Building Employee Trust: A New Equation

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In this competitive business world, gaining employee trust and maintaining it is crucial, as it significantly impacts the company’s revenue generation and reputation as an employer in the marketplace. Trust is the confidence or belief a person feels toward a particular person or group and in today’s business there is an increased propensity to develop trust in an organization as business is built through fruitful relationships. Businesses with increased trust levels are more profitable and have higher shareholder value than those firms with low trust level because workers with great trust in their management/organizations persistently endeavor for excellence, communicate effectively, find solutions to problems, put in extra effort in their work and bring about positive change in the organization and in the financial performance of the company. It is a prerequisite of the management to make trustworthiness a top priority in an organization. Such prioritization paves the way for employees to work towards achievement of shared goals, and creates an engaging work culture, which leads to achievement of business success and booming profits. To succeed in today’s competitive business scenario, it is essential that employers take initiatives to establish and preserve trust among their employees. This is even more crucial in organizations where trust is ‘injured’ or eroded because businesses are strongly built on the basis of effective relationships. In a nutshell, it is a prerequisite for a management to constantly practise trust management and prioritize trustworthiness in order to gain competitive advantage and profits through high workforce performance excellence.

ABOUT THE AUTHOR K. Sangeetha

K. Sangeetha holds a bachelor's degree in Pharmacy (B.Pharm) and a master's degree in Business Administration with specialization in Marketing and Finance. She has five years of academic experience in teaching Pharma and Management. She is presently working as Faculty Associate at the Icfai Business School Research Center, Chennai. She is an active contributor of articles to various management journals and business magazines. Her areas of interest are HR, Marketing and Consumer Behavior.

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Bibliographic information

Title
Building Employee Trust: A New Equation
Author
Edition
1st ed.
Publisher
ISBN
8131408752
Length
280p.
Subjects