In this book, the author :
o defines trust and related concepts, and shows how these impact on business performance
o provides valuable case material of companies with both high and low trust
o forges the link of trust to strategy rather than to HR

The new economy has changed the rules of the game in business, and the speed at which businesses operate and interact. Corporate success has therefore never been more dependent on the contribution of first-rate people, who give more than merely adequate performance at work and in turn, trust has become a topic of considerable importance within organization, as people need to be engaged and motivated by their role in order to go the "extra mile". Low trust is characterised by defensive, protective and legalistic behaviour (with the potential to financially damage a company), whereas high trust can help create real competitive advantage in the marketplace through promoting effective collaboration, involvement and loyalty which in turn generate energy and innovation among employees. The organisations with a high level of trust have teams of people that are highly motivated and co-operative and command respect and loyalty from their customers. This can lead to the fulfilment of a company’s mission and goals, and eventually, financial success. Yet trust is not an easy commodity to achieve and maintain, with employees increasingly demand more, and less obvious, compensations than financial benefits alone, such as job autonomy and ownership, and the market value of their role. Fulfilment of these ’hidden’ rewards can lead to employee commitment and passion based on trust, which are valuable assets when employee retention is at a premium -many people are choosing to opt out of the corporate economy to work freelance, or for the new, small and entrepreneurial e-businesses start-ups. This book shows, through practical guidance and examples, how trust can be harnessed to create real competitive advantage within an organisation’s strategic aims.


TABLE OF CONTENTS

Preface
Introduction: The Value of Trust

PART I
1 Trust at Work and the Cost of Low Trust
Engaging people
What is trust?
The dynamism of trust
The cost of low trust
The durability of trust: some finding
Competitrion demands it
Bringing trust in from the cold

2 Trust as an Equity
Trust is a competitive assest
Why loyalty is not enough
Forms of collaboration
Mutual and discretionary trust
Developing trust
Employee voice
Trust and reputation
The expansion and contraction of trust

3 Releasing Energy: An Investment in Social Capital
Relationships
Radical changes at work
Managing change while neglecting trust social capital
Creating social capital: involving people in performance improvement
Building awareness -- neglecting trust
Trust -- the missing factor
Management support
Job involvement, team involvement
Organization and team commitment
Employee perception and effort

4 Releasing Value: An Investment in Learning and Alignment
The relevance of organizational learning
Tacit knowledge and organizational learning
ICL manufacturing/design to distribution -- successful learning
The service company -- mix drives and targets
Aero PLC -- poor learning opportunity
The importance of tacit knowledge
Employee tacit knowledge
Tacit knowledge: an overview
From programmatic intervention to embedding performance improvement
Trust and alignment

PART II
5 Enlarging the Scope for Change: ICL/D2D - Creating a High trust Firm
Restructuring to be more responsive
Introducing effective quality management
Changing course in manufacturing
Overcoming the barriers in the front line
Leadership: integrity and consistency
Investing in people
Investing in skills and qualifications
Recognizing performance on the front line
Employee suggestions
Communication
Motivating the team
Transforming a working team
Making people responsible

6 Sacrificing Trust: Too Much Change Too Fast at The Service Company
Resisting change
The quality improvement
Pushing targets or involving people: a dilemma
Problems of motivation and morale
Intervention not supported through the line
The alignment of management thinking

7 Poor Communication and Uncertain Boundaries Impact on Trust at Autopart
Management uncertainty and competitive demand
New initiatives but lack of clarity
A workforce unprepared for change
Anti-rollbar cell - a failed initiative
Metal prep team - a partial success story

8 Poor Communication and Low Trust at The Engineering Company
Building from a low trust base
Perceived problems
Quality awareaness training
Management enthusiasms
Quality implementation
Teamwork assessment of production teams
Poor communication affects commitment
Compromising change

9 A Culture That Would Not Change at Aerco
A call for change
A new strategy for change
Organizational change: the design process
Promise and disappointment
Problems of ownership

10 The Defence Company: Structured Change in Production but Less Commitment
Initiating organizational change
Employee involvement and accountability
Problems of management attitude
A question of poor morale?

PART III
11 Collaborative Capital and Client Loyalty in Investment Banks
Beyond capital ratings
Risk and trust
From doing deals to client focus
Collaborative capital -- a new asset

12 The Trusted Leader and Releasing the Energy to Succeed
The trusted leader
Trust: releasing energy
The trust tree
Trust: releasing value

Index