By: John Vakidis, Associate Client Partner – North Texas / Oklahoma, FranklinCovey
What does Leadership mean to you? I have always liked the definition, “Leadership is achieving results in a way that inspires trust.” Don’t get me wrong, I’ve seen leaders get results without focusing on instilling trust in their culture, but there are usually 3 aspects that are a direct result of that behavior:
- The results are not sustainable. Leaders cannot achieve them consecutively year after year.
- Employee Turnover. Due to the behavior of the leader, turnover is high and costly for the organization, especially when your top producers leave.
- Leadership Turnover. If the leader is not trustworthy, then often times the culture will not sustain this behavior and the leader is often let go. Unfortunately this has become more common than not.
In all 3 instances above, the organization pays a “tax” for this behavior and it directly affects the bottom line! See the “Trust Tax” model below.
In Stephen M.R. Covey’s best-selling leadership book, The Speed of Trust, he writes…
“Whether it’s high or low, trust is the “hidden variable” in the formula for organizational success. The traditional business formula says that strategy times execution equals results:
S X E = R
(Strategy times Execution equals Results)
But there is a hidden variable to this formula: trust – either the low trust tax, which discounts the output, or the high-trust dividend which multiplies it:
(S X E) T = R
{Strategy times Execution] multiplied by Trust equals Results)
Stephen explains that trust is the hidden variable that affects everything!
When you read The Speed of Trust book, you will find that Trust is a direct correlation of “Character and Competence.” Stephen breaks down trust into 4 Cores: Intent, Integrity(Character) andCapabilities & Results(Competence). If you have a trust issue in your organization, use these 4 cores to diagnose the problem(s).
Once you have diagnosed the issue at hand, you will want to address them, using The 13 Behaviors of a High Trust Leader:
- 1. Talk Straight
- 2. Demonstrate Respect
- 3. Create Transparency
- 4. Right Wrongs
- 5. Show Loyalty
- 6. Deliver Results
- 7. Get Better
- 8. Confront Reality
- 9. Clarify Expectations
- 10. Practice Accountability
- 11. Listen First
- 12. Keep Commitments
- 13. Extend Trust
Many people will first look at these and say, “We live out those aspects on our team.” When in reality, if they are having trust issues, they are probably living out the counterfeit behaviors, not the actual behaviors mention above.
For example, we all know the opposite of Talking Straight is Lying. That’s easy to see. The counterfeit of Talking Straight is beating around the bush, withholding information, double talk, flattery and spin. You are technically telling the truth, but you are leaving the wrong impression.
If you multiply the counterfeits across a large group of people in the organization, you will see how this slows things down and really costs the organization tome and money. This is the tax I was referring to earlier.
If your leaders and frontline employees apply the concepts from The Speed of Trust to your organization, you can receive trust dividends instead of paying trust taxes. These dividends include increased employee engagement, decrease in turnover, stronger collaboration and partnering, increased speed of operations and even better execution. For more information, follow this link.
Aren’t these dividends things you want in your organization? If so, then Stephen M.R. Covey strongly suggests that you as a leader should focus on trust!
Increasing trust one organization at a time,
John R. Vakidis
PS – Consider taking advantage of Dallas Regional Chamber Market Place Page for active members. Here you will find a variety of Speed of Trust training offerings and other FranklinCovey solutions available to you at a discount and online!
Copyright © 2012 – John R. Vakidis
Most of us would like to believe our opinions are formed over time by careful consideration and that decisions based on these opinions have a ring of soundness and intelligence.
The rapid growth of information technology is threatening to alter the constructs of social behavior.
The realization confronting our society today is this:
That trust is a human disposition. It does not exist in the structure of information itself nor in information systems.
Trust, although essential to communication cannot be transferred through a
channel of technology.
All America would be encouraged if today’s business leaders would reclaim
guardianship of consumer credit reporting which for the last decade has been distorting facts into opinions and opinions into beliefs.
(compilation of various sources & current definitions)