The Speed of Trust |

The Speed of Trust

.The Speed of Trust

The One Thing That Changes Everything

Published by:

Simon & Schuster, 2006
By Stephen M R Covey
And Rebecca R Merrill

The content of this book provides a framework for understanding the nature of trust and why it is such a crucial element in all human interactions. Numerous illustrations are given, together with strategies for building and restoring trust.

The author, Stephen M R Covey, begins by explaining why trust is so important in business and in life. Low trust causes friction, creates hidden agendas and disrupts activities in all areas. It leads to interpersonal conflicts, interdepartmental rivalries, exploitative behaviours, even wars. In short, lack of trust makes conditions intolerable.

“Whether you’re on a sports team, in an office or a member of a family, if you can’t trust one another there’s going to be trouble.”

- Joe Paterno, Head Football Coach, Penn State University -

Simply put, trust means to have confidence in someone. Distrust, the opposite of trust, is suspicion. With the absence of trust, people engage in self-protective behaviours. Lack of trust is like a primitive tax on a business. The presence of trust is likened to a dividend.

The key to understanding of trust, and the extent of it, is to consider the “five waves of trust”. These waves may be likened to ripples in a prond. They are:

Wave # 1: Self trust

This wave addresses the trust we have in ourselves. To be trusted we must have credibility and that means we need to be trustworthy.

Wave #2: Relationship trust

The key principle here is consistent behaviour. Lack of behavioural consistency makes people feel insecure, not knowing what will come next.

Wave # 3: Organisational trust

Organisational trust occurs when there is openness, transparency and alignment between divisions, units and structures.

Wave # 4: Market trust

The underlying principle behind this wave is reputation. A good reputation is the capstone of a strong brand.

Wave # 5: Societal trust

This is about creating value for people generally, and society at large. The underlying principle of the fifth wave is contribution, making a positive difference to the lives of groups of people. Having identified the five waves of trust, Covey goes on to describe the core attributes of trust.

Self Trust

The first wave of trust is about credibility. Credibility is the foundation of self-trust. It’s about acquiring the integrity that allows people to believe in you.

Personal credibility is based on four core attributes:

i) Integrity

This is the demonstration of genuineness and honesty. It is the elimination of guilt and deceit. Integrity boils down to a simple question:

“Am I trustworthy?” or to put it another way, “Am I someone others can trust?” For others to believe in you, you must believe in yourself and follow-through on your own commitments. Research shows that most people don’t do this: only about eight percent of Americans honour their New Year Resolutions. The result of repeated failure to make and keep personal commitments is a drop in self-confidence. A lack of self-confidence breaks down self-trust which, in turn, undermines our ability to trust others. Cardinal de Retz said, “A man who doesn’t trust himself can never really trust anyone else”.

Honouring self-commitments is fundamental to integrity. Only make promises to yourself and others that you are prepared to keep, no matter the cost.

ii) Intent

Intention has to do with motives, personal aims and agendas. Trust develops when motives are sincere and based on mutual interests. Hidden agendas show seeds of suspicion and distrust.

iii) Capabilities

These are the capacities that inspire confidence and generate respect. They are the means we use to develop and enhance gifts and talents. Capabilities are defined by the “TASK” acronym (talents, attitudes, skills, knowledge and style).

iv) Results

This refers to track record and the manner in which results are achieved. Being accountable for results necessitates persistence and a mindset to achieve outcomes in spite of setbacks and difficulties.

Relationship Trust

Rooted in the fundamentals of Relationship Trust are thirteen behaviours. They are:

i) Talk straight

To talk straight is to tell the truth – don’t cover up, lie or misrepresent situations to make you look better. On the other hand, straight talk is not about lacking human sensitivity, or lashing out using, blunt hurtful language. It means being sincere yet considerate, clear yet calm and truthful yet tactful.

ii) Demonstrate respect

To respect others is to honour them, whether or not we agree with their views, opinions and beliefs. Respect is embodied in the “Golden Rule”: i.e. treat others as you would like to be treated.

iii) Create transparency

Transparency is about truthfulness and honesty. It’s about revealing your intentions without any cover up or facade.

iv) Right wrongs

Righting wrongs is not about finding excuses or justification or even simply apologising. It’s also about taking corrective action and acting with humility. It’s about restitution, making whole and reparation. It’s also about taking corrective action and acting with humility.

i) Show loyalty

An important way of showing loyalty is to give credit to others, when credit is due. Giving credit builds trust, affirms the value of someone’s contribution and it encourages motivation and collaboration because people feel acknowledged.

ii) Deliver results

Delivering results in a consistent manner builds trust. When people can rely on you to do what you say you will do, to make things happen, they will support you and take you at your word.

iii) Get better

Commit yourself to continuous improvement. Increase your capacities. Improve your skills. Ask for feedback and perceive mistakes as opportunities to learn and grow. Accept criticism and if it’s valid bring about the necessary changes. If criticism is not valid, disregard it.

iv) Confront reality

Have the courage to look at the truth. Face facts. Don’t avoid issues. Be honest about tough matters and take the required action. Ignoring reality or shifting blame do not change anything; they only break confidence and destroy trust.

v) Clarify expectations

Vague or unclear expectations create confusion, anxiety and insecurity. To eliminate these undesirable effects, and build trust, specify and disclose precisely what is required. Discuss, get agreement and negotiate expectations.

vi) Practice accountability

To be accountable is to take responsibility for results. When things go wrong resist the temptation to blame others.

vii) Listen first

Most people engage in personal thoughts while others are talking to them. This is not listening. Listening means that you are hearing what someone else tells you: not just the words, but the feeling, intention and meaning of the speaker.

viii)Keep commitments

A sure way to be to be distrusted is to frequently make promises and seldom keep them. This will ensure that people fail to take seriously what they are being told. Whenever you make a commitment, or say that you will do something, keep your word and do it.

ix) Extend trust

Trust others and give them the benefit of any doubt. Where people are known to be trustworthy, make it clear that you trust them and provide opportunities for them to demonstrate trust. Where trust is broken, provide opportunities for reparation. It’s only when there is no credibility due to repeated infractions that prudent withdrawal of trust is appropriate.

Organisational Trust

In low trust organisations:

people are insecure. They manipulate and distort information
people cover up and refuse to take responsibility for mistakes
people are fearful. They engage in self protective behaviours
people do not share information
there is a great deal of internal competitiveness
new ideas are stifled
there are numerous “taboo” topics
people promise much and deliver little
people practise selective perception. They see what they want to see and distort the truth

By contrast, in high trust organisations:

people feel safe. They are secure in dealing with facts
people take responsibility
people share information openly
there is cooperation and collaboration between people and departments
new ideas are encouraged
no topic is off limits. Anything is open for discussion
people under promise and other deliver
there is a high degree of motivation and support

MARKET TRUST

Market trust is all about reputation and brand. It’s about the feeling that customers have that makes them want to buy particular products and services.

Until recently, Toyota was ranked number one in the motor industry as the “Most Admired Company”. People purchased Toyota cars because they came to trust the brand for quality vehicles. Then in 2008 a series of recalls were made in response to legal challenges arising from faulty mechanisms. Many millions of vehicles, across numerous types of cars were recalled. This devastated Toyota’s image world-wide, and it remains to be seen whether Toyota will ever regain its position as the most desirable brand in the motor industry.

Currently European brands are more highly trusted than US brands. Chinese brands are not highly rated because of inconsistent quality, even though the cost of goods is significantly lower than products from first world countries.

The key behaviours of “Market Trust” are transparency, honest and straight talk.

Societal Trust

In his book “The World is Flat”, Thomas Friedman says that trust is essential to a functioning society. The principle aim of terrorists is to destroy that trust, to create endemic fear so that people are anxious of taking everyday actions.

In societies characterised by high levels of trust, inhabitants naturally collaborate, co-operate and consequently exercise more economic choices. Contributing to the welfare of others is the sine qua how of societal trust.

Smart Trust

Life is risky. The purpose of life is not to avoid risk, it’s to manage risk wisely and extend trust to achieve the best possible results over time. Stephen M R Covey provides a “Smart Trust” matrix to establish criteria that may be used to determine how, and whom, to trust.