America-Trust Around the World’s Trust Council is an invitation-only advisory group comprised of global business leaders and consultants from a broad cross section of industries and functions who are rotated through membership in our Trust Alliance. The Council serves for twelve months.

Barbara Brooks Kimmel is an award-winning communications executive and the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and 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. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. Don’t forget to TAP into Trust!

For more information contact barbara@trustacrossamerica.com

 

 

 

 

 

 

 

 

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Aug
12

Why should Boards and their CEOs focus on building stakeholder trust? Our FACTS® Framework calculates the trustworthiness of US based public companies, and we have issued an annual report of our findings since 2012.

On average, the “Top 10″ most trustworthy public companies have outperformed the S&P 500 by over 30% annually. 

That’s why.

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and 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. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. For more information contact barbara@trustacrossamerica.com

Copyright (c) 2018, Next Decade, Inc.

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Aug
04

A simple message for the C-Suite…

Rules, regulations and policies are not substitutes for trust, ethics or corporate responsibility.

I would like to pose one question to each of the following five CEOs whose organizations hijacked my time this week:

JP Morgan Chase and Jamie Dimon: Do you think your policy of cancelling a widow’s credit card within two weeks of the death of their spouse, and with no notice, is the “right thing” to do simply because they are not the “primary?” It hasn’t been too long since you lost your parents. What if it was your mother who had been embarrassed at CVS over an $8.00 purchase on her Chase credit card?

Comcast and Brian Roberts: If I must have a landline for Triple Play, might you have an ethical responsibility to find a way to stop the dozens of robocalls that plague me every day? Surely, the expense of doing so would be far less than the “intangible” customer loyalty that could be quickly built.

Wolverine and Blake Krueger: Do you want to build or bust trust with your customers?  Your reps are demanding that I first buy a new pair of Sperrys online, cut the tongues out of my existing loafers, send you a picture, and then your company will reimburse me for YOUR shoes that fell apart 4 weeks after purchasing them. Why would I EVER buy another pair of shoes from you again?

State Farm and Michael Tipsord: When did you decide that cutting corners in hiring and training, (and probably hourly wages) in your claims department was “good” ethics, and do they get a bonus for making stuff up?

Blue Cross of NJ and Kevin Conlin (who recently replaced Robert Marino:) Do you care that your customers are miserable because you get so few things right? The most recent example being when you denied coverage because “another policy was in place” even though a termination letter was provided to you. A simple check of your internal records would have revealed that the “old” policy was also with YOUR company. Now the loyal customer has NO coverage due to your internal snafu.

Trust Across America-Trust Around the World and its Trust Alliance has recently published a set of universal Principles called TAP. One of the 12 principles is Purpose:

We engage our stakeholders to build shared purpose – we avoid short term “wins” that undermine future success.

You can read more about TAP in the latest issue of TRUST! Magazine.

After 10+ years of studying organizational trust, one thing is for certain. Trust and ethics are a “top-down” strategy. Without buy-in from the CEO, watch out below and “buyer beware.” The silver lining…not all companies (or their leaders) are created equal. Some have proactively embraced elevating stakeholder trust and ethics, and they are reaping the long-term rewards.

Who do you think will be the first of the five CEOs to publicly respond? Do you have any examples (good or bad) that you would like to add to this list?

Barbara Brooks Kimmel is the CEO and Cofounder of Trust Across America-Trust Around the World whose mission is to help organizations build trust. A former consultant to McKinsey and 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. In 2012 she was named one of “25 Women who are Changing the World” by Good Business International, and in 2017 she became a Fellow of the Governance & Accountability Institute. Barbara holds a BA in International Affairs and an MBA. For more information contact barbara@trustacrossamerica.com

Copyright (c) 2018, Next Decade, Inc.

Photo Attribution: Alpha Stock Images – alphastockimages.com/

 

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