Trust - The new ROI
The rapid advancement of technology has accelerated the necessity for companies to develop global Sourcing and Recruitment capabilities in order to access sustainable talent streams that will keep them competitive. But locating talent is only half the battle. There are a number of complex economic, cultural, and social forces that you need to consider and adapt into your Sourcing strategy in order to ensure your success. Adam will share several of his experiences that showcase both the need to be aware of and sensitive to many of the complexities as well as offer some practical perspective and advice to help you avoiding paying what he calls the “dumb tax.” He will also highlight the reality that, regardless of global location, the notion of “trust” underpins our ability to make inroads to and connections with our target candidates.
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Trust - The new ROI
- 3. Trust
- 4. Three Categories of Trust Government (national & economic) Organizational (brand) Individual (relationship)
- 6. Fukuyama’s Theory: On a macro level societies can be divided into two categories: low trust and high trust:
- 9. Trust, Business, & Globalization Globalization depends upon well regulated markets--the rule of law High Levels of Weak Property Corruption Rights, Unenforceable Unfair Legal Contracts System These factors make businesses less willing to invest in a country--and works against globalization
- 10. Global Corruption Source: Transparency International
- 12. The Inequality Trap The stability of trust, corruption, and inequality--and the strong interconnections among them suggests that it will not be easy to build up trust or to end corruption To build trust, we need to focus on two key issues:
- 13. Inequality Globally Source: UN Human Development Report
- 14. The Rise and Fall of a Computer Empire 1980s - Wang annual sales 1990 - Dr. Wang dies reached $3 billion with and his son Fred 33,000 employees takes over as CEO 1951 - Dr An Wang founded 1992 - Wang files for bankruptcy
- 15. “Trusters” Innovate More trusting countries are considerably more likely to be innovative
- 18. Brand Trust & Reputation Companies spend substantial amounts of money to get your attention and gain your trust
- 19. Social Media In the world of social media = Trust
- 20. Corporations Don’t Always Get It Right The Coca-Cola name in China was first read as “Kekoukela“, meaning “Bite the wax tadpole” or “female horse stuffed with wax”, depending on the dialect Pepsi’s “Come Alive With the Pepsi” translated into “Pepsi Brings Your Ancestors Back From the Grave” in Chinese
- 21. Sometimes things go terribly wrong
- 23. The Circle of Trust
- 25. What’s Really Happening When We Communicate?
- 26. EVP Around the World Top 3 Attributes
- 27. To Build Trust Deliver results “Do what you say” Act Selflessly Exceed Act Consistently Expectations
- 28. The Dumb Tax
- 29. Parting Thoughts Don’t Rush In Do Your Homework Embrace and Celebrate the Differences Adapt
- 30. THANK YOU!
- 31. APPENDIX
- 33. Wanted Analytics www.wantedanalytics.com
- 34. Culture Wizard http://rw-3.com
- 35. The Speed of Trust
Editor's Notes
- PhD – Political Science from Harvard. Chicago born Japanese-American.
- Corruption rests upon a foundation of low generalized trust and high in-group trust, as Gambetta noted about the Italian Mafia. The higher the level of trust, the lower the level of corruption (higher scores on the corruption index indicate more honest governments ): This would make sense because: We want to limit the operational complexity of starting a business Countries might include: China and Brazil However This might rule out precisely some of the areas that our clients need to be in and in which we could create competitive advantage Perhaps we should consider our ability to start up in these locations as an expertise in its own right (S3)
- Together with science comes innovation. The World Economic Forum rated countries according to their levels of scientific innovation