{"id":3815,"date":"2018-03-07T11:57:56","date_gmt":"2018-03-07T16:57:56","guid":{"rendered":"http:\/\/www.trustacrossamerica.com\/blog\/?p=3815"},"modified":"2018-03-07T11:57:56","modified_gmt":"2018-03-07T16:57:56","slug":"elevating-trust-on-the-board-in-the-c-suite","status":"publish","type":"post","link":"https:\/\/www.trustacrossamerica.com\/blog\/?p=3815","title":{"rendered":"Elevating Trust on the Board & in the C-Suite"},"content":{"rendered":"

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At Trust Across America-Trust Around the World we remain steadfast in our belief that trust is not a soft skill, nor should it be taken for granted. It is a tangible asset that impacts the bottom line.<\/a><\/p>\n

Many of our colleagues believe that trust is a top down function, starting at the Board and flowing down through the organization. This means that both the Board and C-Suite must be trustworthy in order for their stakeholders to trust them.<\/p>\n

We asked our Trust Alliance<\/a> members and Top Thought Leaders<\/a> to weigh in and the following are some “best practices” for elevating trust on both the Board and in the C-Suite.<\/p>\n

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To earn trust, an enterprise must have a strong corporate character<\/strong> \u2013 the unique differentiating identity that expresses its essence. Boards should be focused on \u2013 and demand management accountability for \u2013 the factors that contribute to corporate character. They include mission, purpose, values, culture, strategy, business model and brand.<\/em><\/p>\n

Roger Bolton<\/strong> is the president of the Arthur W. Page Society<\/a><\/p>\n

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In order to ensure your corporate viability over time, and to effectively build trust with all stakeholders, it is crucial that strong alignment<\/strong> exists between your business agenda and societal expectations. \u00a0As captured in the popular line from Fiddler on the Roof, “on the other hand, there is no other hand” – running your enterprise in the face of societal expectations just won’t cut it. \u00a0Not anymore. \u00a0<\/em><\/p>\n

Douglas Conant<\/strong> is the Founder & CEO of Conant Leadership<\/a><\/p>\n

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Just handling problems as they arise isn\u2019t enough. The Conference Board calls for being proactive<\/strong> about business integrity and compliance critical for senior management, and even more so for boards of directors. If we manage corporate integrity based on reacting to problems, by the time we react, the problems are usually very difficult to manage. Being proactive about corporate integrity keeps CEOs and Boards focused on prevention and not cleanup. <\/em><\/p>\n

Linda Fisher Thornton<\/strong> is CEO of Leading in Context LLC<\/a><\/p>\n

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We\u2019ve all seen the press release. It goes something like this: <\/em><\/p>\n

\u201cWe regret that the actions of a single rogue employee, Mr. BadGuy, were contrary to the values<\/strong> of this company. Our\u00a0long \u00adestablished principles of integrity, honesty, truth, motherhood, and apple pie have been offended by the\u00a0scandalous acts of Mr. BadGuy. We condemn the actions of Mr. BadGuy. Mr. BadGuy has left the building.\u201d<\/em><\/p>\n

In reality, the Rogue Employee excuse serves as an enabler, allowing Boards and CEOs to avoid asking tough questions like \u201cwhy did our compliance program fail to detect or prevent this misconduct?\u201d and \u201cwhat failures in our culture and by our management allowed this problem to develop?\u201d <\/em><\/p>\n

When trouble knocks, compliance-savvy companies should retire the Rogue Employee excuse and instead enquire more deeply within, before others compel them to do so. <\/em><\/p>\n

Donna Boehme <\/strong>is Principal, Compliance Strategists<\/a><\/p>\n

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Kill the \u201cevening-before\u201d executive team or board dinner. Instead, take a small group of front-line or mid-level employees to dinner in an informal setting, without the presence of other corporate executives. People are forthcoming, thoughtful, and engaging<\/strong> (to say nothing of appreciative).<\/em><\/p>\n

Sign up for those \u201cGoogle Alerts\u201d or other independent news alerts to keep abreast of what others are saying or hearing or reading about the organization.<\/em><\/p>\n

See the entity through the eyes of a new employee, be it via sitting quietly through a live new-employee orientation or its online equivalent.<\/em><\/p>\n

Robert Galford<\/strong> is a Managing Partner of the Center for Leading Organizations<\/a><\/p>\n

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A company that wants to build trust should listen to the public dialogue<\/strong> about itself and its industry, identify what drives perceptions, and share information throughout the organization to influence decision-making.<\/em><\/p>\n

What the organization says about itself: The company\u2019s leaders and spokespeople should articulate (authentically) the positive impact their work has on society. In times of crisis they should express empathy and commitment to resolving the situation. <\/em><\/p>\n

People expect organizations to be savvy about the conversation going on around it. Organizations that are blind to the dialogue, and only communicate outward are unlikely to build and maintain the trust required to be a respected and trusted business in the modern world.<\/em><\/p>\n

Linda Locke<\/strong> is a Senior Vice President at Standing Partnership<\/a>.<\/p>\n

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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<\/strong>.<\/em><\/p>\n

Bob Vanourek<\/strong> is a former public company CEO and the founder of Triple Crown Leadership <\/a><\/p>\n

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Best advice: boards must develop their own robust crisis plans prior to any crisis. They must enumerate what kinds of actions will be taken for different issues: their crisis strategies and philosophies, the speed at which they will work, and who on the board will be designated to play first string, even if — especially if — the Chair or CEO is implicated in some way.\u00a0<\/em><\/p>\n

Reputation<\/strong> is becoming one of the top priorities of corporate boards. The best way to protect reputation, and trustworthiness, is to plan before any crisis hits, adjust strategies in real time to fit the specifics of a crisis, and then for the board to execute its plan fearlessly.\u00a0<\/em><\/p>\n

Davia Temin<\/strong> is the CEO of Temin & Company<\/a><\/p>\n

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Three prevailing archetypes of board dysfunction: the ego-driven board, the polite surrender board, and the micromanaging board. The protocols for authentic conversation, which require the right conditions for trust to develop, include:<\/em><\/p>\n