Why trust, not strategy, determines the success of change

After 20 years of implementing change across 300+ financial institutions on five continents, there’s one phrase I hear more than any other: “We’re the same as everyone else.” And every time, I think the same thing: That’s completely wrong.

Yes, these organizations often operate under the same regulations. Yes, they face similar market pressures. Yes, they may even offer comparable products and services.

But they are not the same. The difference isn’t in their business model or their technology stack. It’s in their culture—and more specifically, in their levels of trust.

The hidden variable in change: trust
Some companies embrace change with curiosity and energy. Others resist it with everything they’ve got. The difference isn’t about resources or intelligence. It’s about how much people trust each other.

In high-trust organizations, people:

• Ask questions without fear
• Learn from failures instead of hiding them
• Turn resistance into collaboration

In low-trust organizations, people:

• Question every motive
• Assume hidden agendas
• Wait for change to fail—because they expect it to

This isn’t just a “soft” issue. It’s the foundation of whether change efforts succeed or collapse under their own weight.

Strategy is overrated without culture
You can have the best transformation roadmap in the world. You can hire the top consultants. You can invest in cutting-edge technology. But if your people don’t trust leadership—or each other—none of it will stick. Culture eats strategy for breakfast. And trust is the main ingredient in culture.

What trust looks like in practice
I’ve seen organizations where change initiatives were met with open minds, honest dialogue, and a willingness to experiment. These were not always the biggest or most well-funded companies. But they had something powerful: psychological safety. In contrast, I’ve worked with firms where every meeting felt like a negotiation, every announcement was met with suspicion, and every failure was swept under the rug. These companies didn’t lack intelligence—they lacked trust.

Thriving through transformation
The companies that thrive in transformation don’t just manage change. They build trust as a core capability. They:

• Communicate transparently—even when the news is tough
• Involve people early and often in the change process
• Celebrate learning, not just success

They understand that trust isn’t a “nice to have.” It’s a strategic asset.

So, what about you? If you’re leading change—or living through it—ask yourself:

• Do people in your organization feel safe to speak up?
• Are failures treated as learning opportunities or liabilities?
• Is trust something you actively build, or something you assume?

Because in the end, your ability to change successfully isn’t about having the best strategy. It’s about the culture you’ve created—and the trust you’ve earned.

What’s your experience?
Have you seen trust make or break change in your organization? I’d love to hear your thoughts. Reach out to me on LinkedIn.