Trust can be critical for companies in West Virginia that want to grow or strengthen their brand. However, trust in people and companies has been declining, according to a variety of sources including the Harvard Business Review Analytic Services. The Edelman Trust Barometer found that 73% of those who responded said that fake information could be used against them. There are many reasons why people aren’t placing their faith in other people or institutions, such as the blatant release of false data.
Reports about business leaders and other leaders in society being taken into custody or indicted for crimes also leads to a lack of trust. However, there are ways that companies may be able to regain the trust of their employees. One idea to is replace control with empowerment of workers to make decisions. This may help middle managers get more done without worrying about what top leaders may think.
It can also help employees take greater ownership of their work and feel like they have the power to do something worthwhile. Executives may also improve trust by interacting directly with employees and the mangers who work under them. Those managers may also want to have direct contact with the people they work with each day. Generally speaking, good communication is a key to creating trust in a relationship.
Having trust in others may make it easier to resolve a breach of contract or other business dispute. Instead of going through costly litigation, the parties involved may be able to discuss their concerns and find ways to resolve them. These discussions may occur with or without the presence of an attorney. However, if necessary, an attorney may help a company proceed with a lawsuit or use a lawsuit as leverage to negotiate a settlement.