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The Problem — Critical Crisis of Trust for Business and Political LeadersTrust is the cornerstone of U.S. commerce and governance, and a Golin/Harris Trust Survey finds 69% of Americans say 'I just don't know whom to trust anymore.' Consider these sobering statistics: WHY? — During these challenging economic times, people feel that Main Street has been left behind by their leaders. People rightfully expect good faith and fair dealing in their leaders and institutions, but they see 'gotcha' gamesmanship and situation ethics as the order of the day. JOBS — Americans name unemployment/jobs and the economy as the most important problems facing the nation. Economic growth has never been so bad for so long after any recession since WW II.
Forecasters suggest it will take 20 million new jobs over the next 10 years just to repair recession damage and to keep pace with adult population growth. Figuring out how to produce jobs is stumping everyone. The current government jobs policy focuses on plugging the leaks in the employment boat rather than turning it around. Come January, the rate isn't likely to be much better. According to Kiplinger, "The unemployment rate will climb higher in the next few months." Challenger, Gray & Christmas, the outplacement agency, reports that layoffs are on the upswing. GOVERNMENT & POLITICS — The real deficit in Washington is Trust! The overall disapproval rating for Congress is at 82%, an all-time low according to the latest New York Times/CBS News Poll.
The White House issued a statement recently saying President Barack Obama thinks Washington "must do better", and Senator Tom Coburn, an Oklahoma Republican said, "For decades, political careerism has trumped statesmanship in Washington. Both parties have done what is safe, not what is right." CORPORATE INCOME TAXES & SURPLUS CASH — People are astonished that ExxonMobil, General Electric, Boeing and nine other major companies earned over $171 billion in pretax U.S. profits and paid no federal income taxes.
Companies are also holding record $837 billion +/- in cash, yet won't hire workers. Anyone wondering where all the economy's jobs are might want to look into the piggy banks of the world's biggest companies. Instead of spending on hiring people, companies are mostly stuffing their money under their corporate mattresses. General Electric, for example, ended the second quarter with $91 billion in the bank. Surplus cash in companies' coffers led one pundit to say, "How to liquidate an economy for short-term gain". WALL STREET ETHICS(?) — Fifty-eight percent of Main Street distrust Wall Street. The idea that there isn't good faith and fair dealing in the markets, and that they are rigged was confirmed recently with the conviction of Wall Street financial titan Raj Rajaratnam of the Galleon Group and 43 others. This gaggle of high rollers were snagged by wire taps for insider trading that netted tens of millions of dollars in illegal profits. Raj Rajaratnam is said to be facing a prison term of about 15 to 20 years at his sentencing in September. Tentacles of the Galleon case have even ensnared Blue Chip mega-consultant McKinsey & Co. Two of its executives allegedly passed insider information to Rajaratnam. McKinsey chief, Dominic Barton , said “I really think it will be in the 10 to 20-year time frame" before we'll know what damage the Rajaratnam scandal has done to our brand. EDUCATION — In Business Ethics Journal, Marjorie Kelly wrote about the downsizing of ethics requirements in many MBA programs . “In the wake of recent ethics scandals, one might imagine that business schools would be deepening their attention to business ethics. But at many schools, the reverse is happening.” "Why? It would appear that business schools and MBA curricula are focusing on the more quantitative stuff, and [placing] far less emphasis on business being an institution of society whose final end is to serve the common good.” The Solution — REBUILDING TRUST IN LEADERSHIP
Simply put, trust means confidence — confidence that leaders' walk the talk. Here are the five things that people want from CEOs and Leaders:
Savvy leaders know they can depend on John Brady & Associates to recapture initiative, regain momentum and drive success. Call today to discover how we can provide you with:
Proven Leadership • Powerful Results Call — Learn — Lead — Succeed!
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