In 2021, people started to trust business organizations more than governments, NGOs or the media, according to global research by the Edelman Trust Baraometer. The Covid pandemic has seen people around the globe question their trust in all forms of leadership. What impact does this have on business leaders? Can organizations rebuild trust? What are the building blocks of trust?
Sandra Sucher, co-author of “The Power of Trust: How Companies Build It, Lose It, Regain It” (https://amzn.to/3pny7Uu) draws back the layers of what trust actually is, how to build it, how to maintain it through adversity, and most importantly, how to rebuild it when it’s been shattered.
Along with her co-author, Shalene Gupta, Sandra has devised the four key foundations of trust; competence, motives, means and impact. We ask Sandra about the significance of these steps, how they can be harnessed, as well as the impact on trust that Covid has had, specifically how vaccine mandates have affected it. Throughout our conversation and her book, Sandra illustrates her insights with a plethora of rich business examples.
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(3:03) Welcome and speed round question.
(5:00) Trust is limited.
(7:38) The 4 key elements of trust.
(13:09) Does forgiveness play a part in regaining trust?
(14:54) How trust can be preserved by an organization, even while laying people off - the Nokia example.
(25:30) How has the landscape of trust changed and what effect has the pandemic had on trust?
(30:27) The link between lack of trust in government and vaccine hesitancy.
(33:49) The trust implications of asking employees to get vaccinated.
(36:26) People actually trust a negative outcome, if they feel the process was fair.
(39:37) What makes a business a good place to be from?
(45:39) Grooving Session discussing what we’ve learnt from Sandra.
© 2021 Behavioral Grooves
Sandra Sucher, “The Power of Trust: How Companies Build It, Lose It, Regain It”: https://amzn.to/3pny7Uu
Esko Aho, Nokia: https://en.wikipedia.org/wiki/Esko_Aho
Amy Edmondson, Psychological Safety: https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6451
Edelman Trust Barometer: https://www.edelman.com/trust/2021-trust-barometer
Shalene Gupta: https://shalenegupta.com/
“Worried About the Great Resignation? Be a Good Company to Come From” by Sandra J. Sucher and Shalene Gupta: ttps://hbswk.hbs.edu/item/worried-about-the-great-resignation-be-a-good-company-to-come-from
Recruit Holdings in Japan: https://recruit-holdings.com/
Episode 102, Cristina Bicchieri: Social Norms are Bundles of Expectations: https://behavioralgrooves.com/episode/cristina-bicchieri-social-norms-are-bundles-of-expectations/
Aretha Franklin “R.E.S.P.E.C.T.”: https://www.youtube.com/watch?v=6FOUqQt3Kg0&ab_channel=TatanBrown