When companies or politicians break trust, it takes three equally important steps to repair trust. Sandra Sucher, a professor of management practice at Harvard Business School and co-writer of the book “The Power of Trust: How Companies Build It, Lose It, Regain It”, takes us through some examples of apologies after broken trust that were ineffective, causing tremendous harm. UBER is a very competent company, yet they are losing customers due to a lack of trust, Volkswagen had its trust failure after rigging emissions test of their diesel cars, for which the CEO apologized, but did so unconvincingly, with great consequences.
But there are examples of successful trust repair. Who remembers Japanese-based platform business Recruit Holdings, who after a scandal showed how to repair broken trust, or the PWC gaffe from 2017, where employees mixed up the winner's envelope, as a result of which La La Land was announced the Oscar winner, instead of Moonlight. Both did a remarkable job in restoring trust. In the interview, she explains what it took to restore those trust failures.
She talks about a study by Kurt Dirks who found that the NCAA basketball team won the most games due to the trust they had in their coach and about the way politicians can restore broken trust, about creating a trusted work environment for women, and the four attributes of trust repair.
TrustTalk - It's all about Trust
TrustTalk podcast covers all aspects of Trust. Trust is more relevant than ever. Trust is everywhere. Trust has many faces. We will dive in all aspects of trust in the lives of people: trust in technology, social networks, trust in politicians, trust in facts, communications and journalism, the judiciary, your partner, employer or employee. Trust is not something that comes for free, most of the time it requires a lot of effort to gain and once gained, to keep it. Without Trust, nothing works.
Trust takes years to build, seconds to break and forever to repair.
Meet the Host
I am fascinated by trust. I spent most of my professional life as an attorney-partner at several international law firms. In 2010 I started a network consultancy in intellectual property, IPEG (Intellectual Property Expert Group). I am also chairman of the Netherlands foundation "Stichting PleitAcademie", a certified training institute for attorneys and law professionals. With the TrustTalk podcast and the blog (https://trusttalk.co), I am pursuing my passion for trust. Nothing works without trust. Want to know more about me? visit https://www.severindewit.com
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Give a little, Help us a lot. I am passionate about trust. To share that we deliver every two weeks a podcast. Your donation will help me to produce more podcasts about the role of trust in our life. I invite world experts to talk about trust and how it impacts all of us. Your support means a lot, as it helps to pay for the technical support to produce podcasts.
