The recent election results serve as a stark reminder of the consequences faced by organisations when trust is broken.
- The Liberal Democrats faced substantial losses for failing to uphold their tuition fee promise made before the 2010 Election.
- Breaking promises has not been uncommon in politics; however, the Lib Dems were severely penalised due to the strong belief in their commitment.
- There is a lesson for businesses and leaders everywhere: promises must be kept if trust is to be maintained.
- Well-known examples such as Apple and Hoover further underscore the importance and repercussions of unfulfilled promises.
The Liberal Democrats suffered significant setbacks in the recent elections, with a loss of 46 seats, highlighting the long-term effects of breaking promises. Before the 2010 Election, they pledged to abolish tuition fees, a position that garnered them substantial student support. However, upon forming a coalition with the Conservative Government, the party voted to triple these fees, a decision which has come back to haunt them. The electorate’s trust, once lost, proved difficult to regain, manifesting in severe electoral losses.
It is not uncommon for political promises to be abandoned once in government; yet, the Liberal Democrats’ situation is notable due to the strong conviction their promise generated. The penalty they face is a stark illustration of an electorate that believed in their capacity to deliver on this commitment. A breach of trust has been made more painful by the initial strength of belief in their promise, making their fall more pronounced.
There is a clear parallel to be drawn with the business world. In the marketplace, trust forms the foundation of consumer relationships, just as it does in politics. For example, Apple has been criticised for failing to meet its pledged high standards of labour conditions within its supply chain. Despite improvements, such as achieving a 93% compliance with a self-imposed 60-hour workweek limit, it falls short of the EU Working Time Directive standards, exposing a gap between promise and practice.
The case of Hoover in the 1990s further exemplifies the risks associated with unfulfilled promises. Their marketing offer of free flights with qualifying purchases led to devastating financial and reputational damage when they could not deliver. This incident remains a cautionary tale of the repercussions tied to broken commitments.
These instances emphasise the critical nature of maintaining integrity in promises, whether in politics or business. Trust, once fractured, can lead to severe consequences, echoing Nietzsche’s insight, “I’m not upset that you lied to me, I’m upset that from now on I can’t believe you.”
The Liberal Democrats and examples from the business world highlight a fundamental truth: promises must be kept to preserve trust and credibility.
