Trust, Credibility and Business

Trust and credibility are an absolute necessity to be able to conduct business with anyone. People don’t buy from companies or sales people they do not trust, employees don’t feel engaged when they can’t trust their manager, and companies don’t hire consultants or employees who lack credibility. Trust and credibility are pre-requisites to doing business.

However, in the age of “fake news” trust and credibility in the business world have being hit hard and cynicism and suspicion are at an all-time high. Edelman(1) warns that seven in ten individuals feel that false information is being weaponized.

Considering that today many businesses are rated on social media sites or on catalogs online, one must consider the possibility that these review sections could be used to hurt business. Employees with a grudge could post untrue negative reviews about management practices, competitors posing as customers could post fake negative reviews about services or products, and people like hackers who simply want to disrupt business could use review sites as a means to create havoc.

How do you maintain trust and credibility of your business? Can we assume false information will sort itself out without our intervention? Is there anything we can do to be proactive to strengthen our credibility?

Knowing what triggers individuals to lose trust in others and expertise on how to build trust quickly are two critical skills for today’s leaders. Do you have a trust and credibility strategy?

Sources:

  1. Edelman (2018) 2018 Edelman Trust Barometer. Retrieved from https://www.edelman.com/trust-barometer
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