relationships have become more important.
by steven e. sacks
it is important for the next generation to believe in the concept of trust. to trust and be trusted, leaders must
- self-assess and be sure they can trust themselves,
- announce to the firm what the goals and their intentions are,
- practice what is being preached and
- create a culture where trust leads to inspiration and enthusiasm.
more: new opportunities for a ‘new normal’ | there is no leadership without integrity | real influence vs. immediate gratification | is trust elusive? | influence, don’t manipulate | working remotely shouldn’t mean feeling isolated | managing difficult personalities in the workplace
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cpa firms that look to the next generation of leaders have created their own templates: a composite profile of the traits that are necessary to thrive as a partner. what is/was considered leadership potential differs in firms. and because priorities differ, some emphasize authenticity, some a high eq, some rainmaking abilities and some strategic thinking.
how a leader is selected depends on what a firm believes is the most pressing matter, such as stiffer competition or the need to enter and thrive in new markets. but the key ingredient is trust.
maybe this is because of the approach businesses are taking to redefine the components comprising leadership, while placing less importance on the hierarchical structure of business. the age-old vertical structure virtually screamed, “i am the top dog and here is my inner circle.” think of the leaders of yesteryear: lou gerstner of ibm, jack welch of ge and maurice greenberg of aig (though the latter, while clearly the leader, did not exercise the trust factor).
“the best way to find out if you can trust somebody is to trust them.” – ernest hemingway
with the trend toward decentralized management or a more horizontal structure, there is less of a wall or boundary between the firm’s managing partner, his/her employees, vendors and other related third parties. this reduction of perceived power means that titles become less important. what has gained more traction is the ability to forge relationships by aligning oneself with whom you will be cooperating on reaching predefined goals.
lubrication works
as warren bennis had said: “trust is the lubrication that makes it possible for organizations to work.” if a firm’s managing partner can influence others to trust him or her, they will have an easier time with collaboration. and if these individuals follow a clearly articulated set of values and principles, any deviation from the norm will be called out and rejected. this can occur at any staff level.
when developing leaders, trust must be the core principle. the person who trusts will certainly be risking exposure; the person seeking to be trusted needs to take all the steps to ensure trustworthiness.
keep in mind that trust can only be cultivated and grown if it is a two-way street. if not, the result will be a breakdown of relationships between individuals and businesses. because of the transition of business to the next generation(s), the textbook teachings of trust should also include the elements of values, patience and tolerance.
how does one trust without being sure? if you need to confirm, this can destroy a relationship. (however, there are – and need to be – exceptions: reagan and the russians in the 1980s.) it all comes down to minimizing risk while maintaining the relationship.
will the next generation come up with a winning formula based on what we see happening in business today, whether in silicon valley, wall street or millions of other workplaces?
no matter the size of your firm, building and maintaining trust will not be something achieved overnight. it is, however, well worth the effort.