How important is trust to your business?
Brian Moriarty says it’s just about everything, and that trust protects you from risk.
Moriarty, who is the director of Darden’s Institute of Business in Society, told a PRSA Richmond audience that employee engagement can help build reputation and trust.
This happens, he says, because we are social creatures. We like to share things we value. As a result, trust becomes the engine of advocacy.
Among the dimensions of trust are good will, integrity, confidentiality and transparency. Moriarty pointed out that when some element of trust exists, things run more smoothly. Trust impacts employee performance, innovation and customer acquisition, for example.
He cited USAA, an insurance agency that is consistently rated first in customer service and loyalty. USAA is known for valuing its members.
As it happens, I am a member, and right after I tweeted about it, they replied by tweet. Not only did they thank me for the tweet, they thanked me for my membership.
That level of engagement only increases my trust and makes me a stronger advocate for the company.