Income vs trust

We all know that trust is bread and butter in life, without it you can’t succeed much. There are different aspects of trust at work; for an organization building and maintaining trust both internally and externally is vital.

One of the most important relations that requires significant levels of trust is between employees/teams and company’s management, to an extend that it is more valuable than income, as it is shown in this paper by National Bureau of Economic Research in USA.

This piece from Kenan-Flagler Business School is trying to answer the ultimate question ‘How to Build Trust in an Organization?’ and offers a step by step approach. It is a well documented work with contemporary implementation examples from companies like Netflix, Continental Airlines and Whole Foods.

Since trust is a very important subject, it is easy to come across various articles from different mags like Forbes, Fast Company and Washington Post almost everyday. Also Psychology Today put together a long list of reading materials about trust in different contexts, regarding it as the ‘The New Workplace Currency’.

If you are up for an in-depth reading, we do recommend Amy Lyman’s book, The Trustworthy Leader.

You may want to check this video by Management Today that bridges the link between trust, transparency and communication by documenting comments from different business personas including C-Suite members.