The Speed of Trust by Steven M. R. Covey

Posted on February 14, 2010

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The Speed of Trust by Steven M R Covey

The Speed of Trust by Steven M R Covey

A leadership lesson on trust, The Speed of Trust by Steven Covey is a MUST READ for leaders who want to find out how they can instill a culture of trust in their team and foster a trusting working relationship within it.

The One Thing that Changes Everything

While traditional business owners define results to be the product of strategy and execution, Steven Covey contends this by showing how results may be killed in the absence of trust, even when there is a strong strategy and efficient execution. Instead, trust should be included into the equation, for trust positively relates to speed when more confidence in management spurs workers to become more efficient and negatively relates to costs. Trust is the most powerful form of motivator, and is a function of character and competence. Covey identifies five waves:

  1. Self Trust
  2. Relationship Trust
  3. Organisational Trust
  4. Market Trust
  5. Societal Trust

I. Self Trust: The Four Core Credibility

Trust in individuals come when the following four core credibility’s are present:

  1. Integrity- Being honest, leading by example, humility and moral leadership.
  2. Intent- Guides behaviour and inspires trust that you have one’s best interest
  3. Capabilities- Trust that you have the necessary and appropriate skills to lead
  4. Results- trust that you can deliver

II. Relationship Trust- The 13 Behaviours

Trust in relationships come when others trust one’s character and competence. This is displayed in the following 13 behaviours:

  1. Talk Straight- The undistorted truth
  2. Demonstrate Respect- Treat everyone with respect and kindness
  3. Create Transparency- Prevents doubts
  4. Right Wrongs- Admit mistakes and remedy them, avoiding cover-ups
  5. Show Loyalty- Give credit and avoid negatively talking about others
  6. Deliver Results- Under-promise and Over-deliver
  7. Get Better- Constantly renew and gain capabilities
  8. Confront Reality- Acknowledge the tough stuff directly
  9. Clarify Expectations- Avoid assumptions
  10. Practice Accountability- Hold yourself and others accountable
  11. Listen First- Seek to understand before being understood
  12. Keep Commitments- Mean what you say
  13. Extend Trust- demonstrate trust to those who have earned it

III. Organisational Trust: Alignment

Trust in and within the organisation can be established by aligning the culture, structure, system and values. It also helps to create a strong vision which everyone can relate to so as to have a mutual goal and expectation. Seven creators of organizational mistrust are redundancy, bureaucracy, politics, disengagement, turnover, churn among customers and fraud.

IV. Market Trust: Reputation

Trust can be established with customers by applying the four core credibility and 13 behaviours.

V. Societal Trust: Contribution

Trust can be built with the society by creating value for the society and contributing to it.

Smart Trust

For trust that is truly successful and imperative for the organisation , it has to be what Covey describes as Smart Trust. This involves having the propensity as well as the analysis, creating a well formed trust, as opposed to mistrust, blind trust, or a lack of trust.

The Speed of Trust would certainly be useful for leaders who wishes to enhance the quality of trust within their team or with their customers or who sees how trust may massively benefit their team.

Click The SPEED of Trust: The One Thing That Changes Everything to get your copy now, or find it at the Books page!

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