Building Trust in the Workplace 2014 Presentation

Building Trust2014

The Latest Insights onTrust in the Workplace

© Interaction Associates

Presenters

Linda StewartPresident & CEO

Andy AtkinsChief Innovation Officer

Low public trust in business ‘does not extendto workers’ own firm’

Government and corporate trustextremely low among Millennials

People's trust in each other and confidence in society'sinstitutions has declined, especially in the last decade

Today’s Presentation

1. Some quick definitions and context2. Dive into the 2014 data3. A tool to help you/your organization build

trust

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Survey Context 2009-2011

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trust (n.) a willingness to put yourself atrisk based on another person’s actions

Trust

AlignedPurposeAlignedPurpose

ExpertiseExpertise

PastExperience

PastExperienceBasis of Trust

Readiness to Trust

Willingness to Trust

Poll QuestionWhat of these describes the levelof Trust in your organization?

1. Complete lack of trust.2. More mistrust than trust.3. Equal levels of trust and mistrust.4. Fairly strong trust; little mistrust.5. Extremely strong levels of trust.


Survey Snapshot2014


520 leaders at more than 290global organizations


"High PerformingOrganizations"are organizationswhose revenuesgrew more than5% over thelast year.

High Performing Companies


“Low PerformingOrganizations" areorganizationswhose revenuesshrank, or grewless than 5%, overthe last year.

Low Performing Companies

PM5

Up to 5%improvement Stagnant: no change

5-10% improvementMore than 10%improvement

REVENUE: 2014 vs. 2013

HIGH PERFORMING

LOW PERFORMINGNegative (loss)

42%

9% 15%

25%

10%

Trust Leaders are more than2½ times more likely to be

High Performing Organizationsthan Trust Laggards.

High Trust = High Performance


High TrustMeans High

RevenueGrowth!

TrustLeaders

TrustLaggards

60%

40%

85%

15%

Low PerformingOrganizations

High PerformingOrganizations

When employees have a high level oftrust in management and the

organization, the company becomessignificantly better at

achieving its business goals.

High Trust = Goal Achievement


High Trust = Goal Achievement

Customer loyaltyand retention

Competitive marketposition

Exhibiting corecompany values

Predictable business& financial results

Profit Growth

84%54%

48%76%

82%46%

38%74%

65%39%

High-trust

All others

Poll QuestionDoes your organization measureemployee engagement now?1. Yes2. No3. Don’t know


Poll QuestionAre you satisfied with theengagement survey results you aregetting?1. Yes2. No3. Don’t know


2x!

Our employeesview their jobs asa means to apaycheck; ifanotheropportunity camealong, they wouldtake it.

Our employees aresatisfied with thecompany; they seeit as a good placeto work. Few wouldbe motivated toseek another job.

Our employees arehighly engagedand are committedto their professionand jobs;employees willinglyexpenddiscretionary effortto achieve results.

In addition to being highlyengaged, our employeesare actively involved andshare responsibility forthe organization’ssuccess; managersprovide meaningfulopportunities foremployees to give inputand/or participate indecisions that affectthem.

Disengaged PassivelyEngaged

Engaged Involved

24% 7%

0% 20% 40% 60% 80% 100%

HPGOs

LPGOs

26% 39% 20%16%

28%41%21% 10%

Engagement, Involvementand Profitability


Engagement/Involvement and Retention Gap:All Respondents – Net Effectiveness at

Retaining Key Employees

13%

37%

53%

70%

Trust in Business Survey2014


1. Trust Rebounds Again2. Trust Drives Innovation3. Direct Reports Can Build

Trust, too4. Virtual Workers Have

Their Own Trust Needs5. Top 5 Leadership Actions

that Build Trust

Five KeyFindings


Trust Rebounds Again


24

To what degree do the following statements describe yourorganization?

All Respondents: Organizational Culture

45% 43% 42%38% 36% 34%31% 32%

27%

My organization haseffective leadership

My organization is highlycollaborative.

Employees have a highlevel of trust in

management and theorganization.

2014 2013 2012


My organization has effectiveleadership.

To what degree do the following statements describe your organization?(% describes extremely/very well)

58% 56% 56%64%

56% 58%

31% 29% 26%

40% 39% 37%

High Performing vs. Low Performing

My organization is highlycollaborative.

Employees have a high levelof trust in management and

the organization.

HPO Profit LPO Profit

2013 2014 2013 2014 2013 2014 2013 2014 2013 2014 2013 2014

Trust Drives Innovation



• 35% of all companies surveyed see themselvesas “innovative.”

BUT

• 65% of respondents from Trust Leaderscharacterize their organization as “innovative.”


Trust Drives InnovationThis is true for just 31% of non-Trust Leaders,and 14% of low-trust organizations.

65% 31% 14%Percent ofrespondentswho call theircompany“innovative”

Trust Leaders Trust Mid-level Trust Laggards© Interaction Associates


Respondents in the low-trust categorycount “innovation” as a bottom-threepriority for their organizations.



Of all those we surveyed, eight in ten report thata high level of trust in others fosters innovationand investment in new projects.



People and teamscan take risks (i.e.people are 'allowedto fail' and learnfrom their mistakes)

85%

25%

Percentage answering “StronglyAgree” and “Agree.” Trust Leaders Trust Laggards


Direct Reports & Trust


Trust in direct reports went up this year for23% of respondents.

82% of all respondents say trust in directreports is essential to being effective in theworkplace.


2014Top 5ActionsDirectReports canUse to BuildTrust


Keep the boss up to date on thestatus of work not yet completed.(44% agree)Ask clarifying questions whenassigned tasks. (39%)Make suggestions aboutimprovements to the team,department, or organization. (33%)Admit mistakes promptly. (33%)Listen and respond to feedback.(29%)

Virtual Workers & Trust


Virtual Workers

Those who work virtually 41%or more.48%

21%

14%

8%6% 3%

Don’t know

Up to 20% of time spentworking virtually each week

21-40% time spentworking virtually eachweek

41-60%

61-80%81-100%

Employees have ahigh level of trustin managementand theorganization.

37%

52%Percent who say thisdescribes their company“extremely/very well.”

Those who workvirtually up to 40% of

the time.

Those who workvirtually more than

40% of the time.

Virtual Workers

Most peoplereport that

virtual workingdoes not affect

trust.

8%

31%

62%

No difference

Trust co-locatedworkers more

Trust virtualworkers more

Virtual Workers

Virtual workers are more likely than non-virtualworkers to report that team leaders should:

1) reveal thinking about important issues,

2) remind team members of their commonpurpose, and

3) create clear working agreements.

40% of virtual workers urge leaders tohold occasional face to face meetings;it is by far their preferred method ofbuilding trust.

Five top actions Leaders cantake to Build Trust Now


Most respondents (85%) reporttrust in their bosses is essential

to successful workplaceperformance.

Unfortunately….

26% of respondents trust their bossesless than they did in 2013.

The Senior Leadership team also tooka hit on trust: 25% of those wesurveyed trust them less than lastyear.

1. Ask for my input on decisionsthat affect me. (37%)

2. Give me background info so Ican understand your decisions.(33%)

3. Set me up for success withlearning and resources. (27%)

4. Admit your mistakes. (26%)5. Don’t punish people for

raising issues – that is, don’tshoot the messenger. (25%)

2014Top 5LeadershipActions toBuild Trust


45

% Describes extremely/very well

Leadership isconsistent,

predictable andtransparent intheir decisions

and actions.

TRUST LEADERS NON-LEADERS

29%

96%

Act to be transparentin decision making byseeking maximumappropriateinvolvement.

WhatYOU CanDo Now


51

Leve

lof O

wne

rshi

p


Decideand

Announce

Gather Inputfrom


Consensus


Group andDecide

*Fallback can be to any other level

©



52

Leve

lof O

wne

rshi

p


Decideand

Announce

Gather Inputfrom


Consensus

DelegateWith

Constraints


Group andDecide


©



53

Leve

lof O

wne

rshi

p


Decideand

Announce

Gather Inputfrom


Consensus

DelegateWith

Constraints


Group andDecide Factors to Consider

Time available.Importance of decision.Information needed.Need for buy-in.Capability.Building Teamwork.


©


Poll QuestionWhat level of involvement do you seemost often in your organization?

1. Decide and Announce.2. Gather input from individuals & decide.3. Gather input from the group & decide.4. Consensus.5. Delegate with constraints.


Our 2014 Reportwill be out in just a few weeks!

Download atinteractionassociates.com

Questions?

Linda StewartPresident & CEO

Interaction Associates

Andy AtkinsChief Innovation OfficerInteraction Associates

Thank you!

Building Trust in the Workplace 2014 Presentation

Business

Transcript of Building Trust in the Workplace 2014 Presentation