Posts Tagged ‘revenue’

Trust Matters

Thursday, February 9th, 2012

No doubt about it: trust matters! The most-trusted companies produce better results, including

  • lower employee turnover
  • higher revenue
  • profitability, and
  • shareholder returns

The Wall Street Journal reported these findings of recent research and, even more importantly, went on to explain the behavior that engenders a high level of trust. Essentially, managers whose employees and shareholders trust them  are skilled communicators. (No surprises there; many top management gurus agree that communication is the key skill required to be a great leadership.)

Specifically, here’s what high-trust managers communicate skillfully: 1) They make it clear that shareholders share the company’s interests, 2)  They show concerns for others, demonstrating that they will do what’s right despite the consequences, 3) They deliver on their promises, clearly exhibiting competence in doing so, 4) They “walk their talk,” demonstrating integrity and taking responsibility for any mistakes.

As The Journal’s article concludes, “The ability to align interests, show benevolence, accurately communicate one’s capabilities, and practice what one preaches all require strong communication skills.”