View: Consumers, employees and society at large seek organisation leaders to cement the trust deficit
Relationships are weakening, while reducing the sense of safety and security, which, in turn, are causing fragmentation and spurring conflicts. This is becoming increasingly evident in both the geopolitical situation and the business world. And stakeholders, be it consumers, employees or the wider community, are looking at organisation leaders to cement the widening trust deficit.
The CXO community has become cognisant of this responsibility and appreciate that building and retaining trust is not merely an amorphous 'feel-good' goal, but a very tangible asset that, in today's world, comes at a premium.
From a stakeholder's perspective, trust enables transparent communication, creates a sense of security and cultivates confidence.
It forms the bedrock of any relationship. This reassures stakeholders — whether employees, customers or investors — that their interests are being valued and respected. Building these relationships grounded in trust fuels ideation and innovation, creates an open environment where honest feedback is encouraged and ultimately establishes reliability and integrity.
More importantly, trust empowers stakeholders to make informed decisions, backed by authentic information. Which makes this a critical priority for every organisation.
When we say that trust doesn't come cheap, there are two parts to the expense of it. One, the investment of time and effort in building and retaining trust.
