A lack of trust, especially during these times of the “new normal,” can cost organizations worldwide dearly. Now that remote working is gradually becoming the norm, organizations like Netflix that have revamped their policies to b more employee-trusting thrive. Those that have not will be left behind, as Stephen M.R. Covey, best-selling author and our guest for today’s episode, explains.
Stephen joins us in this episode of Brainfluence to break down some of the most valuable takeaways from his most recent book, Trust & Inspire: How Great Leaders Unleash Greatness in Others. He explains why the traditional Command and Control leadership model is unsuitable for organizations today and why it needs to be replaced by Trust and Inspire to foster better connections, growth, and accountability.
There’s no tangible or intangible benefit in clinging onto leadership models rooted in the Industrial Age – especially when it’s abundantly clear that these are seriously outdated. The new age calls for care and compassion in personal and professional relationships. “Caring inspires, and then when you connect people to purpose, to meaning, to contribution, that inspires as well.” Today’s employees want to be inspired, not led, and that can only happen when professional relationships too, are rooted in trust."High trust organizations outperform low trust organizations by about three times," says @StephenMRCovey Click To Tweet
Key Highlights – Stephen M. R. Covey
● [01:30] The importance of trust in our lives: Trust makes people and organizations happier, and is an underestimated performance multiplier and energizer.
● [03:45] Most organizations are designed for the approximately 3% of the people we can’t trust, not for the 97% that we can. The policies and procedures designed have always favored the minority.
● [06:34] Netflix’s “No Rules Rules” has trust at its heart: Showing how they eliminated many of their rules and practices, including those related to expense reporting, revealed how their reformed policies and procedures revolve around trust.
● [08:08] We think extending trust in an organization is risky, but NOT extending trust is even riskier.
● [12:27] Trust is a universal principle that translates differently in different cultures. The principles remain intact, but the practices vary.
● [13:21] One of the behaviors that build trust is to talk straight and speak the truth.
● [15:07] Trust and Inspire is a leadership style that needs to replace the traditional Command and Control model, says Stephen M.R. Covey.
● [18:48] Inspiring others, as Stephen shares, is a learnable skill. It’s a competency and a source of huge competitive advantage today.
● [20:08] Effective working in the new normal circumstances requires organizations to build trust in their employees. Micromanagement doesn’t work. For faster organizational growth, trust is necessary.
Stephen M. R. Covey Quotes
“Trust is like the air that we breathe. When it’s present, we don’t really notice. When it is absent, then everybody notices.”
“We put in place controls, policies, procedures designed because of the lack of trust. And that tends to perpetuate itself. It creates a lot of friction, it slows everything down and increases costs. And I call it a tax – low trust tax.”
“I’m not advocating blind trust, but rather smart trust with expectations and accountability.”
“High trust organizations outperform low trust organizations by about three times in total return to shareholders.”
“Inspiring others is a learnable skill. It’s a competency, and is a source of huge competitive advantage in our world today. Because people don’t want to be managed, people want to be led. They want to be trusted, they want to be inspired.”
About Stephen M. R. Covey
Stephen M. R. Covey is an author, educator, businessman, and keynote speaker. His book, The Speed of Trust, was a New York Times and Wall Street Journal bestseller translated into 22 languages. In his most recent book, Inspire: How Great Leaders Unleash Greatness in Others, Stephen talks about a new leadership style – Trust and Inspire – which he shares is the most necessary replacement to the traditional model of Command and Control.
Stephen M. R. Covey Resources
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Full Stephen M. R. Covey Transcript: