From YEC
A culture of trust allows employees to take ownership of their roles.
A culture of trust within the organization is key. This not only strengthens team cohesion and strength, but also empowers employees to take ownership of their roles and ultimately build a stronger business. However, trust doesn't just happen. Fostering a culture of trust requires intentional action from company leaders.
Here, YEC members share their best strategies for building trust. Let's learn from their example.
What is one effective way for business leaders to make trust an important part of their company culture?
1. Be transparent
Be transparent. This means sharing the company's goals, challenges, and successes with employees and being honest about decision-making. To achieve this, leaders need to create regular opportunities for open dialogue, such as town hall meetings and feedback sessions, so that concerns and suggestions can be heard and addressed. This approach builds trust and promotes a culture of respect. —Kristin Kimberly Market, Market Media
2. Lead by example
In difficult times, true leaders must embody and convey the spirit of “We'll get through this together.” By demonstrating unwavering commitment, leading by example, and consistently following through on your promises, your resilience and determination will not only get you through the darkness, but will also build a culture of trust and collective perseverance, strengthening team cohesion and collective strength. To do. —James Boehmke, Boehmke Innovation Group
3. Promote workplace autonomy
We do several things that we believe will help solidify trust in our company culture. First, we give every employee a level of autonomy to take ownership of their role. Second, it gives employees the flexibility to make and learn from mistakes. And third, we operate as an ideas meritocracy, encouraging everyone to throw ideas at the wall, regardless of role or tenure. —Jeff Keiley, KETL Mountain Clothing
4. Ask employees for feedback
Building trust within a company is very difficult, especially in large companies. Employees are inclined to believe that the company will deceive them in some way, so they need to overcome that stereotype, which requires more than just one or two retreats. It takes time. The best way to start is to give them plenty of opportunities to provide feedback. This can be done through anonymous surveys, team discussions, or interviews. —Baruch Labunski, Rank Secure
5. Be transparent
Transparency and authenticity always bring trust to relationships. Building a culture of trust requires you, the business owner, to lead by example. As leaders, we must always act as a source of responsibility in this matter. If that happens, it's up to me. Model trust and watch it unfold through your communications and actions. —Aliyah Malek, Center for Educational Awakening
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6. Stop micromanaging
The best way for business leaders to foster trust and make it an important part of the company culture is to give teams end-to-end ownership of tasks. You need to encourage your team to take initiative and stop being micromanagers. Doing so sends a message that you trust your team's abilities and helps build a culture built on trust. —Stephanie Wells, Formidable Forms
7. Accountability sets the tone.
I learned that accountability sets the tone for trust within a team. It starts with holding ourselves to the highest standards, openly admitting our mistakes, and taking responsibility for both positive and negative outcomes. In my experience, this strengthens trust between teams and establishes the foundation for a culture of honesty and transparency that is essential for long-term success. —Thomas Smale, FE International
8. Promote from within
The best way to make trust part of your company's culture is to promote it from within. Too many business leaders look outside the company for leadership positions, which tends to foster distrust and even resentment among some employees. We recommend that you strive to promote from within by working with your employees to identify potential managers and team leaders. —John Turner, SeedProd
About the author
Young Entrepreneurs Council (YEC) is an invitation-only organization comprised of the world's most successful young entrepreneurs.
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