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The Four Factors of Trust

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The Four Factors of Trust

How Organizations Can Earn Lifelong Loyalty

Wiley,

15 min read
6 take-aways
Audio & text

What's inside?

Without trust you have nothing – but you can build and maintain it.

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Editorial Rating

8

Qualities

  • Analytical
  • Applicable
  • Concrete Examples

Recommendation

Trust in people and institutions is at an all-time low. People don’t know who is telling the truth or which sources to believe. At the same time, individuals and organizations can’t perform at their best without being trusted. Deloitte’s Ashley Reichheld – writing with Amelia Dunlop – presents a detailed, easy-to-follow blueprint for establishing and maintaining trust. They explain how to create a productive workplace, encourage employee engagement, and satisfy your customers by addressing four trust factors: “transparency, humanity, capability and reliability.” Building trust is meaningful, and you can’t build anything meaningful without it. 

 

Summary

People and institutions must develop trust.

Trust is a foundational component of any relationship, including the relationships between organizations and their clients, employees and partners. Trust implies that a company will act with integrity and clarity while honorably pursuing its objectives. Trust means a customer can download an app without worrying about unleashing a virus. Trust assures employees they can count on their organization to keep its promises and to provide support and encouragement. In return, employees feel comfortable sharing their thoughts and feelings. Trust enables them to be vulnerable with one another.

Today, people have extremely low levels of faith in government, business and organizations due to political, social and economic volatility. But even as trust is threatened, research indicates that it heavily influences how people act and buy. Consumers are nearly 90% more likely to do business with brands they trust. Workers who trust their employers are shown to be more motivated and less likely to look for other jobs.

Trust consists of four pivotal factors:

  1. “Humanity...

About the Authors

Ashley Reichheld is a principal at Deloitte Digital, where Amelia Dunlop is Chief Experience Officer.

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