Recently at the Fortune Growth Summit, Stephen M.R. Covey shared his book Speed of Trust. His statement that a High Trust environment is a “dividend” and a Low Trust environment is a “tax” really got me thinking. How is trust impacting the ability of your team to execute on your top priorities?
The conventional way of thinking is Strategy + Execution = Results. Covey suggests there is a hidden variable: Trust. High Trust environments can be a multiplier, while Low Trust environments will grind execution to a halt.
From a leadership perspective, even the best strategic plans will fall short if the CEO isn’t seen as credible by their team. As Covey put it, people follow leaders, not strategy. The strategy is only as good as the credibility of the leaders.
So are you a credible leader? Test yourself with Covey’s 4 Cores of Credibility:
1. Integrity: Are you congruent?
Integrity is deep honesty that includes congruence (walk the talk), humility (stand firmly on principles) and courage (doing the right thing, even when it's hard)
Integrity Accelerators: Make and keep commitments to yourself. Stand for something. Be open.
2. Intent: What’s your agenda?
Intent is making decisions in a way that inspires the most trust and includes motive (caring), agenda (seeking mutual benefit) and behavior (acting in the best interest of everyone).
Intent Accelerators: Examine your motives. Choose abundance. Declare your intent.
3. Capabilities: Are you relevant?
Capability is your capacity to produce and accomplish TASKS (Talents, Attitudes, Skills, Knowledge and Style).
Capabilities Accelerators: Run with your strengths. Keep yourself relevant. Know where you’re going.
4. Results: What’s your track record?
People consider your credibility for producing results on three key indicators: past performance, current performance and anticipated performance.
Results Accelerators: Take responsibility for results. Expect to win. Finish strong.
In Covey's work, there is a running theme of starting with yourself first. Did you identify any personal weaknesses in the 4 Cores of Credibility? Use his suggested Accelerators to come up with your personal plan for improvement. Share this with your team and challenge them to do the same.