Saw an interestng article in ASTD’s Training and Development Magazine. The article discussed an new report by consulting agency Interaction Associates, titled “Building Trust in Business”. Significantly, the study — conducted with 211 business leaders from 150 companies — reported a strong correlation between high performing companies and those that reported high levels of trust, effective leadership, and collaboration. Says one consultant at Interaction Associates: ” There is an interrelationship between trust and collaboation that creates a virtuous cycle.”
Some of the outcomes of a trust-based work culture include:
- Customer Loyalty
- Top-line revenue growth
The point: you can have the best busines plan…superior funding for your initiatives…but if you don’t create the proper “relationship environment”, you’ll never make headway financially.