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Why and what is it?  

By keeping your word you keep your integrity, by not keeping it you destroy it. Whatever you may have done and achieved in the past is coloured by the opinion of you others hold based purely on if you can be trusted. Well most Christian leaders would say that they can be trusted, but what does that mean? It means if you say you will do something, then you do it, if you say I will do it by tomorrow, then you do it by tomorrow because if it is not done by the day after tomorrow, you haven not kept your word, your integrity is is blown to pieces because you cannot be relied upon to fulfil that which you promised.
I can say that many times in a week I find people online, that will say to me they will do a certain thing by a certain time but the time elapses and there is no sign of its fulfilment. I am talking about pastors and a variety of Christian leaders. This ought not to be. Having spoken - you are bound to your word, If your word cannot be relied on, neither can you.

It is better for you to not promise anything than to promise something you may not fulfil (or worse - have no intention of fulfilling).
Whoever walks in integrity walks securely, but whoever takes crooked paths will be found out. People with integrity walk safely, but those who follow crooked paths will be exposed. Proverbs 10.9
... in all things showing yourself to be a pattern of good works; in doctrine showing integrity, reverence, incorruptibility, Titus 2.7

When people lose trust in your word because you have not fulfilled it you have destroyed trust, without trust relationships are of no value.
Be a person who honours your word. Be trustworthy.
In this case, moreover, it is required [as essential and demanded] of stewards that one be found faithful and trustworthy. 1 Cor 4.2 AMP

As a pastor or leader, not everyone that you lead may meet this standard, judge a book by what is written in it, you are exhorted to lead, encourage, teach, and correct. You can love them, respect them, encourage them, give them opportunity but trust is earned not granted without performance. Choose wisely.