Why trust matters?
Building trust matters as it has a direct impact on your performance. 3 tangible reasons why trust matters are:
- Higher revenue
Steven R Covey and Douglas R Grant in their 2016 HBR article published their study of Fortune 500 companies that high trust organizations beat the average annualized returns of the S&P 500 by a factor of three.
- Increased engaement
2018 Gallup study of 10,000 individuals indicates that when employees don't trust organizational leadership, their chances of being engaged are one in 12. But when that trust is established, the chances of engagement skyrocket to better than one in two. That's more than a six-fold increase.
- Higher performance
According to the Gallup study, trust in the workplace increases speed and efficiency and, ultimately, performance.