What are the speed of trust indexes?
The Speed of Trust Indexes (Organizational Trust Index, Leadership Team Index, Team Trust Index, Stakeholder Trust Index) provide a behavioral baseline of the trust dynamics that exist within a team or organization based upon Self Trust (4 Cores of Credibility), Relationship Trust (13 Behaviors of High Trust), and Organizational Trust.
What is the speed of trust transformation process™?
The Speed of Trust Transformation Process™ is leverage that dramatically impacts business outcomes through changing the performance of individuals and teams. This is not a separate initiative, rather, it is about HOW individuals and teams do their current work.
What is the speed of trust by Stephen Covey?
The Speed of Trust is a 2006 book by Stephen M. R. Covey. Within, Covey describes techniques that business leaders can use to inspire trust in both their followers and their customers, which is useful when compared to bureaucratic policies that assume maliciousness. A 3 Minute Summary of the 15 Core Lessons #1 Trust Increases Business Speed
What is the leading at the speed of trust participant kit?
This tool is included in the Leading at the Speed of Trust Participant Kit. The leader receives feedback in the context of the 5 Waves of Trust, including their perceived performance relative to the 4 Cores of Credibility and the 13 Behaviors of High Trust.
How long is the Speed of Trust training?
Leading at the Speed of Trust is a two-day workshop that elevates “trust” from an undervalued or transparent element of organizational effectiveness to a visible element of strategic significance.
What is the meaning of speed of trust?
When trust goes up in a relationship, or on a team, in a company, in an industry, with a client, with a customer—speed goes up with it and cost comes down. Everything happens faster and everything costs less because trust has been established. That's a dividend, a high-trust dividend.
Why is trust speed important?
Trust increases speed and thus lowers costs in businesses. You first have to trust yourself, because trust is similar to confidence. Societal trust is especially important for businesses to cultivate by contributing.
How does trust affect speed?
Your ability to build trust has a profound effect on business results because trust affects two measurable outcomes: speed and cost. When trust goes down (in a relationship, on a team, in an organization, or with a partner or customer), speed goes down and cost goes up.
How do you build trust speed?
0:146:273 Steps to Accelerate the Speed of Trust … in 3 Minutes - YouTubeYouTubeStart of suggested clipEnd of suggested clipThe key here is that we understand what Trust is but also how we build it and Trust is built fromMoreThe key here is that we understand what Trust is but also how we build it and Trust is built from the inside out meaning we start with ourselves. Look in the mirror. And it comes from our credibility.
How do you build trust trust speed?
13 Behaviors to Build Trust – Speed of TrustBe honest and let people know where you stand. ... Show that you care. ... Be transparent. ... When you wrong someone (hopefully, inadvertently), make things right. ... Give others credit more often and avoid gossiping about or bad-mouthing others.More items...•
What are the 5 waves of trust?
THE 5 WAVES OF TRUSTThe First Wave: Self Trust. ... The Second Wave: Relationship Trust. ... The Third Wave: Organizational Trust. ... The Fourth Wave: Market Trust. ... The Fifth Wave: Societal Trust.
What is Leading at the Speed of Trust workshop?
THE SOLUTION Leading at the Speed of Trust™ is leverage that dramatically impacts business outcomes through changing the performance of individuals and teams. This is not a separate initiative; rather, it is about HOW individuals and teams do their current work.
Is trust a learnable skill?
Trust isn't a quality you either have or you don't; it's a learnable skill. Teams and organizations that operate with high trust significantly outperform those who do not cultivate trust at the core of their culture. Developing trust helps team members become energized and engaged.
What are the 4 Cores of Credibility?
As my lawyer friends affirm, it basically boils down to these four issues: your integrity, your intent, your capabilities, and your results. Your credibility—as an expert witness, as a person, as a leader, as a family, as an organization—depends on these four factors.
What is a low trust culture?
A low trust society is defined as one in which interpersonal trust is relatively low, and which do not have shared ethical values.
Which two outcomes does trust always affect?
Trust always affects two outcomes: speed and cost. When trust goes down, speed goes down and cost goes up. When trust goes up, speed goes up and cost goes down. The serious practical impact of the economics of trust is that we are paying a hidden low-trust tax.
What is the book Speed of Trust about?
The Speed of Trust offers an unprecedented and eminently practical look at exactly how trust functions in every transaction and every relationship—from the most personal to the broadest, most indirect interaction.
What is a trust account the speed of trust?
Speed of Trust® Foundations Helps individual contributors communicate transparently with peers and managers, improve their track record of keeping commitments, collaborate in new ways, and learn new skills that help them close trust gaps within their team.
What are the 5 waves of trust?
THE 5 WAVES OF TRUSTThe First Wave: Self Trust. ... The Second Wave: Relationship Trust. ... The Third Wave: Organizational Trust. ... The Fourth Wave: Market Trust. ... The Fifth Wave: Societal Trust.
What is the fastest way to increase integrity speed of trust?
There are three ways to increase your integrity:Make and keep commitments to yourself: Be honest with yourself first! Treat internal commitments like you would a promise to another. ... Stand for something: Do what is right. ... Be open: Humility includes always seeking to learn and grow.
What is speed of trust transformation?
The Speed of Trust Transformation Process™ is leverage that dramatically impacts business outcomes through changing the performance of individuals and teams. This is not a separate initiative, rather, it is about HOW individuals and teams do their current work. Creating a high trust, highly engaged culture is the ultimate, long-term competitive advantage.
What is culture of trust?
Cultures of trust can only thrive aboveboard. Trust isn’t a quality you either have or you don’t, it’s a learnable skill. Teams and organizations that operate with high trust significantly outperform those who do not cultivate trust at the core of their culture. Developing trust helps team members become energized and engaged.
How does trust affect speed?
When trust goes down—in a relationship, on a team, in a company, in an industry, with a customer—speed decreases with it. Everything takes longer. Simultan eously, costs increase. Redundancy processes, with everyone checking up on everyone else, cost more. In relationships, on teams, in companies, that’s a tax. I call it a low-trust tax where literally everything is being taxed off the top. Where trust is low, everything takes longer and costs more.
How does trust impact schools?
You see the impact of trust in schools. High-trust schools have a 3.5 times greater probability of improving test scores than do low-trust schools.
How does trust impact outsourcing?
A Warwick Business School study in the UK showed that outsourcing relationships based on trust, as opposed to those based upon the service agreements—the contract only—the trust relationships outperform the others by 40%. They call it the 40% dividend.
How much does a high-trust organization outperform a low-trust organization?
Covey: A Watson Wyatt study shows that high-trust organizations outperform low-trust organizations by 286% in total return to shareholders. That’s stock price plus dividends—three times higher.
When trust goes up in a relationship, or on a team, in a company, in an industry,?
The opposite is true as well. When trust goes up in a relationship, or on a team, in a company, in an industry, with a client, with a customer—speed goes up with it and cost comes down. Everything happens faster and everything costs less because trust has been established. That’s a dividend, a high-trust dividend. It’s really that simple, that real, that predictable.
Is trust a key to a relationship?
In personal relationships, trust is always the key. It’s possible to like and even love someone. But if strong trust is not part of the relationship it can never reach its full potential.
Is high trust a dividend?
It goes on and on and on. You see high trust is a dividend, just as surely as low trust is a tax. And suddenly the soft topic becomes hard-edged, it becomes economic.
What is the purpose of the Speed of Trust Index?
The Speed of Trust Indexes (Organizational Trust Index, Leadership Team Index, Team Trust Index, Stakeholder Trust Index) provide a behavioral baseline of the trust dynamics that exist within a team or organization based upon Self Trust (4 Cores of Credibility), Relationship Trust (13 Behaviors of High Trust), and Organizational Trust. The Speed of Trust Indexes, as well as the Speed of Trust construct itself, have been proven by an outside research firm to be both valid and reliable, and have met all criteria to be accepted as a robust, scientific Structural Equation Model. ( click here to see the data ). By uncovering the underlying cause of trust, the SOT Indexes provide leaders with visibility into the specific trust gaps which are impacting team and organizational performance.
How to measure trust?
In addition to measuring trust generally, you also need to measure the components—the root cause. Understanding the specifics regarding "why" we have trust issues is critical. 1 we're not talking straight 2 everyone is spinning 3 we're not showing respect – everyone is disrespecting each other 4 we're not extending trust 5 we're not being accountable
What is a trust quotient?
The Trust Quotient is a personal 360° assessment sent to direct reports, peers, and boss. This tool is included in the Leading at the Speed of Trust Participant Kit. The leader receives feedback in the context of the 5 Waves of Trust, including their perceived performance relative to the 4 Cores of Credibility and the 13 Behaviors of High Trust. A post-tQ 360 is also included and can be taken 90 days after the original tQ.
Why is trust important?
3 reasons why trust is so vital: 1. Trust is a Multiplier. High trust makes you better at everything else you need to do. Low trust is a diminisher, a diluter, a divisor, a tax. 2. Trust is an Accelerator. With high trust, you can do everything you need to do, better and faster. Speed is the name of the game today.
What are the things that require trust?
All those things require trust. You can't collaborate with people you don't trust. You don't partner with people you don't trust. How about attracting people, retaining people, engaging people? How about innovating, creating? You need trust. Anything dealing with speed. Leading change. The impact of trust is dramatic and pervasive. It’s something you can’t escape. Trust changes everything.
Handouts
The Speed of Trust (Trust Defined) Trust Taxes (Speed of Trust) 4 Cores of Credibility (Charts) 13 Behaviors (The Speed of Trust) GET ABSTRACT The Speed of Trust GET ABSTRACT Smart Trust
Videos
The Speed of Trust (homepage w/ video segments) How Do You Measure Trust and Why You Should What if You Could See Trust? The High Cost of Low Trust The High Cost of Low Trust (Interview) The Speed of Trust as a Performance Multiplier
Who wrote the book The Speed of Trust?
The Speed of Trust is a 2006 book by Stephen M. R. Covey. Within, Covey describes techniques that business leaders can use to inspire trust in both their followers and their customers, which is useful when compared to bureaucratic policies that assume maliciousness.
What is organizational trust?
Organizational trust is what happens when everyone within a company or group trusts one another, increasing efficiency and lowering the cost of activity. #12 Market and Societal Trust. The fourth and fifth waves of trust deal with trust from the market and across society as a whole.
How does Covey liken trust to self confidence?
Covey likens trust to self-confidence, which is only created when your competence and your character integrity come together. You must first trust yourself by developing four major aspects of your personality and leadership style. #4 Integrity, the First Trust Aspect.
What does Covey say about trust?
Covey attests that trustful relationships allow business to proceed more smoothly and quickly. In keeping with the above, Covey contests that relationships that are founded on trust can lower the cost of your business model.
What is a good track record?
A good track record can also stand-in for a demonstration of your capabilities to potential clients and business partners. #8 Contribute to Build Trust. When you’re building trust within a business or with your employees, it’s often a good idea to contribute as you can.
