We Need to Look at Ourselves First Trust in business is often viewed as a precious commodity, slowly accumulated through years of reliable actions and transparent dealings. But what if this conventional wisdom is holding us back? Recent research and forward-thinking organisations are challenging this notion, suggesting that adopting a trusting mindset from the outset might be the key to unlocking unprecedented levels of innovation, collaboration, and success in the modern business landscape. The Traditional View vs The New Paradigm Traditionally, we've been taught that trust must be earned. This perspective puts the onus on others to prove their trustworthiness. While there's value in this approach, it can create an environment of suspicion and caution, potentially hindering collaboration and innovation. A growing body of evidence suggests that approaching business relationships with a predisposition to trust can yield significant benefits. This paradigm shift focuses on cultivating a trusting environment rather than simply earning trust. The Benefits of a Trusting Mindset 1. Enhanced Collaboration, Innovation and Engagement Research shows that employees in high-trust organisations are more productive, have more energy at work, are more engaged and collaborate better with their colleagues (Zak, 2017). A trusting mindset encourages open communication, idea-sharing, and risk-taking, leading to enhanced creativity and problem-solving capabilities. All in all, a better place to work! 2. Increased Cooperation and Productivity A 2018 study published in the Journal of Personality and Social Psychology found that individuals who exhibited high trust were more likely to cooperate with others, even in one-time interactions (Yamagishi et al., 2018). The better we cooperate, the better our individual and collective productivity. 3. Improved Negotiation Outcomes A study in the Journal of Conflict Resolution demonstrated that negotiators who approached talks with a trusting attitude achieved better outcomes than those who were more guarded (Kong et al., 2014). And this not only applies when negotiating big deals with parties outside your organisation - it’s also critical when discussing the ‘small stuff’ with your own colleagues. 4. Psychological Safety Google's Project Aristotle, which analysed team dynamics, found that psychological safety—rooted in trust—was the most significant factor in team effectiveness. Teams that felt safe to take risks and be vulnerable in front of each other were more successful. If you really want to innovate or push the boundaries of current possibilities, a culture of trust is essential. The Cost of Distrust Conversely, the absence of trust can lead to a toxic work environment, high employee turnover, and diminished productivity. A study by the Edelman Trust Barometer found that companies with low trust levels experience greater employee disengagement and higher turnover rates. Distrust breeds micromanagement, excessive oversight, and fear—elements that stifle innovation and hinder growth. Moreover, when distrust seeps into an organisation, it can affect relationships with clients and stakeholders. A lack of trust can lead to poor communication, misaligned goals, and ultimately, failed partnerships. Companies like Enron serve as stark reminders of how distrust can lead to catastrophic failures—not only internally but also externally, damaging reputations and client relationships. Implementing a Trusting Mindset in Business So how can we cultivate this trusting mindset in our professional lives? Lead by Example : Leadership plays a crucial role in establishing a culture of trust. Leaders should model vulnerability and transparency, demonstrating that trust is reciprocal. When leaders share their challenges and successes openly, they encourage a culture where employees feel safe to do the same. Start with Trust : Instead of making others earn your trust, start from a position of trust. This doesn't mean being naive, but rather giving people the benefit of the doubt. Empower Employees : Empowerment goes hand-in-hand with trust. When employees are given autonomy to make decisions, it shows that the organisation believes in their capabilities. This empowerment not only builds trust but also fosters accountability and engagement. Encourage Open Communication : Create channels for open dialogue. Regular feedback sessions, town hall meetings, and anonymous surveys can help employees voice their thoughts without fear of retribution. This openness not only strengthens trust but also drives improvement. Embrace Vulnerability : Research by Brené Brown shows that vulnerability is a key component of trust. Be willing to admit mistakes and ask for help when needed. Focus on Shared Goals : Emphasise common objectives to foster a sense of unity and shared purpose. If you have a strategy (ahem!!), share it, and live it. Focus every day on achieving it! Celebrate Collaboration : Recognise and reward collaborative efforts within the organisation. Celebrating teamwork fosters a sense of community and reinforces the idea that trust is a collective effort. The Bottom Line Trust in business is not merely about earning it; it's about adopting a trusting mindset that permeates the entire organisation. By fostering an environment where trust thrives, businesses can unlock the potential of their teams, enhance collaboration, and build resilient relationships with clients and partners. As Stephen M.R. Covey, author of "The Speed of Trust," aptly puts it: "Trust is the one thing that changes everything." By shifting our focus from earning trust to cultivating a trusting environment, we can create more collaborative, innovative, and successful business relationships. In a world where trust is increasingly scarce, the organisations that prioritise a trusting mindset will not only survive but thrive. Let's shift our perspective—trust isn't just a goal; it's a fundamental way of working that can transform our businesses for the better. References: 1. Yamagishi, T., et al. (2018). Cortical thickness of the dorsolateral prefrontal cortex predicts strategic choices in economic games. Proceedings of the National Academy of Sciences, 115(20), E5582-E5591. 2. Zak, P. J. (2017). The neuroscience of trust. Harvard Business Review, 95(1), 84-90. 3. Kong, D. T., Dirks, K. T., & Ferrin, D. L. (2014). Interpersonal trust within negotiations: Meta-analytic evidence, critical contingencies, and directions for future research. Academy of Management Journal, 57(5), 1235-1255. 4. Brown, B. (2018). Dare to Lead: Brave Work. Tough Conversations. Whole Hearts. Random House. 5. Covey, S. M. R. (2006). The Speed of Trust: The One Thing that Changes Everything. Free Press. 6. Edelman Trust Barometer. (2021). Annual Global Study. Edelman. 7. Google re:Work. (2015). Guide: Understand team effectiveness.