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 We're already halfway through the year! I'm not sure whether it's just me, but 2009 seems to be flying by.
Like many businesses, Allegra Consulting has been changing and adapting to meet the challenges of the current economic conditions. But it feels more positive out there... Whether it's been the government's economic policy and stimulus packages or whether we are just quicker to bounce back as an economy it's difficult to say.
In this month's newsletter we look at the importance of trust and the integral role it plays in supporting meaningful change outcomes. As we know, trust takes time to build and put to the test, yet when it's in place, it can have an extremely positive impact on delivering successful change.
We also provide our monthly update on change news and events - including the Ninth International Conference on Knowledge, Culture and Change in Organisation being held in Boston later this month. I'm proud to say that I've been involved in the development of two papers which will be presented at the conference. I look forward to providing a de-brief in next month's edition.
Finally, we spend Five Minutes with... Mark Schroffel a change management consultant and leadership development advisor.
We hope you enjoy this month's newsletter.
- Helen Haley and the team at Allegra Consulting
The importance of trust
According to leading speaker and author Stephen M R Covey, trust plays such a significant role in the success of businesses today that his research shows the total return to shareholders in high-trust organisations is almost three times higher than the return in low trust organisations.
As quoted in his book, The Speed of Trust, this is a significant difference (see our book review below). The importance of trust has always been recognised and emphasised in personal relationships. So how can organisations embrace, develop and foster trust as a skill or competency in business?
Canadian consultant and speaker Peter Jager recently reflected on the importance of trust and summarised its meaning as the following: Our willingness to accept a risk on someone else's assurance of safety. In other words, if we trust someone and they say it's ok to do or believe something, we will. And when trust exists, it is our most valuable relationship asset.
If we look at this in context of the workplace, and in particular organisational change, change practitioners will recognise that building trust is vital to gaining employee and stakeholder buy-in. But how do our colleagues and stakeholders know we are trustworthy?
Jager breaks it down in to three fundamental areas:
Benevolence - the type of trust that requires us to demonstrate that we can/will put another's interest before our own -without a hidden agenda. Like catching a small child when they jump into a pool.
Credibility - the easiest aspect of trust to avoid violating. This means keeping our word, doing what we say we will do and following through no matter what the consequences.
Competence - proving our competency is vital to our friends and colleagues being able to rely on us to deliver whatever it is that we have promised. Others need to understand our competencies and we need to ensure we commit to things that we are sure we can do.
Consistently delivering on these elements will help build trust. Knowing and understanding risks is also vital to our ability to be trustworthy. On the flipside, Academic Babara Braham believes we can deepen our own trust in others by making a conscious effort to do so.
What choices are you making daily to build the trust you have with your co-workers and managers?
If you would like to find out what level of trust you have inspired in your colleagues, you can access the survey built by Stephen Covey at this link: http://whotrustsyou.com/
The Speed of Trust - a book review
A successful author like his father, Stephen M R Covey has penned a fantastic read for anyone interested in mastering the art of successful leadership.
The Speed of Trust was recommended to me by an experienced and accomplished change manager who recognised the huge value in this book for anyone and everyone. As the title suggests, Covey is focused on the importance of trust as "the one thing that changes everything".
For organisational change practitioners the importance of building trusted relationships is a key requirement for achieving successful outcomes. The importance of acting honestly and with transparency is a core component for today’s authentic leader and a key element to building trust - this book provides a deep insight to how gaining trust quickly can help leaders to achieve results in the shortest time possible. A great read with practical advice and strategies for increasing organisational effectiveness as well as providing us as individuals with a chance to review how we build trust in each of our own relationships – personal and business.
- Helen Haley
Managing Director, Allegra Consulting
Change Management news and views
This section in our newsletter aggregates a variety of insights and commentary via links to readily available articles and videos on the web. Some may be in-depth, some short, some old, some new and some quirky! But we hope they are all useful. Note that we will indicate if the link goes to a video.
1. Restructuring and Redundancy: When is Downsizing not the right strategy?
According to Australian strategic change expert, Di Worrall, downsizing may not be the right strategy if, on balance, the negative consequences of employee redundancy outweigh the short term benefits.
Click here to read more in Di's blog
2. Survey shows business leaders more successful at major change during the recession
A new online survey, by leading change management firm Maurer & Associates Inc, of the challenge of change in organisations today found 33 percent of leaders were more successful at implementing major change during the last 12 months than in the last 5 years.
Click here to find out why
3. Ninth International Conference on Knowledge, Culture and Change in Organisation
The Ninth International Conference on Knowledge, Culture and Change in Organisations taking place in Boston from June 24-27 will offer a comprehensive overview of current thinking in the area broadly described as knowledge management. Its perspectives will range from big picture analyses in keynote addresses by internationally recognised experts in the field of management, to detailed case studies of management practice. It will traverse a broad terrain, from theory and analysis to practical strategies for action.
Click here to find out more
Five minutes with...
Every month, we publish a short Q & A with some of the world's most experienced change management practitioners. This month we spend five minutes with:
Mark Schroffel, Change Management Consultant and Leadership Development Advisor.
Read Mark's Q&A
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