Trust – what does it mean?

Many corporations and other entities list TRUST as one of their values, but what do they mean by that?

What do you think of when you hear that word? Do you immediately think of the noun or the verb? Is it subjective or objective??

To flesh that out a bit further, does your mind turn to how you are, or can be trustworthy, or do your thoughts turn more to how trusting you are of others. The word Trustfulness is an Americanism that has crept into our vocabulary which has a similar meaning to trusting or being able to trust others. This is the opposite of having an unhealthy cynicism of everyone and everything.

Most of this article will come from the perspective of being trustworthy, but I don’t want to overlook how alternative understandings impact our own assumptions and perspectives.

As a verb, to have trust or be trusting is to?believe?that someone is good and?honest?and will not?harm?you, or that something is?safe?and?reliable.

Trustfulness is having the quality of being full of trust. Trusting others. The cynic would call this being naive or gullible but that is not what is meant by being trusting. Indeed, research and studies have shown that having a trusting cadence can be of particular benefit to leaders, managers, and negotiators.

So, are you, or is your entity trustful or trusting? That is, able to see the good in others rather than treat everyone and everything with suspicion. It has often been said that paranoia is self-fulfilling. If you treat everyone as though they are out to get you, then it may just be a matter of time before they are. It is difficult for those who are not trusted to maintain a warm disposition to someone that is openly hostile or suspicious of them. In a world where relationship management has never been more important, developing the ability to trust is a good start. Relationship management doesn’t replace risk management, checks, balances, documentation, accountability, and good governance are still necessary. But good relationship management with openness and honesty can be one of the main controls or mitigators for many of your strategic risks.

Now to turn our attention to trust (the noun). Being a person or an entity that can be trusted, that is, being trustworthy, will put us in good stead and enable long term survival.

Some of you may be familiar with the Trust equation:

Trustworthiness = The sum of credibility, reliability and intimacy divided by

?????????????????????????????????????????????????????????? self-orientation

That is, how credible you are in your offer of assistance, and if you are reliable and genuine in coming through with your offer. All of this is underpinned by your self-orientation – what perspective are you coming from and why can you be trusted in this act. A quick google will explain this further and although there are limitations, there is a lot of benefit in this equation. I particularly like the addition of self-orientation as it helps to centre the reason behind the ‘trustworthiness’.

The following article by Ruchi Sinha, New to the Team? Here’s How to Build Trust (Remotely) (hbr.org) shaped and helped me understand the important components of trust. The three components that help someone or something to be trustworthy is:

• Competency: being capable and reliable.
• Benevolence: seeking good for the other.
• Integrity: being true to your word.

Each of these characteristics are very important and worth honing, but not all are essential in every instance. I recommend the above article for further reference but let’s briefly look at each of these characteristics.

For some transactions, all that matters is competence. Medical procedures are the first thing that come to mind, but there are other occasions where it is also a critical component. While I hope my mechanic would not take advantage of me, benevolence is not as essential as competency. The car is no good to me if my mechanic is incompetent. And there are some instances where competence is not as critical as integrity or benevolence.?For example, there may be occasions where a good attitude of a trustworthy employee overshadows the competence in some instances. This all depends on the task being carried out, which is the exact point of this paragraph.

Of course, if none of these components are present, then it is very difficult to have trust. ?The more transactional the person or the relationship, the scales will be tipped more towards competence. This is further complicated by projection where transactional people assume that everyone else in transactional and cannot comprehend any other motivations.

Benevolence sits at the heart (pun intended) of motivations. In the trust equation this overlaps with self-orientation, and to some extent intimacy. (Intimacy is also concerned with the relationship of the relevant parties, but this should be of less importance when properly managing conflicts of interests.) ?While the narcissist may see any components of benevolence through the relationship lens (they are doing this for me because I am so good), benevolence can also tie into integrity where the act is because it is the right thing to do towards fellow humans. Ultimately benevolence is concerned with motivation.

Integrity is a complex word which encapsulates many of the adjectives used in the trust equation and tend to overlap quite a bit. Being true to your word tends to be inherent in credibility and reliability. Credibility contains competence but is also gained through being reliable. Integrity means holding your beliefs in such a way that you consistently and uncompromisingly Walk the Talk. Intentionally acting in a way that reflects your thoughts and goals.

There are two takeaways from this article:

·?????? Take the time to define your words properly, and

·?????? Take the time to hone your trusting and trustworthiness skills.

Don’t assume that everyone knows what TRUST means on your strategic plan or values statement. Is it a verb or a noun? Are you saying that as an entity you are trusting others or that as an entity you are trustworthy. Do we take a transactional approach and assume everyone is only out for their own good or are we trusting of others? Are we hoping to be seen as an entity or person that is trustworthy – that is credible and reliable? The old Commonwealth Bank brand used to include an elephant and the slogan ‘Get with the strength’ conveying its solidity. We no longer use phrases like this or ‘safe as a bank’ since recent Royal Commissions and changing perceptions.

What does it mean to be Trustworthy?

Do we act with Competence, Benevolence, and Integrity?