How Important Is Trust in Business Practices and Employee Relationships? 

Trust is essential in any relationship, even that of business leaders and their employees. When there is trust between employers and employees, employees tend to feel more at ease and more willing to take initiative and innovate. Organizations can reap the benefits of a more engaged and positive team by creating a safe environment.

Importance of Trust in the Workplace

Trust in an organization can result in the following:

• Improved employee engagement and motivation—Workers who trust their employers may be more committed to doing their jobs. They may be more willing to share ideas, be innovative and take risks.

• Reduced turnover—Workplaces with a high level of trust tend to benefit from lower turnover rates and absenteeism. Employees who have trust in their organization typically feel more secure and valued, leading to loyalty to their employers.

• Improved collaboration and communication—Trust can help encourage open communication, collaboration and teamwork, leading to better problem-solving and accomplishing goals.

• Boosted productivity—Trust within an organization can reduce unnecessary approvals and steps while creating a high-speed environment that can result in more efficient and effective operations.

• Strengthened relationships—Trust can foster a sense of safety and create stronger interdepartmental relationships where employees are not scared to share their opinions and ideas.

Learn More

At Lyceum Insurance Services, our dedicated team understands the importance of trust in employer and employee relationships. We will draw on our over 40 years of experience serving employers to help build trust in your organization. We can also help you find a benefits package that can help with this goal.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.