CAN YOU IDENTIFY THE “ONE” THING? - It is common to every individual, relationship, team, family, organisation, nation throughout the world It affects the quality of every relationship, every work, every communication, every effort in which we are engaged. Least understood, most neglected and most underestimated possibility of our time If removed, will destroy the most powerful government, most successful business, the most thriving economy, the most greatest friendship, the deepest love, the strongest character. On the other hand, if developed and leveraged, it has the potential to create UNPARALLELED SUCCESS AND PROSPERITY IN EVERY DIMENSION OF LIFE

THE ONE THING THAT CHANGES EVERY THING GUESS WHAT?

IT IS TRUST

WHAT DO YOU MEAN BY TRUST?

TRUST MEANS “CONFIDENCE” WHEN WE TRUST OTHERS, THAT MEANS WE HAVE CONFIDENCE IN THEM – IN THEIR INTEGRITY AND IN THEIR ABILITIES

The opposite of trust is “DISTRUST” i.e. SUSPICION When we distrust some one means we are suspicious of them – of their integrity, their capabilities, their track record.

Now, think of a person with whom you have a low-trust relationship. How does it feel? How is the communication between you and that person? Does it flow quickly and freely? Do you work together to get things done quickly? Does it take a disproportionate amount of time & energy to finally reach agreement & execution?

Now, think of a person with whom you have a high-trust relationship. How does it feel? How well do you communicate? How quickly can you get things done? How much do you enjoy this relationship?

DIFFERENCE BETWEEN HIGH TRUST AND LOW TRUST In a High trust relationship, You can say the wrong thing and people will still get your meaning. In a low-trust relationship, you can be very measured, even precise, and they still misinterpret you

GOLDEN WORDS REGARDING TRUST: The moment there is suspicion about a person’s motives, every thing he does becomes tainted - Mahatma Gandhi Whether you are on a sports team, in an office or member of a family, if you can not trust one another there is going to be trouble - Joe Paterno, Head Football Coach, Penn State University.

THE ECONOMICS OF TRUST Trust always affects two outcomes SPEED and COST. How? Can you explain?

THE ECONOMICS OF TRUST WHEN TRUST GOES DOWN, SPEED WILL ALSO GO DOWN AND COSTS WILL GO UP WHEN TRUST GOES UP, SPEED WILL ALSO GO UP AND COSTS WILL GO DOWN

THE ECONOMICS OF TRUST Best example is, the air travel to US before and after 09/11 attack: Immediately following the 09/11 terrorist attacks, trust in flying in the US went down drastically. Prior to 09/11, Passengers used to arrive at the airport before half an hour only to go through security check up. But after 09/11, to ensure sufficient time to clear security, passengers have to arrive at the airport atleast 2 1/2 hours earlier. Also, they have to pay security tax . Thus, trust went down, speed also went down and cost went up.

IN PERSONAL RELATIONSHIPS THE effect of TRUST THE EFFECT OF NON EXISTENT TRUST: IN THE ORGANISATION IN PERSONAL RELATIONSHIPS Dysfunctional environment and toxic culture Redundant hierarchy Punishing systems and structures Dysfunctional relationships Hot, angry confrontations or cold, bitter withdrawal Verbal, emotional and /or physical abuse Labeling of others as enemies or allies

IN PERSONAL RELATIONSHIPS THE effect of TRUST THE EFFECT OF LOW TRUST: IN THE ORGANISATION IN PERSONAL RELATIONSHIPS Hidden agendas Many dissatisfied employees Bureaucracy and redundancy in systems and structures Energy draining and joyless interactions Evidence gathering of other party’s weaknesses and mistakes Doubt about other’s reliability or commitment Guarded (often grudging) dispersing of information

IN PERSONAL RELATIONSHIPS THE effect of TRUST THE EFFECT OF MODERATE TRUST: IN THE ORGANISATION IN PERSONAL RELATIONSHIPS The focus is on work Effective collaboration and execution Strong creativity and innovation Co-operative, close, vibrant relationships A focus on looking for and leveraging one another’s strengths Uplifting and positive communication Mistakes seen as learning opportunities and quickly forgiven Positive energy and positive people.

IN PERSONAL RELATIONSHIPS THE effect of TRUST THE EFFECT OF VERY HIGH TRUST: IN THE ORGANISATION IN PERSONAL RELATIONSHIPS High collaboration and partnering Effortless communication Positive, transparent relationships between administration and employees Strong innovation, engagement, confidence, and loyalty. True joy in family and friendships characterized by caring and love Free effortless communication Amazing energy created by relationships Inspiring work done together and characterised by purpose, creativity and excitement.

THE effect of TRUST Now think over the above tables. In which environment would you like to be? Environment having no trust or environment full of trust? Which environment you want to create to others viz. customers both internal and external.

No, nothing is as fast as speed of trust. Myth busters What do you think about the following? Are they correct? TRUST IS SLOW. No, nothing is as fast as speed of trust.

Myth busters What do you think about the following? Are they correct? TRUST IS BUILT SOLELY ON INTEGRITY No, trust is a function of both character (which includes integrity) and competence.

Though difficult, in most cases, lost trust can be restored. Myth busters What do you think about the following? Are they correct? ONCE LOST, TRUST CAN NOT BE RESTORED Though difficult, in most cases, lost trust can be restored.

NOT TRUSTING PEOPLE IS A GREATER RISK. Myth busters What do you think about the following? Are they correct? TRUSTING PEOPLE IS TOO RISKY NOT TRUSTING PEOPLE IS A GREATER RISK.

HOW TRUST WORKS? CHARACTER COMPETENCE Trust is a function of two things CHARACTER COMPETENCE

HOW TRUST WORKS? Character includes integrity, motive and intent with people. Competence includes capabilities, skills, results, track record. BOTH ARE VITAL FOR TRUST. HOW?

HOW TRUST WORKS? Whether you trust the following persons: A sincere even honest person but he does not get results. A person having great skills and talents with good track record but he/she is not honest WE WILL NOT TRUST BOTH OF THEM, ISN’T IT?

HOW TO ESTABLISH TRUST? There is a model called “5 WAVES OF TRUST”. It defines five levels in which we establish trust.

5 WAVES OF TRUST SELF TRUST RELATIONSHIP TRUST ORGANISATIONAL TRUST MARKET TRUST SOCIETAL TRUST

FIRST WAVE – SELF TRUST Self Trust deals with Self confidence we are having Our ability to set and achieve goals Our ability to keep commitments Our ability to inspire trust in others. In a nutshell, it is our ability to become WORTHY OF TRUST.

SECOND WAVE – RELATIONSHIP TRUST It is about how we establish and increase the “trust accounts” we have with others. The key principle underlying this wave is CONSISTENT BEHAVIOUR.

THIRD WAVE – ORGANISATIONAL TRUST It deals with how leaders can generate trust in all kinds of organisations. The key principle underlying this wave is ALIGNMENT.

FOURTH WAVE – MARKET TRUST It is the level at which almost everyone clearly understands the impact of trust. The underlying principle behind this wave is REPUTATION. It is about our organisation’s brand which reflects the trust the customers and others in the market place have in us. When there is a high trust brand, Customers buy more, refer more, give the benefit of doubt and stay with us longer.

FIFTH WAVE – SOCIETAL TRUST It is about creating value for others and for society at large. The principle underlying this wave is CONTRIBUTION. By contributing or “giving back” , we counteract the suspicion within our society. Also, we inspire others to create value and contribute, as well.

ESTABLISHING TRUST So, we should be able to SEE SPEAK and BEHAVE in ways that ESTABLISH TRUST Since, TRUST IS ABSOLUTELY KEY TO LONG TERM SUCCESS. - Jim Burke, Former Chairman & CEO, JOHNSON & JOHNSON.

“The ability to establish, grow, extend, and restore trust is the key leadership competency of the new economy” Stephen M. R. Covey

THANK YOU