A new report released by Autodesk and management consulting firm FMI Corp. found that construction organizations with very high levels of trust within their companies and project teams reported better financial and organizational performance.
For the study, “Trust Matters: The High Cost of Low Trust,” FMI and Autodesk surveyed more than 2,500 construction professionals worldwide who ranked trust at their organizations.
The findings revealed that organizations with very high levels of trust achieve better financial and organizational performance. However, 63% of survey respondents noted that their organizations had less than very high trust.
“The performance advantages at ‘very high’ trust organizations can represent mil- lions of dollars in profitability,” said Jay Bowman, research and analytics lead at FMI. “With margins in the construction industry continuing to shrink, organizations should be aware of their trust ranking and how it can be improved to increase profitability.”