There is a strong connection between trust and prosperity. In fact, when trust levels are high, businesses tend to succeed and grow more quickly. According to McKinsey and Company, Harvard Business Review, Forrester Research and many other reputable organizations, trust is the connecting fabric upon which innovation and business success are built. In short, trust impacts an organization’s bottom line.
Trust-building is especially crucial for small to medium-sized businesses (SMBs) in order to achieve business objectives and keep employees and customers satisfied. While you might not expect a technology company like ours to discuss trust, we care about your business objectives and believe it is essential for your people, processes and technology.
Building trust is essential for any organization, whether it's a startup or a Fortune 500 company. It gives employees the confidence to take chances and innovate, gives customers the confidence to buy from and collaborate with you, and gives partners the confidence to do business with you. But how do you create a foundation for trust?
Leverage processes and technology
Building trust is not easy and one careless mistake can destroy relationships you’ve worked hard to establish. Creating trust takes time and effort. Luckily, there are a few things companies can do to succeed.
Technology integration is one of the most important considerations for businesses today. Not only do neatly integrated technologies save time and serve as a reliable foundation, they can also reduce friction within your company. Inefficient or incompatible technologies can create chaos and confusion, slowing down workflows and damaging productivity.
If you take the time to select and integrate the right technologies, it can make all the difference in terms of organizational efficiency and success.
Deploy thoughtful processes
Thoughtful processes that consider the user experience can reduce confusion and opportunities for conflict and make it easier for employees to work for you. Friction arises when an individual’s expectations do not match the actual experience. When this occurs, it can lead to conflict as people attempt to shift responsibility or blame. Thoughtful processes can help ensure that everyone’s expectations are met, minimizing the chances of a conflict.
When it comes to organizational data breaches, customers and employees are quick to lose trust in companies that can’t protect their sensitive data. In 2021, Volkswagen Group of America was the victim of a data breach that exposed the personal information – including names, email addresses and phone numbers – of 3.3 million customers. Even though it was revealed that the source of the breach was an associate vendor, VW Group of America suffered a serious blow in terms of customer trust and now faces a class-action lawsuit.
SMBs are just as likely to fall victim to cybercriminals as large enterprises, but most lack the resources to withstand the fallout. Implementing measures to secure your customer and employee data is one way to help rebuild trust. In doing so, you are not only protecting your customers and employees, but also your bottom line.
Choose the right partner
Since trust-building can be so challenging for SMBs to handle alone, collaborating with a managed service provider (MSP) like us is the best option. MSPs can help with tasks such as disaster recovery, compliance, security and much more. Working with an MSP such as us will allow you to concentrate on your core competencies, safe in the knowledge that your customers' data is secure.
Feel free to reach out for a no-obligation consultation. Contact us at https://www.mis-solutions.com/contact-us/
To dig deeper into the topic, download our infographic titled “Why Businesses Should Make Trust-Building a Priority” by clicking here.