Neither Donald Trump nor Hillary Clinton have garnered much trust, but either candidate, if elected, has the ability to rebuild his or her bond with the American public by picking the right support team, says Joel Peterson, author of The 10 Laws of Trust.
“You can borrow trust from other people,” says Peterson. “By bringing on high trust individuals, you can borrow their trust.”
Peterson is the chairman of JetBlue (JBLU) and a long-time professor at the Stanford Graduate School of Business. He is the former CEO of real estate developer Trammel Crow and chairman of the investment firm he founded in 1995.
According to Peterson, the 10 Laws of Trust are 1) start with personal integrity; 2) invest in respect; 3) empower others; 4) measure what you want to achieve; 5) create a common dream; 6) keep everyone informed; 7) embrace respectful conflict; 8) show humility; 9) strive for win-win negotiations; and 10) proceed with care.
On the topic of Wells Fargo (WFC) CEO John Stumpf’s ability to rebuild trust after the account creation scandal at his bank, Peterson says he may have to consider resigning if there was “clear wrongdoing” involved.
“If there is clearly intent to fool or mislead people, to lie, then I think it’s very tough to rebuild trust as CEO,” says Peterson, who stresses in the book that the 10 laws of trust, if not followed or if implemented with “scoundrels,” are no guarantee against the risk of betrayal. But in his view, the odds of betrayal are minimized if one realizes the realities that betrayal, which stings and is often personal, at some point is inevitable and that reconciliation and the restoration of trust is difficult but worth it.