How do trust and loyalty build your company value?
Updated: Nov 28, 2022
Free lunches and happy hours are great but will they build an enduring culture?
I’m Maddie and I work as a Marketing Manager at Creative Return. I’m a young millennial navigating this world of finance and investor marketing. I hope my blogs can help others who are just getting started in their journey through the world of investor relations and digital investor marketing.
Something that has always been important to me is a bond between myself and my coworkers. I don’t mean that we need to hangout together everyday but I would like to show up to work and feel a sense of belonging. A company with a great culture is something I always looked for when applying for jobs right out of college.
From the interviews we do, one shining example of building a strong culture came from Mogens Smed, founder and CEO of Falkbuilt. Check out his interviews here and here.
Mogens provided some great insights on the topic in his latest interview. It was his second time appearing on the show and I learned a lot from him. The conversation discussed building bonds with your team and colleagues. He also talks about loyalty and trust – which are two traits I place a lot of value on.
According to Mogens, empathy, the value of relationship building, and building workplace culture are fundamental and the soul of any company.
At Falkbuilt, they have never laid off their employees even during the darkest days of the pandemic. Add to this - Falkbuilt provides furniture and design services for commercial office spaces. The exact spaces we did not visit because we were all working remote. This commitment to their team gains the trust of the employees. They are very transparent about who they are and how they operate.
“There is nothing more important than a culture in the business. If they trust you, they’ll do whatever they can to help you succeed,” Mogens said.
These beliefs tie into his leadership style. Mogens proclaimed that he is demanding, but he loves what he does.
“I happen to believe that you can be friends with the people you work with,” he shared. “For me, the most encouraging thing is when somebody comes with an idea and it can help us. That tells you that they trust us, they're not afraid to speak their opinion.”
Leadership and trust are earned. They need to be earned everyday.
“You’re not always going to be right, that's for sure. Your team will forgive you for being wrong if they trust you,” Mogens shared.
Mogens has been able to build a strong sense of loyalty among his employees. In the past, he’d been told that his loyalty clouded his business judgment. He went on to say that even if it did cloud his judgment, loyalty is everything to him – in all aspects of life, it’s the most important thing.
“Loyalty is a two way street. If someone is loyal to you, you better be loyal to them,” he said. “There’s going to be times they want to jump off that bridge and you aren’t going to like it but you have to go with them.”
Over the years, he’s had experiences where he’s been burned but he does not believe in revenge. You need to move on in a positive way and forgive those who hurt you.
Falkbuilt believes that technology is the future of work! They work on a four day on and four day off schedule. The companies that will succeed are those that foster a culture that brings people together.
“You can’t create a culture virtually. You need to have synergy in what you’re doing but it doesn’t mean you need to be together five days a week for ten hour days,” he said.
A piece of advice Mogens offered was to always take the high road.
“It’s not easy but it’s important in life. Making excuses in front of your people is not the right way to go.”
Trust and loyalty are earned. Leaders need to stay humble in order to gain the trust of their employees.
Some of the most important relationships you’ll ever have are the ones you have with the people you work with – you can be friends with them!
Don’t try to get revenge on those who have wronged you. Move forward in a positive light.
Listen to both interviews with Mogens below. You won’t be disappointed.