Trust as a Core Competency
In any construction, the foundation serves as the structure that holds the building from the ground. The higher the building, the deeper is the foundation needed for it to provide stability to the structure and an anchor against any powerful natural crisis – storms, earthquakes, wind.
Now let’s relate that to a company’s core competency.
What is Core Competency?
Core competency is a company’s defining characteristic that gives it a competitive edge. You can have more than one, but it is best to keep it at three.
It is your company’s attribute that cannot be easily replicated by companies within your industry.
Your core competency should be deeply rooted in your organization. So get your whole team, set some time for this activity, and together, identify what distinguishes you from your competitors.
Trust as a Core Competency
When your company creates a reputation for trustworthiness, in all your dealings and the quality of products you produce, client retention will be no problem.
You will create a loyal customer base that will serve as your brand ambassadors. Study shows word of mouth marketing is the most effective form of marketing.
It is therefore crucial that trust competency is developed in each of your teams. It is only then that it can become a competitive edge for your company.
How to develop trust as a Core Competency?
- Create a culture of transparency and open communication.
Leaders must encourage their team to share their thoughts and express their opinions without fear of rebuke or humiliation. Trust is developed through deep conversations and collaborations because your team will feel safe and secure in the thought that their opinion matters.
And when they make a mistake, they will not be scared to admit it and ask for help because they know the whole team will come to their rescue.
Great things can be achieved when your team develops a collaborative and cooperative spirit.
- Be respectful
Respect earns trust. When you respect a person, don’t you find it easy to trust the person? These two co-exist. You can not respect someone and not trust him. Respect comes before trust.
Behave in a way that will foster respect – listen intently when someone is speaking, treat everyone with respect as you would want to be respected regardless of rank or position, practice common courtesy, have integrity and be kind.
- Be trustworthy
Let your word be your contract. Say what you mean, and mean what you say regardless of who you are dealing with – client, colleague, friends, or family.
In business, each customer touchpoint must practice trustworthiness. Do not make promises you can not keep because any breach of trust will reflect on your company.
Trust is a competency that your company can develop as an organization. Consumers are more vigilant these days with the help and convenience of digital information. Your brand must be known for integrity, transparency, and accessibility. It is crucial that people can easily reach you for any feedback. People trust people, not bots.
Start this process by employing a Trust Index survey within your organization. How do you think you will rate?