The Hindu Business Line : Trust, an economic need

The most important clincher of success is trust, says Joe Healey in Radical Trust ( www.landmarkonthenet.com). “Managers who are capable of building high trust dramatically increase their ability to lead, to create loyalty, to retain talent, and to foster creativity. Conversely, I have seen extraordinarily talented people greatly reduce their success because they are not good at building trust.”

The economic value resulting from building trust is simple, he says: “Talented people are more productive and tend to stay around longer if they have bosses they can trust.”

Also, high trust increases the pace or speed of change. In contrast, low trust slows down plan implementation, owing to ‘resistance to change, higher cost of change, and far more burnout.’

There is a ‘business case for trust,’ urges Healey. Because the topic has ‘switched from being a moral choice of more upstanding leaders to an economic necessity in the way managers lead.’ Trust can be built, he assures. And, ‘like digital technology, trust can create profound improvements in productivity.’

Rather than fear, it is trust that can work better in today’s competitive climate, which demands ‘ creativity, knowledge sharing, problem solving, and diverse talent,’ the author finds.

A major shift is underway, he observes. “Organisations are being forced to embrace the idea of being a partner instead of a boss. While fear is the primary currency of a boss, trust is the primary currency of a partnership.”

The book talks about four competencies that build radical trust, viz. character, execution, communication, and loyalty. A must-read for managers.

D. Murali

http://BookPeek.blogspot.com

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Trust, an economic need