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GIODN Book Review – The Speed of Trust by Stephen Covey

Trust is the key factor in success in nearly everything we do. This is what son of the famous Stephen Covey, Stephen M. R. Covey explores in his book “The Speed of Trust: The One Thing That Changes Everything.” This book was featured as the September Book Club for GIODN. Let’s look at some of the highlights.

 

What’s the gist?

The economics of trust and how to cultivate great trust in yourself, your relationships.

Trust means confidence and the opposite of trust is suspicion. Trust within companies is low and unethical conduct is rampant. Only 51% of employees trust senior management. Only 36% of employees believe leaders act with honesty and integrity. 76% of employees have observed illegal or unethical conduct.

Trust increases speed and thus lowers costs in businesses. This occurs through the See-Speak-Behave cycle as seen in the model below.

5 Waves of Trust Model

You first have to trust yourself, because trust is related to confidence. From there you have to have trust in the relationships closest to you. Next you need to have trust within the organization and its staff. This leads to market trust in the organization and the products and services it has. Societal trust is especially important for businesses to cultivate by contributing to the community.

 

The 4 Cores of Credibility

You need to have credibility to have trust. For this, Covey uses a root and tree model to describe the 4 cores of credibility.

Integrity is about being honest whenever you get a chance. This is your character. Intent comes from questioning your motives and developing admirable ones. Capabilities is all about developing skills, even when you don’t have to. Capabilities are display through TASKS: Talent, Attitude, Skills, Knowledge, and Style. Results are the tangible, measurable, end purpose and product. Capabilities and results are your competence.

 

Truth matters in every relationship. What you do has a greater impact than what you say. In order to increase you trust Covey offers 13 behaviors.

  1. Talk Straight
  2. Demonstrate Respect
  3. Create Transparency
  4. Right Wrongs
  5. Show Loyalty
  6. Deliver Results
  7. Get Better
  8. Confront Reality
  9. Clarify Expectations
  10. Practice Accountability
  11. Listen First
  12. Keep Commitments
  13. Extend Trust

 

Trust matters because they contribute back to your organization. Covey outlines the 7 High-Trust Dividends.

  1. Increased Value
  2. Accelerate Growth
  3. Enhanced Innovation
  4. Improved Collaboration
  5. Stronger Partnering
  6. Bette Execution
  7. Heightened Loyalty

 

 

Thank you to those of you have joined us for our September Book Club at GIODN. This book highlights what many of us already know – trust matters. Covey outlines ways to boost trust and improve the productivity in an organization. I highly recommend this book for anyone looking for to boost the way their organization works together and their effectiveness as a leader.

 

Institute of OD (IOD) offers online Organization Development Certification Programs to help participants gain skills to advance their career in the field of OD.  Each program provides 24 HRCI credits.

Check out our programs and schedules at www.instituteod.com