Stephen Covey Speed Of Trust

[Aiko Bartels]

Trustis a critical component looking to improve productivity and accelerate growth, and no one understands this as well as FranklinCovey. Their approach helps companies move faster, make better decisions, and deliver quality to customers; it can also help transform a corporate culture.

Helps learners propel themselves and their team further and faster through trust. It is most useful for learners seeking to build credibility, strengthen relationships, and improve collaboration to deliver essential results.

When trust is low, people become suspicious, guard communication, speculate, and disengage. As a result, productivity grinds to a crawl, and costs increase. We call these trust taxes.

When trust is high, people become confident, and communication, creativity, and engagement improve. As a result, productivity speeds up, and costs decrease. We call these trust dividends.

The Speed of Trust helps organizations better manage change and create high-performing teams that are agile, collaborative, innovative, and engaged. As we have learned: many organizational performance issues are actually "trust issues in disguise."

In early 2011, a company made a major investment in Agile. An intentional decision was made from the executive level down to the grassroots that an Agile approach would be used to develop products. An investment in training, months of coaching, and lots of hard work led to measurable results.

Covey goes on to describe trust taxes and trust dividends. These are the sometimes hidden variables that quantifiably increase or decrease trust in measurable ways. As an example, he puts a twist on the traditional business results formula that says results (R) equal strategy (S) multiplied by execution (E). He says (where T is trust):

Self trust relates to our own credibility. The book focuses on four cores of credibility: integrity, intent, capabilities, and results. This is the foundation of being able to effectively contribute to an Agile team.

When of lean and agile development were introduced in our company, we invested a lot from our trust vaults. The first months were full of thunders, to say the least. Fortunately, now we focus on making permanent the new behaviors.

Speaking of which, I also like your idea that Agile and Trust are Behaviors. This is something to be reminded, as there are many people who believe that they can run a transformation project, declare being agile, and then continue with old working habits.

Sadly, these old habits die hard. Quite often they start kicking again. Now that I think about the last several months of my experience, provided that the trust still exists, these old habits can be overcome with a little effort. Thus reducing the cost and increasing the speed.

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Covey convincingly validates our experience at Dell -- that trust has a bottom-line impact on results and that when trust goes up, speed goes up while costs come down. This principle applies not only in our professional relationships with customers, business partners, and team members but also in our personal relationships, which makes this insightful book all the more valuable."

-- Kevin Rollins, President and CEO, Dell Inc.

"This book can change lives. Covey helps us understand how to nurture and inspire immediate trust in every encounter, which is the foundation for true and lasting success in life. A very interesting and enlightening read."

-- Larry King

"Covey brilliantly focuses on that overlooked bedrock of democratic capitalism -- trust. Like the air we breathe, we too often take this critical intangible for granted. As Covey makes clear, we do so at our ultimate competitive peril."

-- Steve Forbes, President and CEO, Forbes

"Want to be an irresistible positive force? Combine personal responsibility with compassion and respect for others. Want to know how to do this perfectly? Read The Speed of Trust."

-- Dr. Laura Schlessinger, internationally syndicated radio host and author of The Proper Care and Feeding of Marriage

"Covey's book underscores the single most important factor -- the substrate -- that will determine the success (or failure) of any organization in the 21st century: TRUST. This is a powerful read: brave, imaginative, amazingly prescient, and backed up by empirical and analytical heft. A must-read for anyone in a position of responsibility, from a support group to a global corporation."

-- Warren Bennis, Distinguished Professor of Business Administration, USC, and author of On Becoming a Leader

"This much-needed book provides many practical examples of how greater trust produces better results, at less cost, sooner -- at work and in life. It's invaluable."

-- Spencer Johnson, M.D., author of Who Moved My Cheese? and coauthor of The One Minute Manager

"Stephen Covey's work changed the world. I'd bet the price of this exciting book and more that his son, Stephen M. R. Covey, will have at least as much impact. The Speed of Trust is an amazing book, starting with its novel and powerful title -- my greatest wonder was why it hadn't been written before. From the epigraph -- 'Speed happens when people truly trust each other' -- to the closing bell, this is a book worth savoring -- and implementing."

-- Tom Peters

"When I received this book and was asked to read it and offer my comments, my first impulse was, 'I don't have the time.' However, as I read the foreword, then the first few chapters, I could not put it down. It is exactly what business leaders need today. This book gets to the core roots of ethical behavior and integrity and how 'trusted' leaders and organizations do things better, faster, and at lower cost. Everyone should make the time to read this book."

-- Nolan D. Archibald, Chairman and CEO, The Black & Decker Corporation

"I am happier when I am trusted, and I bet you are too. Covey has done a masterful job teaching that trust is conditioned on our behavior and that we can consciously shift our behavior to deserve trust. This one realization can change your life. This is the best book by a Covey since 7 Habits."

-- Richard Carlson, Ph.D., author of Don't Sweat the Small Stuff and Don't Get Scrooged

Now identify a second person that you need to work with but with whom you have a low-trust relationship or with whom the trust-level is not where you want it to be. Now re-answer those same questions.

Trust affects 2 measurable outcomes: speed and cost. When trust goes down, speed goes down and cost goes up. This is called Low-Trust Tax. Take a look at what happened with airplane travel since 9/11. Steps must be taken to compensate for the lack of trust and it costs. Conversely, there is what is known as a High-Trust Dividend: when trust goes up, speed goes up and cost goes down. Think of your Vistage peer-advisory group as an example.

The way we diagnose is from the outside moving in, but when you want to change something or transform something, you start from the inside moving out. It is vital to start with self-trust. When you start there, everything takes root.

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Stephen M. R. Covey is the former President and CEO of Covey Leadership Center, which, under his direction became the largest leadership development company in the world. He is the New York Times bestselling author of The SPEED of Trust: The One Thing that Changes Everything.

Kruse: I'm excited to have you, and I told you to hold some thoughts because I was so excited just in our pre-chat, I wanted to get us rolling. I mentioned in your intro that your book is The Speed of Trust: The One Thing That Changes Everything. And I want to ask you why is it the one thing? Why is it so important? And I know you've got a new edition of the book out, and you say it's more important and relevant now than ever before. Tell me about that.

And the reason why it's the one thing that changes everything is simply because it is like a multiplier for everything else that you're trying to do. It makes you better. You still have to do those other things, but you can do it better when you start with trust. And so it's always mattered, but I think, Kevin, never more so than today in a world of declining trust with all this change and disruption that's hitting us and a greater need for collaboration, for innovation, and for really inspiring people, especially millennials. And so trust is really an idea whose time has come, is what I believe. It mattered 10 years ago. It is even more important today.

Covey: Yeah. Well, I'll tell you what. Just like trust itself can be contagious, when people trust each other, it tends to spread. What's even more contagious is distrust, and that can spread the other direction, where if people become a little bit more careful, more cautious, more guarded, more cynical, more suspicious, people will respond back more careful, more cautious, guarded, suspicious, cynical because nobody wants to get burned. And we can find ourselves perpetuating a vicious downward cycle of distrust and suspicion creating more distrust and suspicion and everyone feeling justified.

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