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The current economic crisis is a crisis of confidence: the rating agencies do not trust the states, investors are wary of markets, the Europeans are questioning their currency. Trust is a central economic factor. It is also a fundamental and essential to proper functioning and relationships in the business.
Economic crisis, crisis of confidence
Tension, stress, conflicts have been more important in business, all industries, and all sizes. Nobody takes the time to talk, but why and how did we get here?
Obviously, one of the main reasons is the economic crisis and financial crisis that we are now and it is just so violent that it impacted in all businesses and all employees therefore pressure, rhythm, increased workload.
The consequences are terrible
Fear, lack of motivation, anxiety … This crisis started in 2008 and has clearly changed everything and moved many lines. But It also created other forms of crises: a crisis of confidence, a crisis of faith, social crisis, nervous breakdown …
It seems that nobody trusts each other anymore in this difficult times, the true value of companies, one we pretended to rediscover, or at least on which we communicate, it is humans. I am convinced that it’s more confidence that the human is the most important asset. On this subject, the trust companies’ efforts must wear if they want through these turbulent times without too much damage and have sufficient reactivity on the day of recovery. Perhaps also it is better to talk about trusts:
Confidence in the company’s vision
It happens when the representatives of the company offer a real business plan, to make the right decisions, to have the ability to respond to the vagaries of the present without compromising the future of the company, to reconcile economic ambitions and social concerns.
Trust in local managers
Why ? , because they have the energy that unites, they will give meaning to actions, explain decisions and at the same time will be honest and transparency in communication, because they will make grow your staff.
Confidence in Human Resources
They will enforce the social contract so that the latter is not a buffer against economic fluctuations, Human Resources main priority will be to reconcile individual aspirations with the demands of the community.
When the corporate culture promotes the enhancement of successes, make people want to take risks, to get out of his comfort zones and to exploit new opportunities faster than competitors.
In the company even more than in economic theory, trust is the central issue. This is the fuel needed to engage all company employees.
What are the benefits of trust?
1.Reduced costs of negotiations and conflict reduction.
3.More sharing of information.
5.More organizational commitment.
6.Sustainable and growing action and relationships.
Employers/graduates : Do not trust
These statistics were taken from a university in the USA.
58% of graduates for over three years share the view that “we must be wary of employers”, 42% believe that “you can trust employers “, in which 55% were working and 45 % looking for a job.
This rate of “distrust” is higher in women than in men, among older (over 24 years) than among younger, graduates of colleges than in universities, and youth workers in services (excluding trade) than those employed in industry and commerce.
Customers are more important
Similarly, the question “about who companies give the most attention”, only 4% answered “their employees”, against 82% “customers”.
Company and personal growth
84% of these graduates believe that the company is “a place for personal growth”: 86% according to those who are in office, 82% of those who are seeking employment. A view shared more often by women rather than men.
Looking for work
79% say they rely on themselves to find employment, 77% will find a job in their personal network, against only 54% of recruiting firms and investment companies, 46% in associations, 38% in the institutions.
Do not trust anymore
In the USA only one in three Americans trusts their government, the corporate world, and traditional institutions.
In Canada, according to a 2011 Ipsos poll, only 9% of respondents trust the political leaders, and only 19% of business leaders … this is even less than lawyers (22%).
Optimism and confidence go together in business
Among the six common values to successful entrepreneurs is self-confidence. The other five are:
3.tolerance for ambiguity
I think There is one more that I’ll include in this list and it is called optimism.
Daniel Kahneman won a Nobel Prize in economics, but he initially worked as a doctor of psychology. By combining economics and psychology, he found out a new discipline for an economy : “behavioral economics”. Kahneman showed that business decisions, economic, business acquisitions as well as product launches are often made quickly, intuitively, rigorously analyzed and streamlined BUT AFTER COUP.
He writes in his latest essay Thinking, Fast and Slow: “We are prone to overestimate how much the world We Understand and to underestimate the role of luck in the events” and this is a perfect definition of optimism.
We are all looking at a greater or lesser degree, to gain more confidence in ourselves. Business coaching is certainly one way to gain more confidence in the management field.
At the end of the first three months of coaching, I usually ask my clients to give me feedback. Something that is very common among the comments is the increase of self-confidence.
The client must continue to be successful, find innovative solutions to overcome their problems, learn from mistakes, do not be afraid to try new ways of doing things.
Optimism and confidence are two key ingredients for business!
Mark a pause to analyze your problems, revealing your fears, share your concerns, it will help you to know what the problem. Free speech is vital.
Today is a priority, do not forget, do not waste time, get directly to the point!