62% of people are reportedly less trusting of businesses now than a year ago, according to a recent Edelman survey across 20 countries. It is hardly surprising as every day seems to bring new reports of layoffs, and what was once certain no longer feels like a guarantee.
John G. Agno uses the example of Southwest Airlines, to put across his point that trust and a good reputation in the marketplace is most aided by a "strong, stable strategy." He uses this example because Southwest Airlines uses the same business strategy for nearly four decades, and one that has managed to largely avoid the blows dealt to other airlines in recent years.
Example of Southwest Airlines was again cited by Mary Jo Asmus at Intentional Leadership. According to her another way to build trust in the market place is in the concepts of servant leadership and sharing of power.
None of these strategies work when the organization is facing mass layoffs and fighting for its very survival. Believe it or not, even this ordeal can be a careful trust-building exercise. After all, the fact that the organization is going through this trial matters less than how the organization goes through it.
To sum it all the , the way an organization handles layoffs will directly affect its reputation in the industry and possibly even the entire marketplace when good times resurface. Invest the time and resources into taking care of the people who have brought so much to the table for so many years.
Always remember how well your laid-off employees fare is a strong indicator of how much trust will be placed in your organization in the future. You don't have to spend a fortune to hold their hand and help them cross the bridge to their next opportunity with real-time, hands-on, individualized attention.
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