Tool 6: More trust please

Here is a summary of the Trust Bank [6] concept and a video on how it has influenced the teams John works with. 

Stephen M.R. Covey, in his book “The Speed of Trust,” discusses the concept of a trust “account” that operates similarly to a trust bank. However, it is important to understand that the metaphorical concept of the trust bank is more broadly used to explain the dynamics of trust and is not associated with a single developed theory.

The concept of the “trust bank” is not attributed to a specific theory or a single individual. It is a metaphorical concept commonly used in the context of trust-building and relationship dynamics. The term “trust bank” is often used to illustrate the idea that trust is built and maintained through a series of deposits (trust-building actions) and withdrawals (trust-eroding actions).

The “trust bank” is a metaphorical concept that represents the level of trust within a relationship or team. It refers to the idea that trust is like a bank account, where deposits and withdrawals are made based on actions and behaviours. The trust bank concept emphasises the importance of building and maintaining trust over time.

Here’s how it works:

Deposits: Deposits in the trust bank are made when individuals demonstrate trustworthiness through their actions. Examples of trust deposits include keeping promises, being honest and transparent, showing competence, being reliable and consistent, and demonstrating genuine care and support for others. Each of these actions adds to the overall level of trust within the relationship or team. 

Withdrawals: Withdrawals from the trust bank occur when individuals exhibit behaviours that erode trust. Examples of trust withdrawals include breaking commitments, being dishonest or secretive, displaying incompetence or unreliability, and showing a lack of consideration or respect for others. Each of these actions diminishes the level of trust within the relationship or team. 

Just as in a real bank account, a healthy trust bank requires regular deposits and limited withdrawals. By consistently demonstrating trustworthiness, individuals can build trust over time. However, repeated trust withdrawals can deplete the trust bank and damage relationships. Therefore, it’s crucial to be mindful of our actions and strive to make more deposits than withdrawals to maintain and strengthen trust.

Trust building:

Here is a synthesis of half a dozen models on trust building, from Covey, Lencioni, Brene Brown, Erin Meyer, Henry Cloud and others. Deposits are made when you are

1) Predictive in COMPETENCE and CREDIBILITY.

2) Predictive in CHARACTER.

3) People feel CONNECTED to you due to VULNERABILITY and EMPATHY.

4) And primarily for Westerners, when there is CLARITY in the STRUCTURE / SYSTEM.

The trust bank concept highlights the significance of trust in fostering effective relationships and teamwork. By understanding the dynamics of the trust bank, individuals and teams can prioritise behaviours that build and preserve trust. Regular deposits in the trust bank create a foundation of trust that can enhance collaboration, communication, and overall team performance.

Watch the below video to hear how this has influenced John’s leadership.

6. Covey, Stephen M. R. (2006). The Speed of Trust: The One Thing That Changes Everything. Free Press.