Mind Reading is NOT an Option: Why Transparency Is Critical to Your Company’s Success
As necessary as oil is to a car engine, communication is the essential “grease” for your business operations.
Your company must have a functioning structure for internal day-to-day communications. Just as important is transparency from management: forthright, open communication between company leaders and employees about company challenges, changes, and strategic business decisions.
What’s so important about transparency?
Why does transparency matter? After all, you’re in charge — so why share strategic information with those who aren’t involved in high-level business decision making?
To answer this, consider an example of what transparency is not. The CEO of Company X is an information miser who refuses to share updates about the company’s financials, strategy, and critical challenges. The outcome: employees’ morale is poor, productivity metrics (such as revenue per employee) are lagging, and turnover is high.
The lesson in this example is that transparency from company leadership — or lack thereof — has a tangible effect on employee happiness. Research confirms that happier, more engaged employees are more productive employees that increase company revenues and stay with employers longer.
Transparency tips
It’s clear that transparency makes good business sense. So what can you do to incorporate transparency into your leadership approach?
- First, set an example by committing to open, honest communication. Then follow through by implementing a communication structure that enables everyone to access important company information, ask questions, and give feedback to management.
- Understand what your employees really want to know and share that information with them. You don’t need to convey every last detail — just what will help employees to feel engaged and work productively. Be sure to explain clearly to employees what role they’ll play in any upcoming company changes.
- Talk to people face to face. Email is great for blasting memos, but there’s no substitute for making a personal connection with your team members — ideally in informal groups that encourage dialogue.
Remember, if transparency is new to you, getting comfortable with this approach may take time. If so, you might benefit from the experienced guidance that Cloud9b2b can provide in this area.
[cta]Does your company struggle with transparency? Get help from the Cloud9b2b business experts at 469-384-7122, by email, or through our contact page.[/cta]
