One of the major problems today’s businesses face is the lack of trust. According to the Elderman 2016 Trust barometer, 35% of people don’t trust the company they work for. The results the Global generations study by EY shows are even more worrisome. They found that only 46% of employees have a great deal of trust in their employers.
The factors that led to this are multiple, from unfair employee compensation and unequal opportunity for promotion to poor collaboration.
The lack of trust in your organization may trigger numerous additional problems, such as creating gaps among your employees, the creation of a toxic workplace atmosphere, and the inability to retain talent. Given all these factors, it’s obvious that your company’s bottom line will suffer, too.
This is why you need to work on building trust among your employees on time.
Here is how.
1. Make your Actions Transparent
Over the past few years, transparency has become quite a big deal. And, by setting clear goals and communicating them to your employees, you will not only build trust among them but also boost their productivity. By knowing where they stand compared to what you expect of them, they will know what to do to improve their performance.
Aside from your monthly, quarterly or yearly performance reports, you should consider providing them with reviews on a weekly basis. Statistics show that these employees are happier and more engaged. They are able to keep track of their progress and take immediate action to improve their performance.
You should also integrate transparency into your hiring, compensation, and rewards processes. This is something many reputable organizations have already done. For example, Buffer shared a spreadsheet that shows the salaries of each of their employees by name. This is a great idea, as your employees want to know what their responsibilities are and what they need to do to earn a promotion or a bonus.
2. Incentivize your Employees Regularly
Obsessed with keeping their cash flow positive, many businesses decide not to incentivize their employees. And, this is definitely not a good idea. Your employees expect you to recognize their efforts and reward them. Namely, when asked what employers could do to boost their engagement, more than a half of employees answered with “give recognition”.
Still, these rewards don’t have to be monetary. There are a plethora of amazing ideas you could explore.
- Buy gift cards at the coffee shops, bookstores, or online retailers your employees love. Prepaid gift cards, such as MasterCard, Eftpos or prepaid Visa gift cards have also become popular in the corporate world, as they don’t limit your employees to one brand or store. They can spend the money wherever and however they want.
- Offer flexible working arrangements. This could be anything they choose- a day off, a chance to telecommute one day a week, casual Fridays, etc.
- Praise them both publicly and in person.
- Throw a party and let them bring their friends or families.
- Take your team out to lunch to celebrate major professional milestones.
3. Give Career Advancement Opportunities
When hiring ambitious employees, you need to motivate them to constantly learn and improve their skills. Otherwise, they will leave you. According to the recent studies, career training and development is what inspires your employees to stay. Namely, 86% of Millennials claim that proper career training and development opportunities would keep them from leaving their current position.
For starters, make sure you create a detailed employee training plan. Make sure you ask your employees what kind of courses they would like to take and tailor them to their expectations. With the help of employee training software, you can create engaging online courses for both your in-house and remote workers, as well as track their progress in real time.
Second, you should give your employees enough spare time to work on their personal enrichment and provide them with all the resources they need. As your employees keep perfecting their knowledge, they will be able to complete their tasks faster and more efficiently. And, in return, they will be rewarded adequately. Such initiatives are a clear indicator that you appreciate their effort and that you have big plans for them.
4. Show that You Really Care
To assess their employees, managers take numerous metrics and statistics into consideration. And, sometimes, they get lost in them. But, this is something that should never happen. You don’t have to be BFF with your employees, but you shouldn’t treat them like numbers, either.
Get to know the people you’re working with. You need to be familiar with their worries, problems, hobbies, preferences, and expectations. Only this way will you be able to tailor the workplace atmosphere to their need and help them when the need arises.
For example, if you notice that one’s performance drops, arrange an in-person meeting and see if you can help them.
Apart from praising them for their exceptional work, help them celebrate their personal milestones. If it’s someone’s birthday, buy a cake and throw an office party. This won’t cost you a lot and yet, it will mean so much to them.
5. Admit Mistakes and Ask for Help
A good manager constantly goes the extra mile in overcoming a gap between them and their employees. They encourage honesty, collaboration, and transparency by leading by example.
For starters, admit your mistakes and take responsibility for your actions. Your honesty will inspire your employees to be more open with you and their co-workers.
You should also ask your employees for help when the need arises. Encourage them to feel free to express their complaints and let them know that their opinions are valued. Most importantly, be open to criticism and handle it professionally. Remember, you can always turn your employees’ negative feedback to your advantage to tailor your business to their needs.
Over to You
Building the pillars of trust among your employees has never been simple, but it definitely pays off. It will help you boost their morale, establish a positive corporate culture, and ensure that all your teams are directed towards setting the goals you’ve set.
How do you build trust among your employees?