Building Trust and Confidence in the Workplace Amid Unpredictability
Source: Gallagher (21.02.2025)
Building trust and confidence stems from ethical business practices, investment in employee wellbeing and effective communication.
Earned over time, trust is essential across all levels of an organization, helping to align the goals and values that ultimately drive engagement, long-term sustainability and business growth.
When building trust is part of an organization's culture, employers have a significant competitive advantage.
The Importance of Trust in a Connected World
In today's connected world, communication within and outside organizations seems limitless. This connectivity has big implications for employers and corporate culture. The volume and speed of detailed company information sharing are almost unlimited.
The pace of our world adds an undercurrent of uncertainty and the need for agility. Where "long term" used to be five years or more, it's now less than a year.
The result is an increase in the engagement requirements for establishing and building organizational trust, including the need for ethical business practices, investment in employee wellbeing, and effective communication.
Cultivating a High-Trust Culture for Organizational Success
Organizations with a high-trust culture can attract top talent, solidifying their strong reputation in the market. A culture of trust provides a competitive edge and enhances the company's brand image.
High-performing organizations prioritize trust-building within their workforce and have high ethical standards that also extend to external partners. Trust and confidence in senior leadership contribute to a positive organizational culture, creating a foundation of respect, fairness, and integrity that drives engagement and retention.
Employees are more likely to support and adapt to changes if they believe their leaders are competent, transparent, and acting in their best interest.
Building Trust Takes Time and Investment
Establishing confidence and building trust takes time. It requires a deliberate investment of energy and resources across all levels of the organization to look holistically at the business and the people who power it.
Supporting financial wellbeing underscores and amplifies organizational trust and confidence, and recognition of this fact is growing — not only between employees and employers but external partners as well.
Strengthening Employee Engagement
Providing benefits that support the whole person demonstrates that employers are looking out for their employees' best interests and fosters a sense of stability for the future. Financial health is a critical component of employee wellbeing, and investments in this area often have ripple effects on emotional, physical and career wellbeing as well as engagement and job satisfaction.
In particular, emotional wellbeing linked to finances has been a top priority for employers over the last several years. When employees feel financially secure, they experience less stress and anxiety. Offering and promoting financial wellbeing resources, such as budgeting tools, loan repayment or retirement planning, is a tactical way to improve emotional wellbeing.
Financial wellbeing benefits can positively affect physical health too. Elevated blood pressure, poor-quality sleep and migraines can be side effects of financial stress. And organizations reap the rewards of employee financial health through a productive, present and engaged workforce.
“Today, employers increasingly expect their partners to work directly with employees, especially when it comes to education related to benefits or financial topics. While the advantages of better financial wellbeing could be the catalyst, it may also be a result of employees paying for a higher portion the cost associated with various employer-sponsored programs. Either way, organizations require highly trusted advisors,” said Jeff Leonard , global managing director, Financial and Retirement Services, Gallagher.
Communicating Vision and Values to Enhance Trust
Engagement remains a cornerstone of employee satisfaction, productivity and retention. Understanding employee preferences, aligning resources and evolving support over time are key components for building trust and confidence.
Skills such as empathy and the ability to listen are essential attributes for leaders and managers in high-trust organizations.
“The trust gap will naturally widen unless employers tackle the increased level of available information with more effective communication starting at the top. Employer decision-makers should ask themselves, ‘What is our purpose, strategy and ambition?’ Every follow-on step and action can be tied back to that top-level messaging,” noted David Piltz , UK CEO, Benefits and HR Consulting, Gallagher.
Effective communication of the organization's vision, mission and values helps employees understand how their work contributes to its overall goals. This understanding of the alignment of work and goals can foster a sense of purpose.
A confident and financially sound business is an attractive place to work and collaborate, ultimately building trust and confidence in the organization's future.
