Emotional Bank Accounts: The Hidden Wealth of Workplace Trust

January 30, 2025 In Other No Comments

Written by Michael Huff on 1/30/2025

Trust is the foundation of every successful relationship. It’s not guaranteed—it must be earned and nurtured over time. Trust, like a sandcastle, takes time, effort, and care to strengthen and construct, but its fragility leaves it vulnerable to being quickly washed away.

In this article, we’ll explore what trust really means in the workplace, how it can be built and strengthened, and what steps you can take to rebuild it when it’s been damaged. Along the way, we’ll explore real-world examples demonstrating why trust remains one of the most valuable assets in any relationship.

Deposits, Withdrawals, and the Emotional Bank Account

“When an employee pleaded, ‘I’m really sick this time,’ I couldn’t help but think, This time? What about all the other times he called in?” It didn’t get them out of corrective action, but it did manage to break our trust. In our Leadership Fundamentals Training sessions, I share this story not just for a laugh but to drive home how quickly trust can be broken—and the years it took for us to rebuild.

There are times when we will let each other down, intentionally and unintentionally. When this happens, trust takes a hit. This is what Stephen Covey describes as a ‘withdrawal’ from the Emotional Bank Account, a concept he introduced in his book, The 7 Habits of Highly Effective People.

Like a bank account, the trust in our relationships is made up of a series of deposits and withdrawals. The more deposits we make—such as following through on commitments, showing kindness, and being transparent—the more trust increases, thus delivering a healthier emotional bank account.

Withdrawals, such as missed commitments or delivering negative feedback without context, diminish trust and weaken the emotional bank account. For example, when a manager repeatedly promises to advocate for their team in leadership meetings but consistently fails to follow through, it creates significant withdrawals that erode trust over time.

When the balance is high, withdrawals don’t bankrupt your emotional bank account. However, a series of withdrawals—such as allowing uncivil behavior to persist—erodes trust and hinders communication, productivity, morale, and more.

Checking the Balance of Emotional Bank Accounts

Do you know where your emotional bank account stands with those you interact with? We ask participants to visualize a dollar sign over people’s heads. We then challenge them to think about whether that dollar sign is green or red by identifying deposits and withdrawals they’ve recently made.

Knowing the balance of your emotional bank account is critical to identifying where to make more intentional and authentic deposits and how past and future withdrawals impact trust. While understanding individual actions is critical, true trust-building requires a cultural commitment—one that leaders must successfully embed into their organizations.

Best Practices for Building Trust

Building and maintaining trust requires intentional actions at both personal and organizational levels. Here are some best practices to help strengthen trust within your organizations:

  • Follow Through on Commitments: Accountability drives reliability, instilling a sense of trust and dependability within teams.
  • Balance Interactions Thoughtfully: Aim for a 5:1 ratio of positive to negative interactions to foster goodwill and strengthen workplace relationships.
  • Embrace Vulnerability: Sharing development opportunities and learning from past mistakes shows authenticity, a key pillar of trust and psychological safety.
  • Reflect on Your EBA Balance: Regularly assess your emotional bank account with others by identifying recent deposits and withdrawals.
  • Foster a Trustworthy Culture: Use frameworks like the Trust Triangle to learn how to balance logic, empathy, and authenticity in relationships.

As we reflect on the importance of trust, the next step is to consider how to apply trust-building principles in your relationships, leadership journey, and organizational culture.

Making Trust Your Competitive Advantage, One Deposit at a Time

Trust is an ongoing journey, requiring consistent actions and a shared commitment at every level of an organization. Being intentional about making deposits and staying mindful about withdrawals shapes how we connect, collaborate, and ultimately succeed together. Covey states, “Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.”

At Double E Workplace Solutions, trust-building is at the heart of all our leadership training programs. Let’s start the conversation today to help you strengthen trust, enhance collaboration, and empower your teams to thrive.