Does your team trust each other?

shutterstock_1076140025The sharing of information, expertise and experience within a team is an essential ingredient of performance. Yet, it doesn’t happen just because people sit in the same room, or in the same building. This is because sharing involves risks – social risks (holding unpopular beliefs), status risks (saying something foolish), career risks (disagreeing with the boss), etc. Few will take these risks unless there is trust. Continue reading

Is trust just a taxi ride away?

Taxis in Hong Kong

“Henry, the investor, wasn’t keen on accepting a stockbroker’s invitation to share a taxi – a sales pitch for a whole mile, he thought. He was wrong. The stockbroker neither mentioned his firm nor any stock. He merely unknotted his tie and stuffed it in his jacket pocket. “It’s not my favourite,” he said, “but my son chose it for my birthday, so, I have to wear it.” He continued: “My boy’s ten. That’s about the age when sons suddenly realise their fathers are not superhuman after all. Mine thinks I’m a loser.” One mile later, Henry had decided that he quite liked this stockbroker.” – The Trust Mandate: The behavioural science behind how asset managers REALLY win and keep clients. Brodie & Harnack, 2018)

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Going Up? Governance in Crony Companies

Up Buttons

One much-discussed indication of a firm’s good governance is hiring and promotions free of nepotism[i], cronyism or any other form of favouritism. Yet, despite the growing importance stakeholders attach to the ‘G’ in ‘ESG’, many organisations, both public and private, struggle to change their ways. Evidence remains of advancement based on family, nationality, language, politics, religion, alma mater and, of course, gender and ethnicity.

The consequences of unfair patronage for the subsequent performance of the patron and their protégés are varied, and (annoyingly) not always negative. However, the impact on everyone else in the organisation, is unambiguously bad.

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