Culture, Trust And Leadership

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Oxytocin, biscuits and expensive cars

Culture, trust and leadership workshop

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Culture, Trust And Leadership

  1. 1. Culture, trust and leadership Lunch & Learn M&G
  2. 2. Facts about trust in business• 50% of employees don’t trust their executives (leadership teams) Blessing White (2010)• 48% of people looking for a new job cite loss of trust in their organisationas the key reason for wanting to leave.• 46% specifically identify lack of transparency as a key issue• 40% being treated unfairly or unethically• 36% of employees feel trust has decreased since beginning of downturn Deloitte workplace survey (2010)
  3. 3. Trust destroyers vs. builders• Self-interest • Interest of others• Inconsistency • Do as you say• Spin VS • Tell the truth• Injustice • Same rules apply• Incompetence • Deliver• Unethical acts • Moral compass
  4. 4. Why should we care?Impact on business…Engagement:• Trust is directly related to engagement, the more trust, the more engaged Blessing White (2010)Absenteeism:• Employees who distrust their leaders are 7 times more likely to report they are physically or mentally unwell and four times more likely to leaveKenexa work trends report (2012)Trust and bottom line results:• Tracking 100 Best Companies over 10 year period, those companies outperformed the stock index, posting annual returns of 11% vs. 4.5% Amy Lyman (2003/2012)
  5. 5. External…Customers:• 75% of consumers will actively avoid buying from an organisation they distrust and 85% will go out of their way and pay more to buy from a company they trust - Edelman trust barometer 2012
  6. 6. Low & high trustLow:• Secrecy, defensiveness, territorial behaviour, fear of speaking out• Unfair performance management/remuneration, failure to deal with key issues or concernsHigh:• Clarity: Strong sense of shared purpose and customer focus• Commitments: High levels of engagement and team work to support that purpose• Collaboration: Tolerance and cooperationarehighly valued• Coach: Leaders coach rather than simply manage• Connection: Stronger relationships between management and team members
  7. 7. Expensive carsGreater status (real or imagined) & greater wealth trigger sense of entitlement and reduce compassion
  8. 8. Why?• Elevated status = less dependent = less connected = less empathic = less compassionate• Majority – not just a few• Instrumental in ‘moral & trustworthy’ behaviour• Reluctance in leaders to engage = goes unchecked• Perpetuating and detrimental consequences
  9. 9. What can we do about it?Placing trust, integrity and sustainability firmly on the agendaLady Susan Rice, MD Lloyds Banking GroupThe future of financial servicesRecapturing trust and integrityAway from:Capital – competition – compensation - controlsTowards:Customers – colleagues – community – conscience - careCustomers, employees, social mediaClients taking conscious action
  10. 10. Examples Leadership level Management level Employee level

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