Most organizations have growth as a clear strategic goal but may often overlook the importance of trust and the role it plays to help drive and support business growth. Trust is a key aspect that affects all areas of a business – from employee morale to customers’ buying decisions. Here are a few important considerations about building trust in business.

What Is Trust?

The dictionary defines trust as the “firm belief in the reliability, truth, ability, or strength of someone or something.” Prioritizing business growth at the expense of building trust among your consumers or workforce can produce damaging results in the long run. Employees need to trust their co-workers and their leaders, and consumers need to trust the brands and companies they choose before making a purchase decision.

Why Is Trust Important for Business Growth?

Trust can help propel business growth. A workforce that trusts their leadership and their colleagues are better equipped to work together in the face of a challenge. Clients and consumers who trust your brand are most likely to buy from you not just once but many times and may also tell friends and family to do the same.

Mid-level management and other leaders in your organization who have built trust among the teams they lead can usually get better results out of their teams by creating a positive work environment and cultivating trust rather than creating a low-trust culture where people are hesitant to tell the truth.

How Do You Build Trust Among Your Workforce?

Training and empowering your leaders to build trust in the workforce can be a long-term investment that usually pays off in the form of a cohesive, well-oiled workforce that relies on one another to overcome challenges. Taking simple steps such as listening, showing appreciation for your team, encouraging team members to be concise, direct, and truthful, and empowering the team by showing that you trust them first are just a few examples of how to build trust in your workplace.

From a consumer’s perspective, it is hard if not impossible to buy something from a company or a salesperson you don’t trust. Trust is the factor that turns a prospect into a paying customer and building a relationship of trust among your clientele through honest business practices and effective marketing and branding will ultimately affect your bottom line and determine whether a customer will buy from you again and generate referrals or not. When a customer knows that your brand will deliver the solution they need because your company is truly invested in what is best for the customer rather than only focusing on profits, business growth comes naturally as a result of trust.