Money Rehab with Nicole Lapin

Episode: Trust Issues at Work? Here's What to Say with Rachel Botsman
Release Date: February 5, 2025

Introduction

In this episode of Money Rehab with Nicole Lapin, host Minda Hartz takes the reins while Nicole is on maternity leave. The focus is on trust in the workplace, featuring insights from Rachel Botsman, a renowned trust expert and author. Together, they explore the nuances of building and maintaining trust within teams, especially in today's evolving work environments.

Understanding Trust in the Workplace

Minda begins by introducing the theme of trust, drawing from Rachel Botsman's extensive work on the subject. Rachel emphasizes the fragility of trust, likening it to "air or oxygen" that often goes unnoticed until it's depleted. At [03:37], Rachel shares a pivotal insight:

“Trust is a confident relationship with the unknown... You don't need to know what they're up to. It’s that visibility, that needing to know... these are signs that you don't trust someone." [03:37]

She highlights that trust is a universal feeling, transcending cultural boundaries, even though the ways to earn it can vary across different cultures.

How Leaders Can Foster Trust

A significant portion of the discussion revolves around the role of leaders in cultivating trust. Rachel outlines the importance of context in trust-building, stating at [04:49]:

“What kind of team? Is it a small team or a large team? Is it a team that works remotely or is it a team that comes together? It’s not like there are general rules on how you earn trust as a leader.” [04:49]

Key strategies include:

• Expectation Setting: Clearly defining what is expected from team members in terms of work quality, deadlines, and approach.
• Empathy and Vulnerability: Leaders should model vulnerability by expressing uncertainties and admitting when they don't know something, fostering an environment where team members feel safe to do the same.

Rachel distinguishes between safety and security, explaining that while leaders can create a safe environment for taking risks and making mistakes, an individual’s sense of security often stems from personal experiences outside the workplace. This distinction is crucial for leaders to understand, as highlighted at [07:21]:

“Psychological safety... is creating the environment where people feel safe to take risks, make mistakes, and admit they don't know something without fear of negative consequence.” [07:21]

Common Misconceptions About Trust

The conversation delves into common misunderstandings surrounding trust, particularly the idea that increased transparency automatically leads to greater trust. At [10:50], Rachel clarifies:

“Transparency... often has a backfire effect because trust is about a confident relationship with the unknown. You don’t need to make everything transparent.” [10:50]

She argues that trust is built not by exposing every detail but by allowing autonomy and demonstrating confidence in team members' abilities.

Trust in the Hybrid Work Model

With the shift to remote and hybrid work arrangements, Rachel discusses how changes in communication channels have impacted trust. At [20:20], she observes:

“Non-verbal signals... went away. This had huge implications for trust because these are all signals we're using to decide whether we trust someone or not.” [20:20]

She underscores the importance of adapting communication styles to maintain trust in a virtual environment, noting that tools alone are insufficient without corresponding behavioral changes.

Practical Tips for Building Trust

Towards the end of the episode, Rachel shares actionable strategies for listeners to enhance trust within their workplaces:

1. Empathy:

   • Defined not just as putting yourself in someone else's shoes but as genuine curiosity about their perspectives, followed by actions that show you care. Rachel emphasizes at [32:47]:

     “Empathy is more like curiosity... followed with care to make the person feel supported.” [32:47]

2. Intentional Communication:

   • Clearly articulating the intentions behind meetings and decisions to prevent misunderstandings and build confidence in leadership.

3. Modeling Vulnerability:

   • Leaders should demonstrate vulnerability by admitting mistakes and uncertainties, creating a safe space for team members to do the same.

Trust Tipping Points Game

Minda and Rachel engage in an interactive segment called "Trust Tipping Points," where they discuss scenarios that can either strengthen or weaken trust within a team:

• Scenario 1: A team member shares a vulnerable mistake.

  • Positive Response: Acknowledge the vulnerability and empathize, encouraging openness.
  • Negative Response: Dismiss the vulnerability, discouraging future honesty.

• Scenario 2: A company navigates a public crisis.

  • Positive Response: Address the issue transparently, taking responsibility and outlining steps to rectify.
  • Negative Response: Deflect blame to external factors, eroding trust further.

These scenarios illustrate how critical moments can significantly influence the trust dynamics within a workplace.

Final Insights and Conclusion

In wrapping up the episode, Rachel shares her optimism about the potential for building secure and trusting workplaces. She believes that the employer-employee relationship holds the key to meaningful trust, distinct from broader societal institutions. Rachel states at [30:42]:

“The workplace... is an environment you can somewhat control and influence and shape. If people can feel trusted and safe to take risks at work, it might just be the only part of their life where they have that experience.” [30:42]

Minda echoes this sentiment, emphasizing the importance of implementing small, intentional changes to foster a culture of trust and humanity in the workplace.

Key Takeaways:

• Trust is Essential but Fragile: It's a fundamental element that needs careful nurturing and understanding its contextual nature.

• Leaders Play a Crucial Role: Through clear expectation setting, modeling vulnerability, and maintaining intentional communication, leaders can significantly influence the trust levels within their teams.

• Adaptability in Communication: Especially in hybrid work settings, adapting communication styles to maintain non-verbal trust signals is vital.

• Empathy and Support: Demonstrating genuine curiosity and care fosters a supportive environment where trust can thrive.

• Handling Critical Moments: Responses to vulnerable moments and crises can either strengthen or weaken trust, highlighting the importance of thoughtful and empathetic leadership.

Notable Quotes:

• Rachel Botsman [03:37]: “Trust is a confident relationship with the unknown... You don't need to know what they're up to."

• Rachel Botsman [04:49]: “What kind of team? Is it a small team or a large team? ... It’s not like there are general rules on how you earn trust as a leader.”

• Rachel Botsman [10:50]: “Transparency... often has a backfire effect because trust is about a confident relationship with the unknown."

• Rachel Botsman [20:20]: “Non-verbal signals... went away. This had huge implications for trust..."

• Rachel Botsman [32:47]: “Empathy is more like curiosity... followed with care to make the person feel supported."

For more insights on managing your financial life and fostering healthy workplace relationships, subscribe to Money Rehab with Nicole Lapin and join the conversation by emailing your questions to moneyrehab@moneynewsnetwork.com.