Building on the annual 2023 Edelman Trust Barometer Global Report, this blog leans in to Incite’s core purpose: to help leaders achieve their greatness. Specifically, the role of trust in leadership and how as business leaders we can all contribute to increasing trust within our own organizations and the broader community. Now, more than ever, leaders bear great expectations and responsibility thanks to the faith of their employees.
Trust is the glue that holds any organization together, and in the realm of leadership, it’s the cornerstone that determines success or failure. Trust is not merely a soft and intangible concept but rather a measurable and concrete factor that significantly impacts organizational performance.
Trust in one’s employer drives employee engagement; engaged employees are more likely to be productive and committed to the organization’s goals. More than that, employees who trust their leaders and colleagues are more likely to share ideas, provide feedback and collaborate effectively.
Trust empowers employees to take calculated risks without fear of retribution. In a trusting environment, individuals are more likely to step outside their comfort zones and innovate, leading to growth and progress, which is crucial for staying competitive in today’s rapidly changing business landscape.
And the bottom line? A PwC study found that CEOs who actively work to build trust within their organizations have a higher chance of achieving revenue growth.
Successful leaders actively work on building trust within and outside of their organizations. Being consistent, honest and transparent increases credibility and contributes to trust. Leaders should take responsibility for their actions and decisions. Holding oneself accountable demonstrates integrity, which, you guessed it, builds trust.
Trust enables leaders to communicate a compelling vision and long-term strategy for the organization. Employees are more likely to buy into these visions when they trust their leaders’ intentions and abilities. Especially when they know their leaders are also genuinely committed to employee well-being in addition to organizational outcomes.
So how do leaders achieve their greatness? While it looks different for everyone, trust is one of the building blocks that sets the stage. Incite works with leaders to help create an environment of trust through an honest and transparent approach that reinforces our collective mindset of putting people first. Relationships guide everything we do and allow us to build and strengthen our business, clients and community in a way that benefits everyone. Our focus on culture and engagement fosters productive and successful teams.
In the realm of leadership, trust is not a mere luxury; it is a necessity. Trust impacts organizational success, employee engagement, innovation and financial performance. Trust empowers leaders to create collaborative environments, foster innovation and promote employee well-being. It is the foundation of great leadership.
Aspiring leaders, take note: if you aim to lead effectively, invest in building and maintaining trust. It is the keystone of leadership, and necessary on your journey to success. Trust your team, and they will trust you in return, creating a virtuous cycle of growth and prosperity for your organization.