Michael Maccoby, a well-known author on management and president of a large consulting firm in D.C., wrote that building employee trust is much harder now that companies can no longer promise and provide lifetime employment. But he said acting ethically toward employees is not enough by itself to build trust either. To build trust he suggested you ensure:
Source: Maccoby, M. (03), "To Build Trust, Ethics are Not Enough," Research Technology Management 46(5):59.