Trust and the Pandemic

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For the first time ever, a business was seen as the most trusted institution among those four. A number like 61 per compared to 57 or 54 % in the other three institutions. And i would say that the extent of lay off the companies took as a result of covid actually were hugely damaging throughout the work force around world. Ninkyn: "You can't point to anyone ad say, whatwas your fault? You know that we have this pandemic"

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.