Trust is not a commodity that can be bought or sold. It is something way beyond that. Trust is fundamental to businesses – they are built upon it. Your employees must trust you and you must trust them. Your customers must also trust you, and furthermore, you must show them why.
Trust is a value that humans need to survive and ignore it within a business context at your own peril. Imagine that you went to the supermarket to buy some milk and the fridge was locked. You had to wait for a member of staff to unlock the fridge, take out your milk – that’ll be green please – and then wander slowly over to the counter to finish the transaction. But the awkwardness doesn’t stop there. The cashier-come-security-guard then proceeds to cling to the milk until your money is in her hand. Unfortunately, you have trust issues too. You cannot possibly relinquish your cash without having the milk in your hands. After all, what if the cashier tries to shaft you?
You get my point. What a world this would be without trust. Trust makes the world go round! Without it, we wouldn’t even be able to step foot on the tube every morning.
In business, contracts are all but worthless without people placing value in them. Not even a 2,000-page and water tight contract will stop someone who has no ethical backbone. There is always a loophole to exploit.
We humans do not feel tied down by ink and paper. Rather, we feel tied down by social conduct and the bonds of conformity. Technology is the guardian of our personal data and it must play by the rules that humans have defined. As ever, it is evolving rapidly and so companies must be proactive in building trust with their customers by protecting their personal data.