Jackson Healthcare President Shane Jackson offers three tips for building trust in your business – because integrity still matters.
This article was originally published by Fast Company.
Virtually everyone I know has a story about getting scammed, swindled, or ripped off. There are plenty of people willing to break the law, or at least violate commonly held morals, to take your money. Falling victim to someone’s dishonesty makes us feel both embarrassed and angry—emotions that are amplified when we see how often people get away with it.
Swindling doesn’t just occur with individuals. It’s rampant in any industry. The competition gets the sale and runs off with the customer’s money. They violate the contract and leave someone else holding the bag.
In a world that feels increasingly complex and where competition is fierce, it’s easy to wonder: Does integrity still matter?
The answer is an unequivocal yes.
DISHONESTY IN BUSINESS HURTS ALL OF US
Competing against dishonest people can be hard. I’m thinking about competitors who make promises to customers that they can’t keep, but win the deal because the customer doesn’t know any better. Maybe they offer a price that seems too good to be true—because it is. Bad actors distort the market and make it difficult for those who do things the right way to stay in business.
A young salesperson once pleaded with me as he was trying to get me to match the terms a competitor had offered a customer. “You don’t understand. If we don’t do this, we will never make another sale. We’ll be cut out of the market.”
“You may be right, but I don’t think so,” I told him. “Look, you and I both know that this is not going to work, and the customer is eventually going to get burned. When they do, we will be here to help pick up the pieces.”
THE VALUE OF BUILDING TRUST IN BUSINESS
While it’s true that you can make money by taking advantage of other people, it’s a strategy that erodes, rather than builds, trust. Eventually, you will run out of people to fool. Once you are known to be untrustworthy, no one will want to do business with you.
Integrity isn’t just about following rules or avoiding unethical behavior. It’s about consistency—consistency between our values and our actions, between what we say and what we do. It’s the foundation of trust, and trust is the currency of business. A business can survive for a time without integrity, but it will never truly thrive. It might grow for a while, but it will never build anything lasting.
When customers have a choice, they are always going to pick someone they trust to buy from. Once you have been burned by someone who was dishonest, you are reluctant to trust anyone else and will go to great lengths to verify that the next company you do business with is trustworthy. Dishonesty is a short-term strategy that will backfire in the end.
INTEGRITY IS A LONG-TERM INVESTMENT
Integrity can be costly in the short term. It might mean walking away from opportunities to make quick money that will ultimately damage your reputation. It may mean taking the extra time and effort to do things the right way. It always means thinking about the needs of others instead of just yourself.
And this is the thing: Integrity isn’t just about the big, defining moments. It’s about the everyday choices—the way we speak about others when they’re not in the room; the honesty in how we communicate bad news; the way we make decisions when no one is watching. A business doesn’t become a company of integrity because of a mission statement. It becomes one through thousands of daily choices by its people.
Acting with integrity—as an individual or a business—is an investment in building up your reserves in the currency of trust instead of the currency of money. Investing in building your trustworthiness pays off significantly over time as customers show their trust by spending their money with you.
HOW TO RUN YOUR BUSINESS WITH INTEGRITY
Here are three ways to apply what we know about integrity in business:
Say “No” To Business Today In A Way That Allows You To Say “Yes” Later
You will never be glad that you sold a customer something that you knew you couldn’t deliver or that wasn’t in the customer’s best interest. When you walk away from a deal, take the time to educate the customer on why you are saying “no,” so they know that you understand their perspective. Follow up with a solution when what they buy from your competitor doesn’t work.
If You Can’t Trust Someone Without A Contract, Don’t Trust Them With A Contract
Here is some really bad news: If someone wants to cheat you, it doesn’t matter how strong your contract is. They are going to find a way to do it. The best-case scenario is that you are going to have a long, expensive, and very painful legal fight trying to get justice. If someone has cheated others in the past, they will most likely cheat you—regardless of how good your contract is.
There Is No Such Thing As A Toxic High Performer
The only thing worse than competing against someone who is unethical is being in business with someone who is unethical. Whether they are a partner, vendor, or (even worse) an employee, they can ruin not only your business but your reputation, too. If someone does not demonstrate integrity in the way they conduct business or in the way they treat people, it doesn’t matter how much revenue they generate, they will cost you in the long run.
Companies that hold the line on integrity and that foster a culture where people do the right thing even when it’s hard are the ones that are built to last. They’re the ones people want to work for, partner with, and invest in. And long term, they are the ones that win.
This article was originally published by Fast Company. A colleague recently shared an exercise he conducted with his predominantly Gen Z team. He listed every person and […]
