According to a report from the CIPD, a third of staff (29%) want failing senior managers to stop receiving rewards and bonuses to rebuild lost trust.
The CIPD finds only a quarter of employees say managers consult them about important decisions. More than half (53%) think meaningful and honest communication is the best way of improving trust in management while a third of employees (30%) think having of a voice in the workplace would make them trust their bosses more.
Redundancies have also had a massive impact on trust; 70% claim redundancy programmes have damaged morale in the workplace and 27% say they are less motivated because of them.
Ben Wilmott, senior public policy adviser at the CIPD, said: "Failing senior chief executives and directors should not be financially rewarded when they leave organisations if their leadership has contributed to poor business performance. ‘Rewards for failure' are contributing to a deep-seated sense of unfairness among employees who feel they have been less well treated. This needs to be addresses if trust in senior leadership teams is to be rebuilt."
Recession highlights fundamental lack of trust in senior management
More than eight out of 10 employees (81%) do not trust the leadership of their senior managers.