Leadership is about more than simply holding a title or position of power. Leaders who are at the top of their field in a modern organisation, such as an accounting practice, are expected to engage with their teams in a way that fosters trust and respect. 

While these concepts have always been essential, their meanings have evolved, particularly as younger generations enter the workforce. What was once an unspoken assumption that leaders automatically earned the trust and respect of their teams no longer holds true. 

In fact, today’s workforce – composed largely of Millennials and Gen Z – approaches these values with a distinct perspective.To be an effective leader, it’s crucial to understand how these generations view trust and respect in the workplace. Without this awareness, leaders may struggle to connect with their teams, potentially hindering growth and productivity. 

Let’s explore what these values mean in the modern workplace and how leaders can adapt to meet the expectations of today’s employees.

What does “trust” mean in a modern workplace?

Traditionally, trust was something automatically attributed to those in positions of authority. In the past, simply being a boss or manager often meant that employees accepted and followed directions without question. However, in the modern workplace, particularly among younger team members, trust must be earned and nurtured over time.

Younger generations, especially Millennials and Gen Z, view trust in a more nuanced way. They place a high premium on transparency, communication, and ethical behaviour from their leaders. Gone are the days when a leader’s word was law; today’s employees expect their leaders to demonstrate integrity and authenticity consistently. 

These employees seek to trust their leaders not just in their decision-making but in their overall leadership style – they want leaders who are approachable, who listen, and who are committed to their teams’ well-being.

This shift is evidenced in research conducted by Gallup, which found that “employees whose managers are highly engaged are 39% more likely to be engaged themselves,” underscoring the importance of strong, trusting relationships between leaders and their teams. The study also highlighted that trust in leadership is a key driver of employee engagement and retention, meaning that leaders must work actively to build and maintain that trust.

What does “respect” mean in a modern workplace?

Just like trust, respect is no longer automatically granted to those in leadership roles. Today’s younger workforce views respect as something that must be earned through action, not merely bestowed because of a title. In the past, employees might have respected their leaders simply because they were in charge, but now, employees expect respect to be mutual.

For example, years ago, respect in the workplace might have been seen as acknowledging a manager’s authority without questioning their decisions or opinions. However, the modern workforce expects respect to involve open communication, active listening, and a commitment to understanding diverse perspectives. A young employee might expect their leader to genuinely value their ideas, be receptive to feedback, and foster an inclusive environment where everyone’s voice is heard.

This shift in perspective can sometimes be a challenge for older, more traditional leaders who are used to an authoritarian approach. However, those who adapt to this new definition of respect will find that they can create stronger, more motivated teams , and employees are more likely to give their best work when they feel respected, not only in their technical abilities but also in their personal contributions.

3 ways leaders can build trust with their team

Building trust with your team requires more than just good intentions – it requires tangible actions. For leaders within accounting practices, here are three key ways to establish trust:

1. Be transparent and communicate clearly

Transparency is the cornerstone of trust. Leaders who are open about decisions, goals, and challenges foster an environment where employees feel informed and valued. For example, when implementing new processes or changes in the business, communicating the reasons behind these decisions shows employees that they are considered an integral part of the process, rather than just passive receivers of orders.

2. Follow through on commitments

Consistency in action is crucial for building trust. If you make promises to your team, you must deliver on them. Trust is built when leaders demonstrate that they are reliable and that they value the commitments they make. It’s one thing to say you’ll support your team; it’s another to actually follow through when they need help. Employees are keenly aware when their leaders don’t practice what they preach.

3. Empower your team to make decisions

Empowerment breeds trust. When leaders trust their team members to make decisions and take ownership of projects, it creates a sense of shared responsibility and accountability. This autonomy not only fosters confidence in the team’s abilities but also reinforces the leader’s trust in their judgment – this trust, in turn, strengthens the overall cohesion of the team.

3 ways leaders can gain the respect of their team

Respect is a crucial component of effective leadership. Unlike trust, which is largely built through communication and transparency, respect is earned through actions that demonstrate competence, consideration, and collaboration. Here are three practical ways leaders can gain the respect of their teams:

1. Demonstrate competence and expertise

In today’s competitive accounting environment, leaders must demonstrate that they have the skills, knowledge, and experience to guide their teams effectively. Showing a deep understanding of the industry and a commitment to continuous learning helps earn the respect of team members, who value leaders who can lead by example.

2. Listen and value feedback

Respecting your team means giving them a voice. Leaders who actively listen to their employees, ask for their input, and make adjustments based on feedback show that they value their team’s contributions. This respect for employees’ opinions fosters a sense of collaboration and loyalty.

3. Lead with empathy and emotional intelligence

Today’s leaders must balance professional competence with emotional intelligence. Understanding the challenges your team members face, recognising their personal achievements, and providing emotional support when needed can earn profound respect. Leading with empathy not only boosts morale but also encourages a culture of mutual respect.

Research shows that emotionally intelligent leaders – those who are attuned to the emotions of their team members – are far more likely to earn the respect and commitment of their employees, leading to higher productivity and job satisfaction.

Building trust and earning respect are not just niceties now; they are essential components of effective leadership. As accounting practice leaders, understanding how these values have evolved is critical to engaging with and retaining today’s younger workforce. By adapting to the modern interpretations of trust and respect, leaders can foster a workplace culture that encourages collaboration, loyalty, and long-term success.

If you are looking to refine your leadership approach and learn how to build stronger relationships with your team, we can help. Contact us to discover how our tailored leadership strategies can help you become the leader your team respects and trusts.