Trust is crucial to business success but it is a fragile asset. In a climate of great uncertainty, it is more vital than ever that businesses preserve their licence to operate and do more to meet the growing expectations of society. Investors, the public, workforces and customers are calling on businesses to focus on long-term value creation that benefits a wide range of stakeholders, not just shareholders.
Trust is a key driver of reputation, which in turn is critical for business growth and sustainable performance. The many benefits of building trust include:
- increased employee engagement, leading to better retention, greater productivity and higher profits
- more loyal clients and customers, who will recommend your business to others and embrace your innovations, and
- mutually beneficial and collaborative relationships with suppliers.
Taking action to build and maintain trust is therefore vital for the long-term health of every business across the country, as well as to government, civil society and our wider communities.
Businesses are stepping up to the challenge but there is always more to do. This resource is here to help. It draws on guidance and information already in the market, alongside a wealth of impressive business activity, to help your business act responsibly and build trust with key stakeholders.