Trust sits at the heart of the employee-employer relationship. When trust is strong, businesses thrive. When it’s lacking, productivity, creativity, energy, and innovation plummet, loyalty and retention are negatively impacted, and organizations lose their competitive edge.
Trust took on heightened importance during the COVID-19 pandemic, as employees relied on their employers to keep them safe and to maintain operations, so they could continue earning a living even while the world was plunged into the greatest public health crisis in more than a century.
Now, as they chart the path to a “new normal,” employers are under pressure to foster a sense of belonging, an important component of trust, especially as they navigate work-from-home and hybrid office environments . Yet trust remains low, and organizations are struggling to attract and retain the talent they need.
When done right, benefits increase trust, deepen the employee-employer relationship, and drive well-being, all major goals for today’s organizations. Yet benefits alone are not enough for today’s diverse workforce. Employers must see employees for who they are, recognize their individual needs, and meet them in the moment with personalized benefits management powered by AI.
With record numbers of employees leaving their jobs – and just over half (53%) likely to be with their current employer in 12 months – trust has never been more important. Yet building trust isn’t as simple as flipping a switch or issuing a mandate. It takes time and careful attention to every aspect of the employee experience. In this Era of the Employee, companies can’t afford to wait. Now is the time to begin working toward a culture of trust. A good place to start is by looking at their benefits program in a whole new light.
The importance of trust
At the cornerstone of every successful relationship lies a deep and abiding trust. From friends and romantic partners to clergy, teachers, neighbors, and elected officials, a relationship is stronger, more resilient, and more fruitful when both parties know they have each other’s backs. Trust is also a crucial component in the workplace – between employees and customers; colleagues and co-workers; and most importantly between employee and employer.
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