27 Jun Trust in your employees – the key to your company’s successReading Time: 3 minutes
According to the experts, trust in your employees is a key concept in professional success, both from a personal and business perspective. On this matter Luis Llorente, a collaborator from the Centre for Coaching Studies (Centro de Estudios del Coaching), believes that “when there is trust in yourself, in your colleagues and in your work environment, this helps to face situations with greater energy and dedication and better results are achieved. On the contrary, when there is a lack of trust, fear can arise and the whole project can suffer as a consequence“.
The challenge of building trust inside the company
Trust is considered to be an abstract, intangible value. However, when the results of teams with high and low levels of trust are compared, it can be clearly seen that trust is the key to success and can be measured.
According to Gallup, companies with a high level of employee commitment were 22% more profitable and achieved 37% less absenteeism. In the long term, the retention of committed employees will reduce recruitment and training costs of new employees, productivity will be maintained and doors will be opened to the development of inspiring new leaders. The conclusion is that trusting your employees gives rise to a greater commitment from their side, leading to greater profitability and business success.
In order to build trust within a company, it is essential to be aware of the importance of placing trust in teams and to understand the type of behaviour that earns this trust and how it affects the team members and their relationships with others.
How to foster trust
To build trust, here are some measures to take:
- Strengthen leadership
- Promote positive management of failure and self-acceptance
- Work on team motivation
- Foster collaboration between members of the team
- Drive change and innovation
- Commit to work flexibility
- Define strategies and objectives clearly
Even after employing all these measures, building trust should not be seen simply as a single initiative. Maintaining this trust requires a continuous effort from all members of the team.
Likewise, trust in your workers makes it feasible to have flexibility regarding work schedule, holidays or location, since these aspects are no longer imposed by a hierarchical, top-down structure. They become just another aspect the employee manages within the framework of the search for a successful business project.
Netflix commits to fully formed adults
Netflix, the famous platform for online films and series, is a good example. The American company fosters a work model in which strong bonds are created with the workers from the very moment of their recruitment. To achieve this, their job description is“fully formed adults” , or in other words,“recruit, reward and tolerate only fully formed adults”.
Netflix stands by its policy that a healthy team culture requires fully formed adults with healthy attitudes to work and its challenges. To achieve this, they prioritise values such as resilience, self-acceptance, harmony and being aligned with the goals and objectives of the company.
Unlimited holidays at Netflix
Proof of the trust they place in their employees, Netflix has created a radical holiday management policy; unlimited holiday allowance, whereby employees are given the freedom to decide when and for how long they will take holidays. Another of its most innovative policies has been to avoid the bureaucracy of managing travel expenses, with these five words: “Act in the best interest of Netflix.”
Based on this premise, its human resources policy is to only recruit people who are able to embrace this concept. Workers who put the interests of the company first and who understand and share the notion of creating a high-performance workplace.
These measures are intended to keep attracting innovative employees, thereby ensuring the long-term growth of the company. The combination of self-discipline, freedom and commitment from the workers guarantees the success of this company philosophy.
The difference is, explains Netflix, that while the majority of companies invest time and money in coming up with human resource policies to deal with problems generated by a minority of employees, Netflix avoids recruiting this type of people in the first place. They only recruit responsible professionals in whom they can place their trust from the very beginning of the working relationship.
Netflix is just one example of how to gain success by applying effective recruitment strategies. The best thing about these policies is that, due to technology, even small businesses can apply these recruitment practices. The secret is to adapt the evaluation of the employee to their own company culture in order to develop a personalised recruitment policy for the company.
If you are committed to fully-formed employees or collaborators, who your company can place its trust in, inform us of your needs and we will be pleased to assist you.