Trust Realities

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Selected notes from "An Evening with Stephen M.R. Covey" which was sponsored by Traverse Area Human Resource Association and Northwest Michigan Council of Governments.

• Trust is a hard-edged "economic driver."
• Nothing is as fast as the SPEED of Trust.
• Not trusting people is more risky.
• Trust can both be taught and learned.

-Stephen M.R. Covey on The Speed of Trust

"Trust is the currency of the global economy."

The ability to establish, grow, extend, and restore trust with all stakeholders -- customers, partners, investors, communities, and coworkers -- is the critical leadership competency of the new global economy.

-Stephen M.R. Covey

A Crisis of Trust
Societal Trust: low trust is everywhere

• Only 34% of American believe other people can be trusted (David Halpern, 2003)
• Trust in many institutions is at historic lows
• Only 49% of employees trust their senior leaders (Watson Wyatt, 2006-7 Study)
• Only 36% of employees believe top managers act with honesty and integrity (Harris Interactive Study, 2005)
• 76% of employees observed a high level of illegal or unethical conduct at work in the past 12 months (KPMG 2000 Organizational Survey)