It’s impossible to completely avoid paying the trust tax. Because all the emotions and thoughts related to trust are a natural part of being human. When you buy a product or service, consider information you’ve received, or engage in any type of interaction with a brand, you spend some of the trust you’ve accumulated. So, while there’s no way to reset trust, it’s possible to reduce the cost.
Building conscious trust and avoiding blindly trusting something can be the first step in reducing this cost. Something may make you feel good, but you should also observe the behavior and consistency of the person who gave you trust, and incorporate your past experiences into the mix. Actions, rather than words, are the true indicator of trust.
Developing the habit of making decisions based on data, not emotional values, can reduce the trust tax. Examining reviews before buying a product, reading a company’s transparency policies, and evaluating someone’s past performance before doing business are all part of building trust. I’m not saying emotions are unimportant and you need to purge them, but emotions shouldn’t be the sole deciding factor.
Contrary to popular belief, prioritizing long-term relationships over focusing on short-term gains can be more effective in establishing trust on a more solid foundation. Gains that seem effective in the short term are likely to lead to long-term disappointment. Long-term consistency and loyalty form the foundation of true trust.
Demanding accountability has become one of the most important criteria for building trust. Demanding transparency, following up on promises, and checking whether mistakes are acknowledged are key elements of accountability. If accountability is lacking, trust is continually eroded.
Just like in economics, trust must have a balance sheet: how much does it gain, what does it cost, who truly deserves trust? Asking such questions can help reduce the trust tax we pay economically, socially, and emotionally.
For further read…
- If trust is so important, why aren’t we measuring it?
- Where do remote workers pay taxes?
- Author Talks: Sandra J. Sucher on the power of trust
- The trust tax: Decreasing the hidden cost across the entire employee lifecycle
- Perceptions of trust and power are associated with tax compliance
Main photo: Marija Zaric, Unsplash
