Friday, May 16, 2014

The demise of trust

Elections are in full swing from coast to coast in Canada: federal by-elections; provincial elections; and what promises to be an exciting municipal election for Toronto. So far the only candidate who has resonated with me is the leader of the Ontario Green Party, Mike Schreiner.

It comes therefore as no surprise that GfK Verein’s 2014 study, “Trust in Professions” uncovered that the least trusted profession is that of politician – in 23 out of 25 countries surveyed. (Insurance salesmen and traders scored lowest in the remaining two countries.)

If you work as a firefighter, you can pat yourself on your back, as this profession scored extremely highly in all 25 countries. And how did business people do? For Canada, the trust score for “businessmen, entrepreneurs” was 66 per cent; for “insurance agents”, 56 per cent, and for “advertising specialists”, 38 per cent.
CEOs who head corporations are tasked with engendering trust – for themselves, for their product, for their employees, for the shareholders. Trust in one’s top manager translates to success: sales are steady and/or increase; the employees are willing to stick around; the work environment is pleasant and innovation is encouraged. Best advice is freely given and received.

These CEOs know about, value, and practice the Craft of Management.
On the other hand, CEOs who are perceived to be untrustworthy face a Sisyphean battle.

Senior executives do have a choice. What is yours?