ne of the challenges presented by the pandemic is defining what the “new normal” will be in our workplaces. Everything from office layouts to how an institution addresses high-level business challenges is up for discussion. How might an institution restore trust after it has been ruptured? In many respects, this is the question of our time, one that all CEOs and boards should be considering.
Why trust? Our actions and interactions in society are guided along through a quiet often invisible framework of trust, however latent, implicit, or subconscious it may be. At an institutional level, trust is a non-material asset on which material success depends.
Yet, trust never stands alone. It is embedded within a dynamic field of interrelated and interdependent forces. In this sense, trust, when intact, remains invisible. It is made visible when one or more players in that field breach that trust—whether intentionally or unintentionally. Based on the severity and repetition of that breach, a crisis eventually occurs, resulting in a trust deficit that may not be reparable.
According to the Wall Street Journal, a Pew Research poll conducted in June 2019 of over 1,000 adults found that trust in corporations is mixed—while small businesses get a score of 68 (ranked second behind the military), large corporations are fourth from the bottom with a score of 23.
Companies often turn to lawyers, lobbyists, public relations personnel, crisis managers, social media experts, and other such specialists to try to clean up their reputation and restore trust. The public, however, often remains skeptical, suspicious of spin and disinformation, and understandably becomes even more unwilling to trust again.
Several companies have sought to transform themselves and their business model in an effort to rebuild trust with their clients, investors, and other constituencies. And yet, that trust often remains elusive and appears out of reach. The co-authors the “Towards a Restoration of Trust?” white paper have observed this phenomenon closely and conducted research into why this might be and what to do about it. The lessons learned are instructive for any business or for that matter, non-profit organization.
“Best practice” approaches typically have a transactional and conditional nature to them. If the offending company makes some form of amends, acknowledges its offending acts, and takes concrete actions to reassure stakeholders that it has put in place new policies and practices to ensure those acts will not be repeated, then the offended party is expected to forgive, and trust is restored.
The problem with this “best practice” approach, however, is that it does not always work. Perhaps something is missing?
That “something” may well be illuminated by the wisdom teachings found in many religious traditions to help expand our thinking and approaches to repairing broken trust. These traditions often have a focus on healing and restoration. They invite the whole person into and open up a vast range of vistas and perspectives, dimensions, temporalities, spaces, practices, networks, and frameworks of choice that complement and aid in considering afresh the question of restoring trust. It is precisely in their timeless perspectives and focus on healing broken relationships where religious traditions might offer distinctive resources and critical perspectives on perennial challenges to restoring fractured relationships in institutional life. By considering such perspectives, the frame for problem solving, creativity, and new ideas is expanded and enriched.
We operate in an extremely competitive global market economy that places high expectations on speed, innovation, increasing corporate profits, and return on investment. These traditional performance pressures now include attention to wider stakeholder relationships and ESG considerations. We also operate as human beings with our own high expectations and eternal yearnings for dignity, respect, and trust.
Various religions have spent thousands of years thinking about the human condition, when people and societies flourish, and how to respond to brokenness. In 2021, institutions might benefit from the insights and lessons gained from these wisdom traditions to offer unexpected approaches to rebuild trust within the marketplace and an organization’s many stakeholders. With a history of failed “best practice” attempts littered behind us, why not explore a future that draws on ancient wisdom about humanity to help heal and rebuild trust?
During this journey, we may discover how to go from the merely transactional to the truly transformative.
Publisher's Note: This editorial is sponsored by Philip Morris International under the leadership of incoming CEO, Jacek Olczak. Based on “TOWARDS A “RESTORATION OF TRUST? Preliminary Insights and Lessons from Wisdom Traditions,” by David W. Miller, Ph.D. and Michael J. Thate, Ph.D., January 2020.
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Learning to Rebuild Trust from Unexpected Places
Photo via AdobeStock.
May 4, 2021
O
ne of the challenges presented by the pandemic is defining what the “new normal” will be in our workplaces. Everything from office layouts to how an institution addresses high-level business challenges is up for discussion. How might an institution restore trust after it has been ruptured? In many respects, this is the question of our time, one that all CEOs and boards should be considering.
Why trust? Our actions and interactions in society are guided along through a quiet often invisible framework of trust, however latent, implicit, or subconscious it may be. At an institutional level, trust is a non-material asset on which material success depends.
Yet, trust never stands alone. It is embedded within a dynamic field of interrelated and interdependent forces. In this sense, trust, when intact, remains invisible. It is made visible when one or more players in that field breach that trust—whether intentionally or unintentionally. Based on the severity and repetition of that breach, a crisis eventually occurs, resulting in a trust deficit that may not be reparable.
According to the Wall Street Journal, a Pew Research poll conducted in June 2019 of over 1,000 adults found that trust in corporations is mixed—while small businesses get a score of 68 (ranked second behind the military), large corporations are fourth from the bottom with a score of 23.
Companies often turn to lawyers, lobbyists, public relations personnel, crisis managers, social media experts, and other such specialists to try to clean up their reputation and restore trust. The public, however, often remains skeptical, suspicious of spin and disinformation, and understandably becomes even more unwilling to trust again.
Several companies have sought to transform themselves and their business model in an effort to rebuild trust with their clients, investors, and other constituencies. And yet, that trust often remains elusive and appears out of reach. The co-authors the “Towards a Restoration of Trust?” white paper have observed this phenomenon closely and conducted research into why this might be and what to do about it. The lessons learned are instructive for any business or for that matter, non-profit organization.
“Best practice” approaches typically have a transactional and conditional nature to them. If the offending company makes some form of amends, acknowledges its offending acts, and takes concrete actions to reassure stakeholders that it has put in place new policies and practices to ensure those acts will not be repeated, then the offended party is expected to forgive, and trust is restored.
The problem with this “best practice” approach, however, is that it does not always work. Perhaps something is missing?
That “something” may well be illuminated by the wisdom teachings found in many religious traditions to help expand our thinking and approaches to repairing broken trust. These traditions often have a focus on healing and restoration. They invite the whole person into and open up a vast range of vistas and perspectives, dimensions, temporalities, spaces, practices, networks, and frameworks of choice that complement and aid in considering afresh the question of restoring trust. It is precisely in their timeless perspectives and focus on healing broken relationships where religious traditions might offer distinctive resources and critical perspectives on perennial challenges to restoring fractured relationships in institutional life. By considering such perspectives, the frame for problem solving, creativity, and new ideas is expanded and enriched.
We operate in an extremely competitive global market economy that places high expectations on speed, innovation, increasing corporate profits, and return on investment. These traditional performance pressures now include attention to wider stakeholder relationships and ESG considerations. We also operate as human beings with our own high expectations and eternal yearnings for dignity, respect, and trust.
Various religions have spent thousands of years thinking about the human condition, when people and societies flourish, and how to respond to brokenness. In 2021, institutions might benefit from the insights and lessons gained from these wisdom traditions to offer unexpected approaches to rebuild trust within the marketplace and an organization’s many stakeholders. With a history of failed “best practice” attempts littered behind us, why not explore a future that draws on ancient wisdom about humanity to help heal and rebuild trust?
During this journey, we may discover how to go from the merely transactional to the truly transformative.
Publisher's Note: This editorial is sponsored by Philip Morris International under the leadership of incoming CEO, Jacek Olczak. Based on “TOWARDS A “RESTORATION OF TRUST? Preliminary Insights and Lessons from Wisdom Traditions,” by David W. Miller, Ph.D. and Michael J. Thate, Ph.D., January 2020.
