The Power of Trust

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Sandra sutcher is a professor of management practice at harvard business school and an internationally recognized researcher on trust. She studies how organizations become trusted and the vital role leaders play in that process. Her articles on trust have been featured as a big idea in h b r dot org and as a must read by harvard business review. The book is particularly applicable for business leaders as we continue to muddle through our way through the great resignation.

In 2021, people started to trust business organizations more than governments, NGOs or the media, according to global research by the Edelman Trust Baraometer. The Covid pandemic has seen people around the globe question their trust in all forms of leadership. What impact does this have on business leaders? Can organizations rebuild trust? What are the building blocks of trust?

Sandra Sucher, co-author of “The Power of Trust: How Companies Build It, Lose It, Regain It” (https://amzn.to/3pny7Uu) draws back the layers of what trust actually is, how to build it, how to maintain it through adversity, and most importantly, how to rebuild it when it’s been shattered.

Along with her co-author, Shalene Gupta, Sandra has devised the four key foundations of trust; competence, motives, means and impact. We ask Sandra about the significance of these steps, how they can be harnessed, as well as the impact on trust that Covid has had, specifically how vaccine mandates have affected it. Throughout our conversation and her book, Sandra illustrates her insights with a plethora of rich business examples.

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Topics

(3:03) Welcome and speed round question.

(5:00) Trust is limited.

(7:38) The 4 key elements of trust.

(13:09) Does forgiveness play a part in regaining trust?

(14:54) How trust can be preserved by an organization, even while laying people off - the Nokia example.

(25:30) How has the landscape of trust changed and what effect has the pandemic had on trust?

(30:27) The link between lack of trust in government and vaccine hesitancy.

(33:49) The trust implications of asking employees to get vaccinated.

(36:26) People actually trust a negative outcome, if they feel the process was fair.

(39:37) What makes a business a good place to be from?

(45:39) Grooving Session discussing what we’ve learnt from Sandra.