Stakeholders and Trust

Ever find yourself complaining about people in other departments or on other teams? You have to rely on them to get things done but they’re always challenging you?

Or maybe it’s management. Yeah, they’re the problem. They’re so pushy, won’t listen to logic, and too often micro-manage.

If you run a company or are in sales, maybe you slip into whining about customers that are a pain to deal with.

In project management terms, those people are stakeholders, defined as individuals and organizations who are actively involved in what we’re doing or whose interests may be effected as a result.

When I hear an executive coaching client or teams complaining about stakeholders, I typically reframe the conversation to a discussion about trust.

Trust.

We know it’s important. We know it’s difficult to develop and easy to betray. Yet I find too many aspiring leaders who are not actively, intentionally working to develop it.

If you have the time, I strongly recommend you read the Edelman 2006 Annual Trust Barometer. It’s bursting with analysis on trust, slicing data on the topic in ways I found incredibly engaging.

Here’s one snapshot that is relevant to those who are actively managing stakeholders. It’s a quote from Dr. Jennifer Scott, president of StrategyOne, the research company that conducts the Trust Barometer studies:

“When there’s trust, stakeholders cooperate more eagerly. They challenge
less. They tend not to ask for verification or look for other partners. With
trust, things get done. Without trust, things cost more, take more time,and
exert more strain on an organization. Stakeholders will double-check every word you say before cooperating with you. They’ll make almost any task more ponderous and exhausting.”

Are you actively, intentionally working to develop trust with your stakeholders? Don’t answer flippantly. What more should you do?

Instead of being annoyed by your stakeholders, look at it as a sign that you need to improve trust. Trust me. 🙂