Is TRUST now the primary lever to drive growth?

Are you part of an emerging industry? Is your business trying to launch a new initiative but struggling with adoption??If you answered yes to either of these questions, continue reading…

How well do your customers (internal or external) trust you??How well do they trust the other providers in your sector? Is there a benchmark for comparison?

B2B, B2C, and C2C relationships all involve multi-sided marketplaces, and at an increasing level, trust is becoming the most important element of driving success in those relationships. That said, when you are trying to scale an effort, the degree of trust required of not only you, but of the entire ecosystem you are a part of becomes critical to driving a successful experience.

According to BCG Henderson Institute, the importance of trust on the success or failure of business ecosystems has a dramatically increased level of importance as those ecosystems move from Launch Stage into Scale and Maturity stages.?

At the Center for the Transformation of Work (CTW), our purpose is to transform work for a billion people by 2025, and we believe that leveraging digital marketplaces that democratize access to opportunities for meaningful work are at the center of this transformation.

Early on, we recognized that adoption of “open talent” models was lagging behind, particularly in large business, despite clear messages from the workforce, that they were actively pursuing a different way to engage with work.

Open Assembly, in collaboration with the Laboratory for Innovation Science at Harvard, has conducted significant research?and is actively helping businesses and governments deploy open talent models as an element of their workforce strategy. Building a Networked Organization – From Theory to Practice is playbook that they have published to aide organizations who recognize the opportunity but are struggling to figure out the “how”.

In conversations with people throughout the ecosystem – platform owners, freelance workers, operation line management, corporate strategy, and human resources leaders – it has become clear that status quo is a much easier pathway than introducing transformational change, but status quo is not working – for organization or for the workforce!

At CTW, we see the formation of trust as the primary driver in changing organizational behavior, and we’re taking action to bring transparency to where those trusted relationships belong throughout the open talent ecosystem!

Returning to the research from the BCG Henderson Institute, where they have defined seven sectors of trust to be measured, and we have launched the Trusted Talent Platform Partner program to assess and recognize the open talent platforms who have established trust with their clients – and soon, with their workforce!

Over the coming month, we will share the results of our Beta participants – spoiler alert, The Indie List is the first participant to be awarded! – and we are now welcoming applications from the 800+ Talent Platforms that we have identified to participate.

If you are interested in learning more, or if you are with a company that uses a digital platform to aide in the process of connecting people with work that would like to participate in the program, reach out and I’ll be happy to walk you through the process.

As Jon Younger the Forbes contributor who writes in this domain signs off on each of his pieces – Viva la revolution!

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