Managers should develop a trusting relationship between themselves and their employees to boost business performance.
Research by the Chartered Institute for Personnel and Development (CIPD) revealed that employees who do not trust the decisions of their management team were more likely to look for employment opportunities elsewhere.
Those workers who had faith in the actions of their directors and senior managers were much more likely to perform their duties at full capacity and also want to remain in their job in the long-term.
Managers can build trust in the workplace by actually doing what they say they intend to do, rewarding employees when appropriate and acting transparently when making important decisions.
Sticking to an organisation’s positive values and culture is especially essential in troubled economic times because this will encourage trust as well as improve feeling of job security, which will in turn increase productivity.
Trust is the most vital component of a relationship between management and employees so it is crucial that all actions performed within the workplace are deemed to be fair and balanced.
There is a greater risk during tough economic times for employers to put less emphasis on retaining staff because they believe that workers are put off moving company due to a shrinking job market.
An apathetic approach to staff retention should be avoided at all costs as new positions are still available for job seekers in current employment that are appropriately motivated and skilled.
Workers are more likely to look for a new employer if they are stressed and experiencing pressure in their current job because of increased workload for the same salary.
Senior managers are scrutinised more during an economic downturn as tough decisions such as making redundancies can be deemed to be a consequence of poor management even when it might be out of their hands.
Greater transparency and effective communication can help maintain trust levels between employees and management when hard decisions have to be made in order to secure the future of a business.
Removing communication barriers between an employee and their directors will help improve levels of trust within the workplace as there will be greater understanding of the motivation behind decisions.
Performance improvement consulting professionals can boost an organisation’s productivity levels by examining their processes to see how efficiency can be enhanced.
Effectively applying systems thinking business theory to an organisation can enable managers to see how to improve business performance through the redesign of processes.
Source by Martin Hofschroer