Building trust is essential in business, which is more true today than ever. Our research breaks the challenge down and shows how top performing companies are getting strong results in the core overlapping areas of trust, leadership, and collaboration
Cambridge, MA (PRWEB) September 16, 2009
New research points to how top performing companies achieve key business goals by building trust with customers and employees -- even in today's tough economy.
The research findings are contained in a new report & toolkit, Building Trust In Business, from Interaction Associates (IA) -- the 40-year innovator in leadership consulting and advanced collaboration methods to achieve strategic business results. IA commissioned the research firm, IDG Research Services, to conduct the Building Trust research as part of its 40th anniversary.
Building Trust polled leaders (ranging from CEO's to mid-level management) at 150 companies across a wide range of business, including companies in the fields of healthcare, biotech & pharma, energy & utilities, financial services, manufacturing, and technology/software, among others. Survey respondents were from companies averaging 11,000 employees and an average revenue of $14 billion.
The Building Trust research focuses on the characteristics common to top performing companies that excel at building trust, developing strong leaders, and collaborating successfully. The research also looks at how top performing companies achieve important results in three key areas of business: productivity and innovation; customer and employee retention; and operational efficiency.
"Building trust is essential in business, which is more true today than ever. Our research breaks the challenge down and shows how top performing companies are getting strong results in the core overlapping areas of trust, leadership, and collaboration," according to Linda Dunkel, President and CEO of Interaction Associates.
Building Trust identified the important behaviors and characteristics common to top performing companies and seen as vital to their success at achieving important business goals. "We focused on what leads people to trust the institutions they're part of and to trust their relationships - with colleagues and with management," added Dunkel.
A snapshot of behaviors linked to success in each of the three business goal areas clustered in Building Trust in Business:
Productivity & Innovation
People are encouraged to take risks; leaders make sound decisions; and meetings are time-efficient and achieve desired outcomes.
Management is consistent, predictable and transparent; leaders enlist many points of view in decisions; and collaborative skills are widespread.
People feel safe in their communications; leaders provide clear direction & context, and share responsibility/accountability.
"Top performing companies typically are not top-down organizations; and they have a strong sense of shared purpose," according to Linda Dunkel. "They have other important characteristics in common: Employees work together to support the shared purpose; tolerance and cooperation are valued highly. And decisions at high performers frequently involve input from many people," added Dunkel. "And this is critical: Leaders at top performing companies often coach their team members vs. just managing them," she added.
Building Trust in Business also includes a powerful toolkit developed by Interaction Associates to enable leaders to achieve fast results in the areas of trust, leadership, and collaboration.
Get the full report - Building Trust in Business -- featuring detailed analysis of the research findings and the complete toolkit - download here: Building Trust in Business Full Report
Download an Executive Summary at: Building Trust Executive Summary
Hear a podcast summarizing the research results:
Building Trust Podcast w/Andy Atkins
About Interaction Associates
Interaction Associates (IA) is a 40-year innovator in strategic leadership consulting and in helping companies find breakthrough solutions to business challenges. IA's integrated management consulting and learning and development services have been used globally by Fortune 500 companies, government agencies and nonprofit organizations. IA helps those enterprises set strategic direction, inspire commitment, and build leadership capabilities, leveraging the power of collaborative action for long-term, sustainable results. Learn more at Interaction Associates