Trust Through Transparency
Build trust by communicating candidly when uncertainty is highest
- Difficulty
- Moderate
- Time to result
- ~ongoing to results
- Steps
- 5
- Confidence
- 96%
Trust Through Transparency is a crisis-communication method that replaces silence and reassurance theater with operational visibility. Leaders first acknowledge the disruption, then explain what is working, what is not, what exposures exist, what actions are underway, and how their current interpretation may change. They create frequent communication channels and actively solicit feedback rather than treating communication as a one-way performance. The mechanism is straightforward: concrete information reduces uncertainty, visible candor demonstrates alignment, and continued dialogue lets stakeholders judge the organization by its conduct under pressure. Because trust depends on repeated behavior, the method must continue throughout the stressful period rather than ending after one announcement.
Origin
Christine Hurtsellers described how Voya Investment Management maintained client relationships during frozen markets by holding webinars, disclosing portfolio conditions, explaining its views, and listening to feedback. Extracted from Masters in Business.
Core principles
- 01Trust is demonstrated through behavior under stress
- 02Clients deserve visibility because their interests are at stake
- 03Candor about problems strengthens relationships
- 04Communication should include listening as well as broadcasting
How to run it
- 1
Acknowledge the uncertainty
Describe the disruption plainly instead of pretending that conditions are normal or completely understood.
Pro tip Separate confirmed facts from assumptions and unresolved questions.
Watch out False certainty can damage credibility when events change.
- 2
Expose the operating reality
Explain what is working, what is not, what stakeholders are exposed to, and what the team is doing about it.
Pro tip Use concrete portfolio, service, or operational details appropriate to the audience.
Watch out Do not confuse transparency with disclosing confidential or regulated information.
- 3
Share the current view
State how the organization interprets events and which decisions follow from that interpretation.
Pro tip Explain the reasoning and conditions that would cause the view to change.
Watch out Avoid presenting a provisional judgment as an immutable forecast.
- 4
Create repeated dialogue
Use webinars, calls, written updates, or similar channels to communicate frequently and invite questions.
Pro tip Choose a predictable cadence so stakeholders know when the next update will arrive.
Watch out One announcement is insufficient during a prolonged crisis.
- 5
Listen and adapt
Collect feedback, identify unmet information needs, and improve subsequent decisions and communications.
Pro tip Track recurring questions as evidence of where clarity is still missing.
Watch out Soliciting feedback without responding to it will weaken trust.
In the wild
When markets disconnected in spring 2020, Voya held numerous webinars for clients. The team discussed portfolio contents, what was and was not working, its actions, and its market views, then listened to client feedback about the usefulness of that visibility.
→ Clients experienced Voya as an engaged, transparent partner during severe uncertainty.
A software provider facing a major outage publishes confirmed facts, affected functions, mitigation work, unresolved risks, and scheduled updates. Customer questions are grouped and answered in each update rather than hidden behind generic assurances.
→ Customers can make informed contingency decisions while the provider preserves credibility.
Common mistakes
Offering empty reassurance
Saying everything is under control without showing facts, exposures, or actions creates suspicion rather than confidence.
Communicating only once
Stakeholders need continuing visibility as facts and decisions change during an extended disruption.
Broadcasting without listening
Trust requires feedback loops, not merely a high volume of executive messages.
Is it for you?
Best for
Leaders responsible for client assets, critical services, or consequential decisions during volatile periods.
Not ideal for
Situations where legal, privacy, or security obligations prohibit sharing the relevant information.
From the transcript
“it was leveraging the culture of of just being transparent and and talking to our clients”
“We did tons of webinars, uh, talked about what was working, what was not, what was in the portfolio, what were we doing, and what…”
“at the end of the day, we're in the trust business.”
From the episode
Christine Hurtsellers on the Business of Trust (Podcast)
Christine Hurtsellers