What is trust?
- Trust is a basic requirement for all human activity.
- Trust connotes optimism.
- To demonstrate trust, you must show faith in someone or something else.
- Trust implies voluntary vulnerability.
- Trust means taking risks, often before you have proof of reciprocity.
- Trust implies “enlightened self-interest.”
- Trust is the social lubricant that eliminates friction. Trust is reciprocal: If you trust people, they usually trust you in return.
- Trust enables productive teamwork and cooperation.
- Protocols, procedures and compliance manuals are of little value in the absence of trust, and suspicions, paranoia and cynicism abound.
This required us ceding control of a certain aspect of our life to another person, institution or organization and when trust disappears, interactions break down. Plus, trust is vital in today’s peer-to-peer (P2P) economy, with people increasingly sharing such resources as “cars, boats and apartments.”
However, with one act of deceit, trust can vanish, forever.
“Trust is the number-one leadership competency needed today, principally because of how it affects every other competency leaders need to have.”
Stephen M.R. Covey
“Trust builds over time, fostered not only by decency but also by enlightened self-interest, a recognition that trust works to everyone’s benefit.”
The Necessary Elements of Trust
Trust doesn’t just happen because it depends on active initiation. People must earn trust because it simply cannot be demanded.
Employees in “high-trust” organizations work together in a cooperative, agreeable atmosphere because they respect and believe in each other. Shared trust or ‘nurtured trust’ is essential in achieving important goals. High-trust organizations almost with certainty will outperform “low-trust” organizations marred by people who argue, backbite and steal others’ work.
In the long run, high-trust leaders prevail over low-trust leaders.
3 Crucial Factors that breed Trust
- “Character” – The people you trust believe that what is important to you will be important to them.
- “Competence” – The people you trust have the expertise to attain goals that matter to you.
- “Authority” – The people you trust deliver on what they promise.
3 Forms of Trust
- “Reciprocal”– This is mutual trust between people who love or care for one another, such as family members and close friends.
- “Representative” – This is trust among people who depend on each other, such as clients who rely on their lawyers or patients who rely on their doctors.
- “Pseudo–trust” – This is counterfeit trust that develops among people, such as business associates, whose interests align temporarily but who don’t share real respect.
Categories: Reading Notes