Some 20 years ago, business and leadership gurus said that “mistrust doubles the cost of doing business.” Considering the trust deficient nature of the world we live in now, we can comfortably say that “low trust most likely triples the cost of doing business.” Your success is culture bound. The foundation of your culture is “trust.”
Trust is so important to success today that your number one responsibility when you go to work is to build trust, regardless of one’s position.
Stephen Covey in his book “The Speed of Trust” (2008), said that “trust is the one thing that changes everything.” He nailed it, but I am not sure he understood at the time just how accurately he nailed it. Why?
Veterans (born 1928-1945) and Boomers (born 1946-1964) were loyal to organizations and blindly submissive to authority (organizational, government, or anything else). Blindly submissive meaning that they believed in following without question. These two senior groups were committed to and loyal to organizations; they trusted the organizational world. They generally did not question or expect to have a voice; they blindly followed.
Beginning with Gen Xers (born 1965-1980), trust began to erode. Gen Xers tend to lack trust in organized entities of any kind, and will question authority, to some extent. Trust nearly hit the floor with Gen Ys or Millennials (born 1965-1980), who lack trust in any organized entity or people unless relationships are developed, and trust is nurtured. Also Gen Ys want a voice and began questioning authority. They will not blindly follow; no more submissiveness.
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