A new study finds that trust is critical to the bottom line. While this might not seem new and might seem pretty obvious, this study provided data backed insights that align with what most construction pros know anecdotally. With reality backed insights, construction pros can better manage and lead teams to develop high trust and top notch performance environments. Key findings of the study are:
High trust can lead to huge savings and more projects (revenue) through
o More repeat business
o Lower employee initiated turnover
o On time projects
Companies and project teams with higher levels of trust have higher employee engagement
High trust construction companies have high trust external relationships and value collaboration
Trust can always be increased
In my experience, clients are seeking trust when they select project teams via CMAR, design-build and other alternative project delivery methods. They select the team that they trust to deliver a high quality project on time. This is often achieved when they select companies who they have previously worked with and who will provide key trusted staff members on current and future projects.
I tell my kids, if you can't trust someone or someone can't trust you, a relationship is nearly impossible and anything you try to accomplish together is all but doomed for failure. The same is true in The Trailer.
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