Trust is a main building block for all relationships in our lives, and it’s no different when it comes to business. If your suppliers and business partners don’t trust you, you’re going to have a difficult time offering your products or services at a competitive price. If your customers don’t trust you, you’re either going to be constantly trying to attract new ones (which can be very expensive) or you’re eventually going to go out of business.
But what if your employees don’t trust you?
With most thriving companies around the country, there is typically one universal rule: success starts from within. So the fact that the vast majority of workers in the United States don’t trust who they work for is extremely alarming statistic, and one that needs your attention.
Recent surveys have found that over 80% of frontline employees in the U.S. are fearful of losing their job, and that same fear is seen in upper management as well; over 70% of CEOs are equally as fearful of being unemployed this year.
Why Are My Workers Quitting?
Employees are fearful in the workforce due to a variety of reasons, with the most prominent being threats of automation, lack of training, a possible recession looming, as well as the attractive options of the freelance economy.
Now while all of these factors have definitely caused some people to lose their jobs in the past, the alarming point here is that most workers simply do not trust the companies (and managers for that matter) they work for–especially when looking at threats of automation and lack of training as major factors of this anxiety.
When it comes to potentially losing your job, the main reasons that employees cite as to why they’re concerned are all essentially profit-related. In other words, workers believe companies will do anything to improve their bottom line and do not care about the people that are doing the work. That’s where the trust issues start for a lot of them.
Now if this is your company’s philosophy, well.. it’ll take more than a few small tweaks to fix those greed issues. But if you’re a business owner that is truly committed to investing in the people that you hire and not just focused on making the next quick buck, you need to make sure that your employees are appreciated (and know they are appreciated).
Because believe me: surrounding yourself with, investing in, and appreciating the team around you will pay much bigger dividends—and for a longer period of time—than focusing solely on making as much money as possible.