building trust in the workplace 2014 presentation
TRANSCRIPT
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Building Trust2014
The Latest Insights onTrust in the Workplace
© Interaction Associates
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Presenters
Linda StewartPresident & CEO
Andy AtkinsChief Innovation Officer
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Low public trust in business ‘does not extendto workers’ own firm’
Government and corporate trustextremely low among Millennials
People's trust in each other and confidence in society'sinstitutions has declined, especially in the last decade
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Today’s Presentation
1. Some quick definitions and context2. Dive into the 2014 data3. A tool to help you/your organization build
trust
4© Interaction Associates
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Need assistance? Call MemberServices (866) 538-1909 or email
Survey Context 2009-2011
5© Interaction Associates Inc.
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trust (n.) a willingness to put yourself atrisk based on another person’s actions
Trust
AlignedPurposeAlignedPurpose
ExpertiseExpertise
PastExperience
PastExperienceBasis of Trust
Readiness to Trust
Willingness to Trust
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Poll QuestionWhat of these describes the levelof Trust in your organization?
1. Complete lack of trust.2. More mistrust than trust.3. Equal levels of trust and mistrust.4. Fairly strong trust; little mistrust.5. Extremely strong levels of trust.
7© Interaction Associates Inc.
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Survey Snapshot2014
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520 leaders at more than 290global organizations
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10© Interaction Associates Inc.
"High PerformingOrganizations"are organizationswhose revenuesgrew more than5% over thelast year.
High Performing Companies
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“Low PerformingOrganizations" areorganizationswhose revenuesshrank, or grewless than 5%, overthe last year.
Low Performing Companies
PM5
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Up to 5%improvement Stagnant: no change
5-10% improvementMore than 10%improvement
REVENUE: 2014 vs. 2013
HIGH PERFORMING
LOW PERFORMINGNegative (loss)
42%
9% 15%
25%
10%
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Trust Leaders are more than2½ times more likely to be
High Performing Organizationsthan Trust Laggards.
High Trust = High Performance
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High TrustMeans High
RevenueGrowth!
TrustLeaders
TrustLaggards
60%
40%
85%
15%
Low PerformingOrganizations
High PerformingOrganizations
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When employees have a high level oftrust in management and the
organization, the company becomessignificantly better at
achieving its business goals.
High Trust = Goal Achievement
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High Trust = Goal Achievement
Customer loyaltyand retention
Competitive marketposition
Exhibiting corecompany values
Predictable business& financial results
Profit Growth
84%54%
48%76%
82%46%
38%74%
65%39%
High-trust
All others
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Poll QuestionDoes your organization measureemployee engagement now?1. Yes2. No3. Don’t know
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Poll QuestionAre you satisfied with theengagement survey results you aregetting?1. Yes2. No3. Don’t know
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2x!
Our employeesview their jobs asa means to apaycheck; ifanotheropportunity camealong, they wouldtake it.
Our employees aresatisfied with thecompany; they seeit as a good placeto work. Few wouldbe motivated toseek another job.
Our employees arehighly engagedand are committedto their professionand jobs;employees willinglyexpenddiscretionary effortto achieve results.
In addition to being highlyengaged, our employeesare actively involved andshare responsibility forthe organization’ssuccess; managersprovide meaningfulopportunities foremployees to give inputand/or participate indecisions that affectthem.
Disengaged PassivelyEngaged
Engaged Involved
24% 7%
0% 20% 40% 60% 80% 100%
HPGOs
LPGOs
26% 39% 20%16%
28%41%21% 10%
Engagement, Involvementand Profitability
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Engagement/Involvement and Retention Gap:All Respondents – Net Effectiveness at
Retaining Key Employees
13%
37%
53%
70%
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Trust in Business Survey2014
21© Interaction Associates Inc.
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1. Trust Rebounds Again2. Trust Drives Innovation3. Direct Reports Can Build
Trust, too4. Virtual Workers Have
Their Own Trust Needs5. Top 5 Leadership Actions
that Build Trust
Five KeyFindings
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Trust Rebounds Again
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To what degree do the following statements describe yourorganization?
All Respondents: Organizational Culture
45% 43% 42%38% 36% 34%31% 32%
27%
My organization haseffective leadership
My organization is highlycollaborative.
Employees have a highlevel of trust in
management and theorganization.
2014 2013 2012
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My organization has effectiveleadership.
To what degree do the following statements describe your organization?(% describes extremely/very well)
58% 56% 56%64%
56% 58%
31% 29% 26%
40% 39% 37%
High Performing vs. Low Performing
My organization is highlycollaborative.
Employees have a high levelof trust in management and
the organization.
HPO Profit LPO Profit
2013 2014 2013 2014 2013 2014 2013 2014 2013 2014 2013 2014
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Trust Drives Innovation
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Trust Drives Innovation
• 35% of all companies surveyed see themselvesas “innovative.”
BUT
• 65% of respondents from Trust Leaderscharacterize their organization as “innovative.”
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Trust Drives InnovationThis is true for just 31% of non-Trust Leaders,and 14% of low-trust organizations.
65% 31% 14%Percent ofrespondentswho call theircompany“innovative”
Trust Leaders Trust Mid-level Trust Laggards© Interaction Associates
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Trust Drives Innovation
Respondents in the low-trust categorycount “innovation” as a bottom-threepriority for their organizations.
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Trust Drives Innovation
Of all those we surveyed, eight in ten report thata high level of trust in others fosters innovationand investment in new projects.
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Trust Drives Innovation
People and teamscan take risks (i.e.people are 'allowedto fail' and learnfrom their mistakes)
85%
25%
Percentage answering “StronglyAgree” and “Agree.” Trust Leaders Trust Laggards
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Direct Reports & Trust
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Trust in direct reports went up this year for23% of respondents.
82% of all respondents say trust in directreports is essential to being effective in theworkplace.
© Interaction Associates
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2014Top 5ActionsDirectReports canUse to BuildTrust
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Keep the boss up to date on thestatus of work not yet completed.(44% agree)Ask clarifying questions whenassigned tasks. (39%)Make suggestions aboutimprovements to the team,department, or organization. (33%)Admit mistakes promptly. (33%)Listen and respond to feedback.(29%)
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Virtual Workers & Trust
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Virtual Workers
Those who work virtually 41%or more.48%
21%
14%
8%6% 3%
Don’t know
Up to 20% of time spentworking virtually each week
21-40% time spentworking virtually eachweek
41-60%
61-80%81-100%
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Employees have ahigh level of trustin managementand theorganization.
37%
52%Percent who say thisdescribes their company“extremely/very well.”
Those who workvirtually up to 40% of
the time.
Those who workvirtually more than
40% of the time.
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Virtual Workers
Most peoplereport that
virtual workingdoes not affect
trust.
8%
31%
62%
No difference
Trust co-locatedworkers more
Trust virtualworkers more
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Virtual Workers
Virtual workers are more likely than non-virtualworkers to report that team leaders should:
1) reveal thinking about important issues,
2) remind team members of their commonpurpose, and
3) create clear working agreements.
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40% of virtual workers urge leaders tohold occasional face to face meetings;it is by far their preferred method ofbuilding trust.
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Five top actions Leaders cantake to Build Trust Now
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Most respondents (85%) reporttrust in their bosses is essential
to successful workplaceperformance.
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Unfortunately….
26% of respondents trust their bossesless than they did in 2013.
The Senior Leadership team also tooka hit on trust: 25% of those wesurveyed trust them less than lastyear.
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1. Ask for my input on decisionsthat affect me. (37%)
2. Give me background info so Ican understand your decisions.(33%)
3. Set me up for success withlearning and resources. (27%)
4. Admit your mistakes. (26%)5. Don’t punish people for
raising issues – that is, don’tshoot the messenger. (25%)
2014Top 5LeadershipActions toBuild Trust
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45
% Describes extremely/very well
Leadership isconsistent,
predictable andtransparent intheir decisions
and actions.
TRUST LEADERS NON-LEADERS
29%
96%
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Act to be transparentin decision making byseeking maximumappropriateinvolvement.
WhatYOU CanDo Now
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Levels of Involvement
47
Leve
lof O
wne
rshi
p
Level of Involvement
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Levels of Involvement
48
Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
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Levels of Involvement
49
Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
Gather Inputfrom
Individualsand Decide
©
© Interaction Associates
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Levels of Involvement
50
Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
Gather Inputfrom
Individualsand Decide
Gather Inputfrom the
Group andDecide
©
© Interaction Associates
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Levels of Involvement
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Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
Gather Inputfrom
Individualsand Decide
Consensus
Gather Inputfrom the
Group andDecide
*Fallback can be to any other level
©
© Interaction Associates
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Levels of Involvement
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Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
Gather Inputfrom
Individualsand Decide
Consensus
DelegateWith
Constraints
Gather Inputfrom the
Group andDecide
*Fallback can be to any other level
©
© Interaction Associates
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Levels of Involvement
53
Leve
lof O
wne
rshi
p
Level of Involvement
Decideand
Announce
Gather Inputfrom
Individualsand Decide
Consensus
DelegateWith
Constraints
Gather Inputfrom the
Group andDecide Factors to Consider
Time available.Importance of decision.Information needed.Need for buy-in.Capability.Building Teamwork.
*Fallback can be to any other level
©
© Interaction Associates
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Poll QuestionWhat level of involvement do you seemost often in your organization?
1. Decide and Announce.2. Gather input from individuals & decide.3. Gather input from the group & decide.4. Consensus.5. Delegate with constraints.
54© Interaction Associates Inc.
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Our 2014 Reportwill be out in just a few weeks!
Download atinteractionassociates.com
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Questions?
Linda StewartPresident & CEO
Interaction Associates
Andy AtkinsChief Innovation OfficerInteraction Associates
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Thank you!