Trust and its effects ont he labour market

Abstract

Trust is an interpersonal phenomenon, which is hard to capture since it has various definitions across disciplines. In present paper trust is analysed as a social phenomenon that determines the functioning of societies and the embedded organisations. After a short review of international research data and the relevant results of the European Social Survey (2017) the preliminary data of a research financed through the New National Excellency Program are presented. According to the findings of the research, the members of the Z generation are even less trusting than their older peers are; which is an important fact, since they have other motivators than the members of X and Y generation had. As the results indicate, organisations and mainly superiors need to adapt to the expectations of the new generation on the labour market. Trust is a central notion of this change. Leaders should transform their style to meet the requirements of a trusting organisational culture. By doing so, they will not only reap the benefits of interpersonal trust, such as creativity, innovativeness, increased efficiency and commitment, but can create a comparative advantage for their companies on the labour market.