Stephen M. R. Covey says, “While high trust cannot necessarily save a bad strategy, low trust will almost always derail an otherwise good strategy.” Voted the # 1 enduring idea by Strategy + Business Magazine readers, execution is appropriately a huge focus in organizations today. Execution is significantly enhanced by trust. FranklinCovey’s Execution Quotient Tool™ (xQ) has consistently shown a strong correlation between higher levels of organizational execution and higher levels of trust.
Improve the Effectiveness of Your Strategic Initiatives
High trust companies are better able than low trust companies to execute their organization’s strategy. Trust is the “hidden variable” in the formula for execution success. The traditional business formula says that strategy times execution equals results: S x E = R. However, there is a hidden variable in this formula – TRUST! Low trust discounts performance and high trust multiplies it: (S x E) T = R. A company can have an excellent strategy and a strong ability to execute, but the net result can be either torpedoed by a low-trust tax or multiplied by a high-trust dividend. High trust serves as a performance multiplier, creating synergy where the whole is more than the sum of its parts.
“Above all, success in business requires two things: a winning
competitive strategy and superb organizational execution. Distrust is
the enemy to both.” –Robert Shaw
The impact of this hidden variable makes a powerful business case for trust. High trust teams outperform low trust teams by as much as four times. How? They execute at The Speed of Trust™.
Doug Conant, CEO of Campbell Soup Company, described the connection of trust to execution with these words:
Once you earn people's trust, you have permission to do some amazing things. Trust gives you the permission to give people direction, get everyone aligned, and give them the energy to go get the job done. Trust enables you to execute with excellence and produce extraordinary results. As you execute with excellence and deliver on your commitments, trust becomes easier to inspire, creating a flywheel of performance.
If your organization enjoys a trust dividend, then trust becomes the great ‘performance multiplier’ and the execution silver bullet! If, on the other hand, your organization is paying a trust tax, then everything you do takes more time and costs more money. Trust always impacts two measurable variables: SPEED and COST. Because trust is the one thing that changes everything, it is one of the most critical strategic levers you can focus on. And our experience tells us that you can impact it faster than you think!
How Does The Speed of Trust™ Work?
Let's get real. Training alone doesn’t work. Rather than just teaching principles in a course, The Speed of Trust Transformation Process™ institutionalizes new language and new behavior in the context of real work. Learn More
The Economic Business Case for Trust
Trust always affects two measurable outcomes – speed and cost. When
trust goes down, speed goes down and cost goes up. This creates a
Trust Tax™. When trust goes up, speed goes up and cost goes down. This
creates a Trust Dividend™. It’s that simple, that predictable. Learn More