The Speed Trust:Why trust is important and

how it helps create effective & efficient teams

Julie Wood

Education Program Manager &

Youth Entrepreneur Camp Director

UW-Madison Small Business Development Center

Why Trust

• Only 51% of employees have trust & confidence in senior management

• Only 36% of employees believe their leaders work with honesty and integrity

• 76% of employees have observed illegal or unethical behavior

The Speed of Trust, Stephen M. R. Covey

Who Do We Trust?

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High-Trust Dividends:-Increased value

-Accelerated growth-Innovation

-Collaboration-Results-Loyalty

Low-Trust Taxes:-Redundancy-Bureaucracy

-Disengagement-Turnover

-Fraud-Lower profits

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•What are the 4 elements necessary for trust?

•Why is it important to trust ourselves?

•Why are both character and competence important?

INTENT

•What happens when we are unclear about or don’t declare our intent?

•When is the best time to declare your intent?

See Speak Behave – Organizational Trust

SEE

SPEAKBEHAVE

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Competence:-Capabilities

of theorganization?

-Does the organizationget results?

Character:-Does the

organization have integrity?

-Does the organization have good

intent?

The 4 Cores of Credibility

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1.Be specific about the outcome2. Where are you starting from – what is the current situation3. What key activities are needed to achieve the desired outcome4. Who is responsible for what 5. Does the person responsible have what they need to achieve the desired outcome

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5 Steps to Building Organizational Trust

-What is the end goal (start with the end in mind)?

-What key data is needed for the hand-off?

-What can be done to make this an easier transition?

-What processes and procedures would help?

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Customer/Work Hand-offs

Which Processes could you start

with?

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“Kindergarten Principle”

List the Steps

Test and Revise

Review

•What needs to be in place to build trust

•Benefits of High Trust

•Declare your Intent

•5 Steps to Build Trust

•Which process could you start with?

Action Steps

Jot down the 2 or 3 things you are going to start with and share with

your tablemate (ask them to be your accountability partner ).

Thank you!

Julie Wood

Julie.wood@wisc.edu

263-9675

sbdc.wisc.edu