{"id":801604,"date":"2020-02-06T09:00:57","date_gmt":"2020-02-06T08:00:57","guid":{"rendered":"https:\/\/www.ie.edu\/insights\/?post_type=articles&p=801604"},"modified":"2020-11-17T09:22:01","modified_gmt":"2020-11-17T08:22:01","slug":"trust-and-its-power-of-attraction","status":"publish","type":"articles","link":"https:\/\/www.ie.edu\/insights\/articles\/trust-and-its-power-of-attraction\/","title":{"rendered":"Trust and its Power of Attraction"},"featured_media":802107,"template":"","meta":{"_has_post_settings":[]},"schools":[29,33,35],"areas":[20,24],"subjects":[421,420],"class_list":["post-801604","articles","type-articles","status-publish","has-post-thumbnail","hentry","schools-business-school","schools-human-sciences-and-technology","schools-university","areas-human-behavior","areas-strategy","subjects-humanities","subjects-managing-people"],"custom-fields":{"wpcf-article-summary-enable":["1"],"wpcf-article-summary":["Today\u2019s professionals want to find meaning in their work. A company\u2019s culture and impact on society and the environment do not go unnoticed. A climate of trust and well-being is a powerful magnet for attracting talent. When a company\u2019s purpose and values are aligned with those of its employees, hard work comes naturally. Values provide direction. Trust and respect have to come from the top. Corporate messaging\u2014both internal and external\u2014is more important than ever. The key to staying relevant is to create a connection with customers and employees on the basis of solid values."],"wpcf-article-leadin":["The economic model for organizations, people, and countries has traditionally been based on growth and consumption. However, this model is both unfulfilling and bad for the planet. Young professionals expect more of their workplace: they crave trust and purpose, and they want to have a positive impact on society."],"wpcf-article-body":["If you ask an astronaut what capacities and values are necessary for a successful mission, the answer is likely to include various soft skills\u2014the most important of which is trust. No wonder: when a rocket lifts off, the astronauts\u2019 lives quite literally depend on the work of thousands of strangers.\r\n\r\nTrust is the foundation of an organization: it guides the leader, undergirds customer relations, and fuels talent<\/a> attraction and retention. This \u201ctrust triangle\u201d takes work, both internally and externally. Within the organization, it is essential to cultivate a climate of well-being. With regard to the outside world, corporate messaging influences customer perceptions and the organization\u2019s ability to recruit top professionals.\r\n\r\nTrust is based on three pillars: logic, authenticity, and empathy. Logic refers to the need for credibility, which can be based on trustworthy data. However, authenticity and the ability to connect are essentially human<\/a> qualities.\r\n\r\nThe perfect trust combination is linked to a sense of purpose. Beyond a certain salary threshold, alignment with values and a purpose is the key to motivating employees to give the best of themselves.\r\n\r\nAttracting and retaining talent<\/a> is a headache for organizations in many sectors. Building an environment of well-being and trust is fundamental in order to find the right people and stay relevant as a firm.\r\n
Trust is based on three pillars: logic, authenticity, and empathy.<\/blockquote>\r\nThe attraction of trust<\/strong>\r\n\r\nAccording to the 2018 Edelman Trust Barometer,<\/em> 70% of a CEO\u2019s work involves building trust, either within the ranks of the company or among customers.\r\n\r\nWhen it comes to trust, today\u2019s organizations face a major challenge. Companies in every sector are becoming increasingly technological<\/a>. In the banking industry, for example, young people handle most of their transactions on mobile devices and rarely set foot in a branch office. Organizations must recalibrate their message and clarify their purpose, so as not to become mere software companies. They must maintain close relationships with their customers, while at the same time attracting the professionals they need.\r\n\r\n \r\n\r\nCulture and well-being<\/strong>\r\n\r\nHow can companies attract, engage, and retain talent<\/a>? According to Deloitte, today\u2019s professionals value purpose and meaning in their work like never before. The ideal job is fair; it requires growth<\/a> and passion; and it involves collaboration, personal relationships, and transparency.\r\n\r\nTalented<\/a> candidates want more than just a salary; corporate culture matters to them. Organizations must spend more time reflecting on their culture, since this factor influences everything else down the line. Culture plus well-being equals better performance.\r\n\r\nProfessionals also take note of a company\u2019s impact on society and the environment. Naturally, they prefer to work for companies that trust them and are worthy of their trust\u2014organizations whose purpose and values are aligned with their own. Values provide direction. Trust and respect have to come from the top. When people feel valued and motivated, hard work comes naturally.\r\n\r\nThanks to social media, a company\u2019s reputation\u2014good or bad\u2014is now common knowledge. Corporate messaging\u2014both internal and external\u2014is therefore more important than ever. The key to staying relevant is to create a connection with customers and employees on the basis of solid values.\r\n\r\nLeaders must strike a balance between making decisions for employees to implement and trusting employees to develop their own action proposals.\r\n
Values provide direction. Trust and respect have to come from the top.<\/blockquote>\r\nKey questions<\/strong>\r\n\r\nWhat is your organization\u2019s purpose? What is its legacy? How can it engage talent<\/a>? How can the company, and its products or services, earn customers\u2019 trust? Every organization must address these key questions\u2014 and the answers make all the difference.\r\n\r\nBefore it\u2019s too late, let\u2019s take a page from the startup playbook: failure is a learning opportunity. Carve out spaces for experimentation and flexibility within your organization, with no expectation of any particular result and no performance measurements, just for the sake of opening up new channels and seeing how they work.\r\n\r\nChange is not easy, and it depends on your organization\u2019s state of development. Nevertheless, you can and should commit to trust, values, and sustainability. If you cultivate a climate of well-being and define a clear purpose, then people will align with your organization and place their trust in it. This is your best shot at staying relevant in the future.\r\n\r\n \r\n\r\n\u00a9 IE Insights."],"wpcf-article-extract-enable":["1"],"wpcf-article-extract":["By Balvinder Singh Powar<\/strong>. The economic model for organizations, people, and countries has traditionally been based on growth and consumption. However, this model is both unfulfilling and bad for the planet. Young professionals expect more of their workplace: they crave trust and purpose, and they want to have a positive impact on society."]},"_links":{"self":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/articles\/801604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/articles"}],"about":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/types\/articles"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/media\/802107"}],"wp:attachment":[{"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/media?parent=801604"}],"wp:term":[{"taxonomy":"schools","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/schools?post=801604"},{"taxonomy":"areas","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/areas?post=801604"},{"taxonomy":"subjects","embeddable":true,"href":"https:\/\/www.ie.edu\/insights\/wp-json\/wp\/v2\/subjects?post=801604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}