• Tuesday, April 30, 2024
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BusinessDay

Trust in the market place

Trust in the market place

James Morrison was headhunted and when he resumed as the CEO of a global multinational firm, he asked a question, “why is trust not among the core values of the organization”? He quickly mandated the company’s head of corporate services and communication to quickly add it to the organization’s core values.

Management by objective deals with strategic management model that aims to improve the performance by clearly defining objectives that are agreed to by both management and staff. In the words of Peter Drucker, one of the custodians of management expertise, objectives of an organization should be seen in the culture, core values, mission statement and behaviour management and staff towards achieving the desired objectives.

Productive managers ensure that communication and trust is built into the structure, culture and daily routine system to achieve organizational effectiveness and a culture of innovation.

Let us take an extensive look at trust as an organizational engine room that can spearhead enormous potential growth, innovation and synergy for winning teams. Trust is divided into three main branches namely;

• Institutional or organizational trust

• Personal trust

• Leadership trust

Institutional Trust: organizational trust deals with the overall integrity structure on which the organisation stands. Organizational trust is not built in a day; it is a process and structure that needs to be strengthened to gain the loyalty of customer, employees and other critical stakeholders. Organizations build by aligning with best practices in line with effective product and service quality control and delivery, which is acceptable by the stakeholders.

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Essentially, customer insights, feedback and the organisation’s proactive response to customers’ needs is the starting point for building an enviable trust structure. Additionally, management and staff must be on the same page in terms of achieving the overall objectives. Care should be taken to ensure that the management upholds the principles of human relation, which are essential in building trust between management and staff.

Customer insights, feedback and organisation’s proactive response to customers’ needs is the starting point for building enviable trust structure

Personal Trust: personal trust deals with trust between two individuals, trust between professional colleagues, trust between team members and trust between management and staff. Productive managers encourage efficient personal and mutual trust among team members by encouraging good cordial relationship among team members through open and effective communication. The manager in building the team should learn to listen and treat team members with respect, trust and courtesy. This will go a long way to build a culture trust among the team members. Essentially, this will lead to cutting edge and efficient achievement of goals and objectives of the team in line with overall success of the organization.

Leadership Trust: Management team leading by example in terms of keeping to rules and regulations, time management and laid down procedures for relating with stakeholders will go a long way to attract trust and confidence from the staff. In building leadership trust, the productive manager should maintain consistency in leading by example, this will not only yield enormous and extraordinary performance and success, but team members will also look up to the manager as a role model at all times. In every on-going project that requires team participation, the trust bestowed on the manager goes a long way to bring outstanding performance and achievements for the team.

Vital to note, the manager needs to inculcate multifunctional models that will position the company’s brand in high esteem in the comity of competing brands and consequently attract consistent customer loyalty, patronage and referrals to prospective customers. This can be achieved when the manager positions the brand to give more than satisfaction to customers, but give happiness, excitement and friendly discount etc. Brand managers of HP, Toyota, Maltina, Samsung, Guinness, Heinz, Apple and Microsoft have succeeded in taking the brand from customer satisfaction to customer excitement by building durable and formidable leadership and brand trust.

Let us look at the elements that make –up trust;

• Commitment

• Communication

• Connection

• Capacity

Commitment: Organizational commitment refers to any action taken in the present and projects a future course of action. Managers who understand the nature and power of their commitment can wield them more effectively and move the organization forward in terms of policies, plans and programme. Managerial commitment takes different forms, from investment options to hiring decisions and to public relation statements, however, each commitment exerts both immediate and enduring influence on the company. Over time, a manager’s commitments shape the organization’s identity, define its strength and weaknesses, establish its opportunities, explore ways of resolving limitations/challenges and set visionary strategic direction.

How to improve organisational commitment

• Create a strong and durable teamwork culture: Managers that build strong teamwork culture facilitates a healthy work environment. No two employees in an organization can behave exactly the same way. When people come from different backgrounds, there will be difference in the way they see and perceive things and the same holds true when people work in groups or in a team. Basically, when managers through organizational policies create and promote a culture of effective team building, employees will be motivated to work together and achieve more. This will help boost their commitment levels and create a long-term work culture harmony.

• Maintain work ethics: The multiplier effects of the manager’s action on creation of team culture that translates to work culture harmony will lead to efficient work ethics, where employees will relentlessly carry out their task effortlessly. Having high standard of work ethics makes employees feel motivated and respectful towards the institution. When employees know that a management team is committed to high moral standards, they stay associated with the establishment.

• Emergence of a positive and creative work culture: The manager’s resolve to uphold enviable organizational culture will lead to positive work culture, where employees feel happy to be part of the process, where they feel motivated and encouraged to share new ideas and facilitate communication with the management without having the fear of being misunderstood. Managers should encourage employees to find a personal fit with the organization’s culture.

• Developing Trust: Excellent leadership trust has a way of influencing employees positively. When employees start developing trust among themselves as well as for the leadership, it is a positive sign of organizational development. Employees constantly watch the leadership for motivation and example of such is when employees learn decision-making skills and how it helps strategic changes within the organization and if management behaviour reflects what they say.

Excerpts from the book: The 15 Habits of Highly Productive Manager

Uhoegbu is an author, consultant and commercial strategist. Contact: [email protected] or +2348146338229.