If you don’t trust your boss, you aren’t the only one. Only 40 percent of workers say that they have a high level of trust in their manager, according to a study from Interaction Associates, based on surveys of more than 500 employees at companies worldwide.
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The definition of trust for the study was, “the willingness to accept personal risk based on another person’s actions.” Research says trust in businesses is steadily declining. More than 25 percent of those surveyed trust their boss less this year than in 2013.
This trend doesn’t hold true for co-workers, however. Some 54 percent report feeling safe communicating their ideas and opinions to colleagues and peers. Interaction Associates’ CEO, Linda Stewart said in a statement, “The results are alarming, especially in light of the importance people place on trusting their leadership — some 82 percent of all respondents say that trusting their boss is essential for them to be effective in their job.”
Companies with a higher level of trust are 2.5 times more likely to be leaders in revenue growth and will also outperform in achieving key business goals, competitive market position, ethical behavior and actions, and financial results. Key business goals would include customer loyalty and retention, both important for company growth.
If you’re currently a manager concerned with trust issues in your own company, you could try better and more transparent communication, including asking for an employee’s input regarding decisions that affect them and giving your employees information about why you’re making a specific business decision. If you’ve made mistakes, admit it and don’t make an employee feel bad about raising concerns. Try spending time together outside of work and make it a goal to behave consistently going forward.
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