I’m fascinated with discussions about what moves companies forward and what holds them back. What attributes describe well-run organizations? There are a lot of opinions and theories out there. But there are few that really hit the nail on the head. And even fewer that leverage good old metrics to guide strategic decision-making. The Speed of Trust approach introduced to me by Covey is one that does.
But for skeptics, a few road blocks pop up. Maybe this is just another “flavor of the month”. The name sounds too loosy-goosy. I disagree with both of these and we’ve rolled out programs to support this with the goal of making it part of the Sign Effectz, Inc. company culture.
Here’s why. I’m referencing Covey’s description because I think it best captures the essence of this: “Once we understand the hard, measurable economics of trust, it’s like putting on a new pair of glasses. Everywhere we look, we can see quantifiable impact. If we have a low-trust organization, we’re paying a tax. While these taxes may not conveniently show up on the income statement as “trust taxes,” they’re still there, disguised as other problems. Once we know where and what to look for, we see The 7 Low-Trust Organizational Taxes™ everywhere: Redundancy, Bureaucracy, Politics, Disengagement, Turnover, Churn, Fraud.
Our goal is to get rid of these “taxes” and Covey’s Speed of Trust helps!
Photo credit: Stuart Miles and freedigitalphotos.net.