Great article by Kimberly Bonvissuto in McKnight's Senior Living surrounding culture building and retaining top talent within your organization. During a presentation at the NCAL, Kathy Parry, CSP Energizing Teams, covered how trust is the key component to enabling that culture to cement itself within your business.
A study from the National Institutes of Health showed 'companies will see elevated trust from employees, which leads to an increase in job satisfaction, by implementing a plan of competency in five areas: transparency, communication, empathy, civility, and consistency'.
I think it's easy to see how this study applies to the franchise model. As a franchisor, your franchisees depend on you for their success; they believe in your business model, they believe in you as a partner, so it's on you to deliver. To set a proper foundation for this relationship to flourish, you have to establish trust from day one.
Communication is king, to establish trust you have to set proper expectations from franchise sales, to ongoing support, to financial performance. The clearer your message, the clearer 'the why' behind certain moves from the brand level, the more your franchisees will trust in you to ensure their success. Would love to hear some of the different ways people have worked to build trust with their franchise partners. What measures have you taken to ensure trust is a cornerstone in your system?
#franchising #partnership #trust
https://lnkd.in/e2XduCx8