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The essential, data-driven blueprint to build trust in your organization.
Did you know that trusted companies outperform their peers by up to 400%? That customers who trust a brand are 88% more likely to buy again? And that 79% of employees who trust their employer are more motivated to work (and less likely to leave)?
The importance of trust is at an all-time high - just as our inclination to trust is at an all-time low.
Building trust is your single greatest opportunity to create competitive advantage. With new data at its core, The Four Factors of Trust gives you practical guidance to measure and build trust in the relationships that matter the most - with your customers, workforce, and partners.
Trust ultimately comes down to just Four Factors: Humanity, Capability, Transparency, and Reliability.
These Four Factors make up Deloitte's HX TrustIDTM, a groundbreaking measurement tool poised to become the gold standard for evaluating organizational performance. Ashley Reichheld and Amelia Dunlop show how your organization can use HX TrustIDTM to measure, predict, and build trust to earn lifelong loyalty - and elevate the human experience with your customers, workforce, and partners. The Four Factors of Trust lays it all out in do-able parts so you can:
- Create better business outcomes by understanding how trust affects human behaviors
- Measure your company's trust score - revealing strengths, deficits, and opportunities to (re)build trust with key stakeholders
- Design actionable strategies to improve trust with your customers, workforce, and partners
- Build trust and earn loyalty through every business function from marketing to operations to talent experience
With compelling stories from leading organizations - and practical applications in Marketing & Experience, Cybersecurity, HR, Sustainability (ESG), and Operations & Technology - The Four Factors of Trust will enable you to create the relationships you want to build, the organizations you want to belong to, and the world you want to live in.
Table of Contents
Introduction 1
Part I: What You Need to Know About Trust
1 The Four Factors That Drive Trust 15
2 Wrestling with Trust 31
3 The Path to Loyalty 41
4 The Most Trusted Organizations 51
5 The Least Trusted Organizations 61
6 The Demographics of Trust 71
7 The Trust Ecosystem 85
8 This Is Just the Beginning 97
Part II: The "How-to" of Trust
9 How to Build Trust 115
10 Executive Leadership 131
11 Sustainability and Equity 143
12 Marketing and Experience 159
13 Talent and Human Capital 175
14 Operations and Technology 189
15 Cybersecurity 199
Appendix
Appendix A: HX TrustID Survey Methodology 223
Appendix B: The Demographics That Matter Most for Customers 229
Appendix C: The Demographics That Matter Most for Workers 235
Endnotes 243
Acknowledgments 273
About the Authors 275
Index 277
