It is Essential to Earn Trust & Confidence of the Employees & Customers

The crisis is an opportunity for us to reinvent and rediscover ourselves. And so it is for the employees and the organizations. Though many companies worldwide were already anticipating a global economic crisis, no one was prepared for this kind of survival struggle. Many industry leaders have already mentioned that this year is not about making profits but for survival. Though the level of preparedness and resilience will determine an organization’s success path and workforce implications, it is important for the companies to keep their employees motivated when the struggle seems unparalleled for the days to come. Hence earning employees trust is paramount for the companies.

According to a report by States Qualtrics, ‘COVID-19 Brand Trust Pulse’, 69 percent of the Indian respondents believe brands need to take care of their employees and customers during crisis, and not take advantage of the crisis to maximize profits.

The research also shows how this crisis has altered the drivers of brand trust for people in India. It also revealed that during the COVID-19 outbreak, 50 percent of the respondents said their trust in the brands they regularly engaged with had increased, while the trust on the government has increased by 72 percent during this time.

When asked what behaviors increase trust during the crisis, the respondents pointed taking care of employees was the top ranked attribute (37 percent), followed by not taking advantage of maximizing profits during a crisis (36 percent) and taking care of customers (32 percent). The report also highlights that respondents found new products less impactful (10 percent), while having an established track record of responding well in times of crisis (17 percent) and statements about strong moral principles such as integrity (19 percent). “Building loyalty in a time of crisis can make or break a brand. Our study in India reveals consumers trust brands more, when brands focused on the well-being of customers, the well-being of employees, and not taking advantage of the crisis to maximize profits,” said Lisa Khatri, Brand Experience and Research Lead for Qualtrics in APJ.

Hence when the employees adjust to their new reality, it is essential for the companies to create the best learning experiences possible, help them adjust and cope, which will help earn their trust and loyalty.