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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There is ALWAYS A Cost To A Lack Of Trust

A lack of trust is the biggest expense you have. One of the greatest global pieces of research over the last few years found countries where citizens trust each other less poverty is higher and vice versa. I was just in a country where a citizen entrepreneur does not know if they’re gonna get a license to do business in one month, one year or ever and it is costing their GDP every single day. There’s always a cost to a lack of trust.

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The #1 Reason People Want To Work For An Organization

The #1 reason people want to work for an organization last year, by the way, was ahead of everything. Ahead of being paid more, ahead of more autonomy, ahead of a more fun work environment they want to trust their leadership. If you’re in sales, which you are. It was the number one commonality desire in sales. They just wanna trust the people they buy from more than anything else. And this has been true forever.

People say to me, wow, that trust message is so timely. It’s timeless. You think about it. Sales person, it’s not a commodity, it’s the only reason you buy from them is trust. Leader, the only reason you follow ’em is trust. Teacher, your kids don’t respect the teacher, it’s ’cause they don’t trust the teacher. It’s always a trust issue. NPS is great but referring is not the core issue. Trust is the core issue, and if you solve the trust issue, you start to get referred more. That was the #1 reason people want to work for an organization.

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connect and collaborate

The ability to connect and collaborate in the new economy, we’ve gotta get better at it. Maybe the best example over the last few years is the big three automakers. Chrysler said, we’re gonna build the new high-performance transmission on our own.

GM and Ford in uncharacteristic style, fierce competitors, said we are gonna put our R&D departments together and we are gonna build the new high-performance transmission together. And they did. And they saved some hundred million dollars doing it in 90 days because they were willing to connect and collaborate. connect and collaborate

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The Value of Appreciation

The Value of Appreciation

The Value of Appreciation. I will say this, how many of you just feel so over appreciated? You’ve just had too much thanks. And yet, the greatest need of every person in all humanity, William James, philosopher said, after basic needs are met, is the need to be appreciated. One of the pieces of research we find every time in the annual study is: people are most frustrated for not being noticed for notable work.

I’m not saying appreciate people for breathing, by the way. My son, ten years old, came home, had a trophy in his hand, I can still see him right in front of me, takes it and threw it in the garbage. He wasn’t mad, he just threw it in the garbage. I said, “Isaiah, what happened?” He said, “Oh no, don’t worry dad. I didn’t earn that one. They gave one to everybody.” You’re the coolest kid. The problem is there’s people doing great things all around you, and we don’t notice that.

 

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The Power of 90 Days

First of all was before the research, I remember a mentor of mine 20 years ago said David, I want you to try something for 90 days. I want you to try not complaining one time about anything for 90 days. I wanted to complain about the idea. I took the challenge. Didn’t just change my life, it changed the trajectory of my life. In 90 days I didn’t just lose 33 pounds, I changed the way I look at food in life. 90 days is absolutely powerful because it’s short enough to stay absolutely focused and long enough to get more done than most people get done in a year. 90 days.

How to Succeed Amidst Time and Change

Atrophy is guaranteed without intentional action. Your sales are atrophying every day, your culture is atrophying every day because of two things. Change and time. So you have to keep putting the right medicine in, the right vitamins in, the right healthy things in. To get the right sales you have to put them in consistently. To get the right culture, you have to put trust building things in consistently because time and change are killing every organization every day without it.

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How to Increase Your Net Promoter Score

How do I increase my NPS, my Net Promoter Score? The Net Promoter Score is just a question of would you refer this product or service to others? There is only one way to increase your NPS, and that is by increasing trust.

You see, it’s not a referral issue, it’s not an engagement issue. You don’t get more referrals with referrals, just like you don’t get more engagement with engagement. You get more engagement with trust, you get more referrals by being more trusted.

In fact, in our last year’s annual study, the 2019 Trust Outlook, we found nine out of 10 Americans said they would not refer the product or service of an organization they don’t trust. Increase trust, increase your referrals, increase your Net Promoter Score.

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How to Have More Productive Meetings

Here is an example of David speaking to a healthcare organization about how to have more productive meetings.

 

One of the biggest healthcare organizations in North America. I’m with the top executives, we’re at a private getaway. They’ve said to me ahead of time, David we’ve had these other consultants in, but we’ve never done anything differently. David we need to do something differently, we’re losing HCAP funding, we’re losing patients. We need help doing something.

It is top executives, they’re at round tables like this, it’s just 100 of them, private location. They’ve got the letters behind their name. PhD, SVP, CEO, ADD. Got through a whole half day of Trust Edge work, they understand the eight pillar framework, we’re getting to solving problems.

This table right here, it’s the top. Top of the top. I said what pillar, if you built a little bit more of that you’d build more trust with your team or with customers. We picked one specific audience. I’ll never forget.

The team leader stood up in front of everybody and said, clarity. We need that one. We need to be more clear. I said, how you gonna do it? He sat down. He talked to his brilliant team. When he was ready, in front of everybody, he stood up and said, we’re gonna communicate more. I said, how? He sat down. He talked to his brilliant team. When he was ready, he stood up in front of everybody and said, proudly, we’re gonna hold each other accountable.

After I threw up in my mouth, I said how? He sat down. I know what that means! I’m not gonna do a darn thing I’ll blame everybody else! I said how? Finally they got to a how they’re gonna do something differently today or tomorrow.

How, How, How, How, How?

Stop having meetings where you don’t ask someone how until somebody is gonna do something differently today or tomorrow. You’re wasting our life! How, how, how? And by the way, people will argue with me. Well we can’t do anything about it, that’s a CEO, that’s a chairman, that’s them.

Every time with every group I’ve had around the world, every time, that table can get to somehow, they can do something about by next week they can start to solve that problem. We push people to create a how that they’re gonna do starting today or tomorrow. I don’t trust them unless they do.

 

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How do you build trust with yourself?

People often ask me, “How do you build trust with yourself?” And, you know, it is really hard to build trust in your team, in your organization, in your family, or anywhere else if you don’t trust yourself at all. The only way is to make and keep a commitment.

You hear the idea, love your neighbor as yourself, well, if you don’t love yourself at all, it’s hard to love your neighbor. People sometimes ask me about the weight loss when I lost over 50 pounds in five months, and, I think, one of the many things I did to try to lose that weight was I made a commitment. It wasn’t a bet, just a commitment and the commitment was to my staff.

The commitment was, “If I’m not at my high school weight by May 1st, I’ll give you $2500.” My wife was not excited about this idea but I knew I had to make a commitment. Now, what’s the problem if I wouldn’t have kept that commitment? Well, I would’ve lost trust in myself. So, making and keeping little commitments that you will keep, that’s the step to start trusting yourself more.

When you trust yourself more, you start to build that muscle so that you can build trust in others, in your team, in your organization, build trust in your family, or anywhere else. But in order to built trust with others, you have to start to be able to trust yourself. So, picking some little thing that you can make as a commitment that you will keep will help you start to build more trust with yourself.

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