Our Secret Trust Builders

Richard Nolan

Operations Director

The Financial Services Forum

In the battle to rebuild customer confidence and trust, Alyson Pearson discovers a lot of financial services organisations are forgetting the most important hearts and minds they need to win.
The tumult in financial services has left just one issue on everyone’s agenda: howto rebuild trust. Formost organisations, that’s meant restoring damaged brands by focusing unwaveringly on rebuilding consumer confidence. That makes sense. But the risk is that the power and potential of employees simply gets overlooked.
And this can have serious implications for a company’s growth aspirations. Recent research by the Edelman Trust shows that employees are trusted by customers more than any other source of
information – from press to advertising. They are the secret weapon in the battle to regain trust. It makes complete business sense to harness their authority. Indeed, as Steve Owen, Channel Delivery and
Management Director at NS&I, agrees: “Our front line staff are the most important ambassadors for our brand.With an average of more than 20 years service, they play a crucial role in building and
maintaining trust with our customers. This is reflected in NS&I achieving consistently high customer satisfaction scores,which were maintained during the exceptionally busy period of last year caused
by the flight to safety.”
But it’s been a hard time for employees in recent months. Uncertainty looms large. It’s no longer a case of ‘what’s my bonus for next year?’. Now it’s ‘do I still have a job?’. That makes motivation
tough, but the truth is that loyalty is built around so much more than financial rewards. Engaging employees is not so much about money; it’s all about communication.
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