Press release
New Study from FMI and Autodesk Finds Construction Organizations with the Highest Levels of Trust Perform Twice as Well on Crucial Business Metrics
Higher levels of trust within organizations and across project teams correlate with increased profit margins, employee retention and repeat business that can
About this update from Autodesk, Inc.
[{"type":"text","content":"Higher levels of trust within organizations and across project teams correlate with increased profit margins, employee retention and repeat business that can all add up to millions of dollars of profitability annually\n\n\nLAS VEGAS, March 10, 2020 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK), in partnership with management consulting firm FMI Corporation, today released findings from an industry study, \"Trust Matters: The High Cost of Low Trust.\" The study measured the costs and benefits of different levels of trust within construction organizations and across construction project teams. The findings reveal organizations with \"very high\" levels of trust achieve better financial and organizational performance – yet 63 percent of survey respondents shared their organizations have less than \"very high\" trust. Compared to organizations with lower levels of trust, \"very high\" trust organizations generate more repeat business, retain more employees and drive a higher level of operational success.\n\n \n \n \n \n \n \n\n \n\"The performance advantages at 'very high' trust organizations can represent millions 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. The 'very high' trust attributes uncovered in this report reflect approaches organizations can focus on to minimize uncertainties, simplify collaboration and ultimately improve trust.\"\nFMI and Autodesk surveyed over 2,500 construction professionals worldwide who ranked trust within their organizations, ranging from \"very low\" to \"very high\" trust. The rankings were assessed against respondents' reports of their organizations' internal performance, culture and external relationships.\nKey findings include:\n1. \"Very high\" organizational trust can lead to millions of dollars in annual savings and new revenue.\nRespondents from the highest trust organizations revealed performance advantages that can add up to millions of dollars of profitability each year, including: \nMore repeat business – The majority (57 percent) of \"very high\" trust organizations report working with repeat clients for more than 80 percent of their projects, whereas only 42 percent of \"above...