[FEATURE]
TRUST
A CRITICAL FACTOR FOR
BUSINESS GROWTH
Signifi cance of Trust
Rakesh Seth
Chief HR Mentor, Corporate Trainer,
Author, and Visiting Faculty
T
he article briefl y discusses the importance of
trust. If the trust-based culture is prevalent
in an organisation, it is likely to grow faster
than its competitors, while if the trust is missing, the
organisational growth will be slow. Trust is invisible and
can be felt in relationship and seen through the business
results. Building trust-based culture for an organisation
is a huge challenge.
In this uncertain and disruptive world, the
challenge is to establish, grow, and restore trust with
all stakeholders — customers, co-workers, suppliers,
bankers — is the key leadership competency of the new
digital economy.
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What is trust? I will take the opportunity to use words
of Jack Welch. He said, “You know it when you feel
it.” Simply put, trust means confi dence. The difference
between a high-trust and low-trust relationship is
noticeable. For example, take communication: in a
high trust relationship, you can say the wrong thing
and people will still get your meaning. In a low-trust
relationship, you can be very precise, even measured,
and they will still interpret you in their own way.
With the emerging emphasis on ethics and results in
our society, leaders in the organisations will be tested
on three dimensions — character, competence, and
commitment to build their credibility. Trust is created
through results and results matter. In the words of Jack
Welch, having results is like having ‘performance chits’
on the table, they give you clout.
In the real world of business trust becomes a
dividend and tax. Trust is important for people and
organisational productivity. Without trust, you are
| Vol. 9 Issue 6 • Sep-Oct 2018, Noida / Pre-Event Edition