The 8 Pillars of Trust

Trust: The Leading Indicator (The 8 Pillars of Trust)

According to our global study and The Trust OutlookTM, the number one question everyone is asking is “Can I trust you?”. A lack of trust is your biggest expense in business and life. Each of the 8 pillars of trust contribute to demonstrating why trust is the leading indicator.

Everything of value is built on trust. You’ll pay more for the trusted brand, follow the trusted leader, and buy from the trusted salesperson. Trust is the single uniqueness of the greatest leaders, organizations and brands of all time. Trust is the root cause. It amplifies marketing, speed of the sale, and is the only way to leverage the benefits of diversity.

 

Leading vs. Lagging Indicators

Leading indicators are typically input oriented, hard to measure but easy to influence. Lagging indicators are typically output oriented, easy to measure but hard to improve or influence. In many cases, the leading indicator is the cause of the lagging indicator.

An example of a leading indicator would be leadership competency. If the leading indicator is leadership competency- measured at the process level, the lagging indicator would be employee satisfaction, measured at the organization level.

Trust is the most important leading indicator as it is vital for driving toward any goal. Whether you are trying to increase your customer satisfaction rate or decrease attrition, trust affects the bottom line. From massive fraud in business to scandals in politics and athletics, the headlines point to a persistent problem of modern life and business—we’re lacking in trust.

So how do you build trust? Many professionals think it is as simple as increasing integrity or honesty. However, the solution much deeper and more complex than this. In order to build trust, you need to look at a much broader spectrum of ideas. The 8-Pillars of trust can assist in building the foundation for success.

The 8 Pillars of Trust- Defined

  • ClarityPeople trust the clear and mistrust or distrust the ambiguous. Be clear about your mission, purpose, expectations, and daily activities. When we are clear about priorities on a daily basis, we become productive and effective.
  • CompassionPeople put faith in those who care beyond themselves.  People are often skeptical about whether someone really has their best interests in mind. “Do unto others as you would have them do unto you” is not just an old saying. It is a bottom-line truth. Follow it, and you will build trust.
  • CharacterPeople notice those who do what is right ahead of what is easy. Leaders who have built this pillar consistently do what needs to be done when it needs to be done, whether they feel like doing it or not. It is the work of life to do what is right rather than what is easy.
  • ContributionFew things build trust quicker than actual results. At the end of the day, people need to see outcomes. You can have compassion and character, but without the results you promised, people won’t trust you. Be a contributor who delivers real results.
  • CompetencyPeople have confidence in those who stay fresh, relevant, and capable. The humble and teachable person keeps learning new ways of doing things and stays current on ideas and trends. Make a habit of reading, learning, and listening to fresh information.
  • ConnectionPeople want to follow, buy from, and be around friendsand having friends is all about building connections. Trust is all about relationships, and relationships are best built by establishing genuine connection. Develop the trait of gratitude, and you will be a magnet.
  • CommitmentPeople believe in those who stand through adversity. People trusted General Patton, Martin Luther King, Jr., Mohandas Gandhi, Jesus, and George Washington because they saw commitment and sacrifice for the greater good. Commitment builds trust.
  • ConsistencyIt’s the little things—done consistently—that make the biggest difference. If I am overweight, it is because I have eaten too many calories over time, not because I ate too much yesterday. It is the same in business. The little things done consistently make for a higher level of trust and better results.

According to the Trust OutlookTM, the number one reason people want to work for an organization was trust. Ahead of being paid more, ahead of more autonomy, ahead of a more fun work environment, they want to trust their leadership. When the 8-pillars are used together, they make up the great advantage called The Trust Edge.

Trust is the most important leading indicator. When trust increases or decreases, the lagging indicator follows. If a leader is untrusted, both employee and customer satisfaction decrease. If a brand is trusted, revenue will increase, and employee retention will become greater. It affects all aspects of business. In both situations, trust is the first thing that changes.

 

 

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6 Ways to Motivate Contribution | Trust in Leadership

6 Ways to Motivate Contribution. There are plenty of people who want to make a difference but haven’t put their vision into action. Contribution is tied to action. You have to actually do something to get anything done. A friend, author, and small business expert, Mark LeBlanc, says, “Done is better than perfect.” What a great statement. We can become paralyzed, because we want something to be perfect. I am all for excellence, but sometimes a line needs to be drawn between finished and perfect. Even while I worked on my book project, I thought of all the research that I had not shared. There are compelling stories coming out every day that are pertinent to this topic. At some point, good enough and done becomes better than perfect and not done.

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The Value of a Trusted Mentor While Surfing in Kauai | Trust in Leadership

I have dreamed of surfing since I was a teenager. One problem – I grew up in Minnesota. My state is the furthest from any ocean in North America, so waves were not easily accessible. Having been recently invited to speak on the island of Kauai, where surfing originated, this bucket-list opportunity was primed. On top of that, my wife Lisa’s childhood friend, a school teacher and surfing instructor, now lives in Kauai.

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Five Ways to Build Your Character

In order to build character in anything, you need to first notice what you are struggling with. If you are struggling with humility, find resources that can help you learn how to be more humble and practice. If you struggle with self-discipline, set goals and work towards accomplishing them in the right way.

Taking steps to build your character is no simple task. People notice those who do what is right over what is easy. It can be easy to slack off when nobody is looking and difficult to do what is right on a consistent basis. Here are five ways to build your character:

  1. Be Humble.

    Humility is the beginning of wisdom. In order to build your character, you must be open to new ways.

  2. Live out your principles and values.

    Whether it’s “love others,” or ” do the right thing,” living by your principles will make decision making easier and your character more steadfast.

  3. Be intentional.

    Integrity does not happen by accident. We are all products of our thoughts and habits. Be intentional about filling your mind with good thoughts. Create a habit of this internalizes principles and breeds high character.

  4. Practice self discipline.

    Being of high character takes the ability to do what is right over what is easy.

  5. Be accountable.

    Surround yourself with people who have high expectations. Be responsible for yourself first. Lose the pride. Open yourself up to accountability. Let others push you to high character.

Continue practicing these five tips to build your character. Realize what your shortcomings are and find different ways to improve yourself. Remember a lack of trust is your biggest expense and everything of value is built on trust.

 

Click Here to view David’s National Best Seller The Trust Edge

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-AR

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Trust is a Business Asset | Trust in Business

The impact of trust on the economy can be witnessed at the corporate level. Bear Stearns, AIG, and Lehman Brothers were at one time considered trust-based businesses. Each of these companies relied on the trust of the market to establish the firm’s value. As trust goes down, value goes down. For instance, the $236 million purchase proposal for Bear Stearns by JP Morgan Chase came just hours after Bear Stearns’ market capitalization was $3 billion. Interestingly, just over a year ago that market cap was $20 billion. As trust in the market tanks, so does the value of the business.

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Commitment to Quality and Trust | Trust in Business

Is your organization trusted for its commitment to quality? If there’s room for improvement, you might consider reading Philip Crosby’s 1979 classic Quality is Free. In this book, Crosby outlines how you can improve quality and how to build an environment where commitment in quality is essential.

Why Commitment to Quality Matters

  • Crosby sees quality not just as a set of procedures but a way of doing things – a management philosophy that starts with leadership.
  • Many organizations value quality, but they have little-to-no agreed upon measurement system.
  • Most know the cost of quality in their particular group, but not for their organization. Crosby’s research found that organization’s unaware of their quality costs had actual costs of 20% of sales.
  • He offers this 14-Step Quality Improvement Program, which he expands on in his book.

14-Step Quality Improvement Program

  1. Management Commitment
  2. Quality Improvement Team
  3. Quality Measurement
  4. Cost of Quality Evaluation
  5. Quality Awareness
  6. Corrective Action
  7. Establish an Ad Hoc Committee for the Zero Defects Program
  8. Supervisor Training
  9. Zero Defects Day
  10. Goal Setting
  11. Error Cause Removal
  12. Recognition – Awards Program
  13. Quality Councils
  14. Do It Over Again

Interaction with the 8 Pillars of Trust – Quality

  • Implementing a commitment to quality begins with the clarity pillar. Leaders must become clear on what they see as quality. Then, the leadership teams must agree on what commitment to quality means, how to measure it, and the plan to develop it. It also ends with clarity, as the entire organization becomes clear on a mindset for quality.
  • Quality is often perceived by users as a measure or indicator of an organizations character. If they consistently show high quality, we assume they have high integrity. If we see lapses or discrepancies through an organization’s services or function, they can be seen as having low character. And, if their standards for quality have negative impact on people, we question the other side of character – their morality.
  • Low quality or inconsistent quality steers employees and customers away in many circumstances, because of a perception of competence. Who wants to buy hire a lawyer that wins few cases?
  • Organizations that consistently deliver high quality are known for it. We see them as having a commitment to quality. Think of Ritz-Carlton. Their brand speaks of excellence of quality because it’s experienced throughout the world at their hotels. We know the people that work there have a mindset that’s committed to the maximum quality of your stay.
  • The more commitment to quality, the more growth through the quality stages, and the further on in the stages, the more money saved. Those who are committed to preventing errors in customer and product requirements save on money, time, and brain damage. You can imagine the mad scramble of fire fighters when wind spreads fire to another direction in a forest. This reactionary style which young and old companies have, can be prevented with a clear quality program. If your company lacks one, it could be something to consider.

Click Here to view David’s National Best Seller The Trust Edge

Click Here to visit our YouTube Channel

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Godin & Sackner-Bernstein on Contribution | Trust in Leadership

What does age have to do with being a big contributor?

Einstein said if you don’t make a major impact in your industry before 30, you probably won’t.

Sackner-Bernstein shows research that disproves this, showing how previous similar explanations were based on a lesser understanding of the brain. In a nutshell, age is an advantage and we must not use anything to let ourselves off the hook for making a difference in society.

Read and watch here.

The Impact of Compassion | Trust in Business

Who do you trust more, firefighters or mortgage brokers? Librarians or lawyers? Nurses or salespeople? One of the biggest reasons for trust is the perception that someone is concerned beyond themselves for the good of the whole. Firefighters and nurses care for others by nature of their jobs. But we wonder if the salesperson really has our best interest in mind. Don’t worry if you are in a less trusted line of work. Resolve to be among the trusted in your field. Show that you think beyond yourself; you will be unique and successful in your industry. 

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Great Leaders Take Responsibility | Trust in Leadership

I have seen time and again how the committed take responsibility for their actions. In our high-litigation culture, there’s always someone else to blame. It can be easy to point the finger at suppliers, underlings, partners, and managers that just can’t seem to get things right. I have yet to meet this mass of completely incompetent workers, which leads me to think we might be trying to steer some of the fault away from where it belongs–on ourselves.

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