The cornerstone of an employee-centric culture is trust and it accomplishes much more than helping employees feel job security. Trust is a vital and underused advantage that has been proven to help organizations grow and boost profitability.
A Harvard Business Review study on organizational culture explored the science behind trust, suggesting eight behaviors to increase trust in the workplace: recognize excellence, give challenges, give direction, enable job crafting, build relationships, facilitate personal growth, ask for help, trust your employees, and facilitate open communication.
Interestingly, all of these things relate to openness to hear and share ideas, opinions, feelings, and desires at work - in other words, open communication. However, organizations have a lot of work to do to respond to this change since 60% of employees reported that they do not feel aware of company priorities.
Consider the impact of today’s technology on how we communicate.Think about online reviews and how they open communication. If an employee is performing well, he or she may be noticed from a comment on social media or an online review. Likewise, if an employer is doing well, companies like Glassdoor reveal everything from sentiment about the CEO to salary expectations. People expect a level of transparency and flexibility at work that is totally different from what was expected even five years ago.
Companies that create daily communications between managers and employees have been found to improve workforce engagement. Regularly inviting employee ideas through a pulse communication platform like Waggl, which offers real-time employee feedback, has a powerful effect on morale and creating long-term team investment.
Open communication creates trust and organizations with high trust report: 74% less stress, 106% more energy at work, 50% higher productivity, 13% fewer sick days, 76% more engagement, 29% more satisfaction with their lives, and 40% less burnout.
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