Management and ownership transparency improves operations, boosts employee satisfaction and provides an enormous amount of good for the bottom line. A survey conducted by the TINYpulse Company of over 40,000 employees from multiple industries found that transparency represents the leading factor in determining employee happiness within the workplace. Additionally, well-practiced transparency by executive management provides the means for mid-management to better define employees’ roles and objectives, leading to better financial results.
The concept of transparency revolves around business results, conditions, policies and procedures. It does not penetrate confidential subjects such as personnel and contracts.
To improve corporate transparency, consider the following guidelines:
1. Don’t pick and choose.
I always remember an old saying that my father used from time to time. “There is no such thing as being a little bit pregnant.” Much in the same way, there is no such thing as being a little bit transparent. You either are or you’re not. No partial credit is available.
2. Provide complete two-way communications.
Don’t think that management transparency only comes in the form of an annual report. Transparency should be considered and practiced as a form of complete two-way communications to all employees. People need the opportunity to ask questions for the sake of understanding all subjects.
Consider transparency as a two-way street where communications travel both ways. Starting with top level management, make sure that all levels of employees receive and understand all relevant business subjects, and then be sure to invite employees to be transparent in how they feel about their jobs and working conditions.
Sadly, there is always too wide of a gap between the top and bottom of every organization, and management seldom knows exactly what is going on at the field level.
3. Provide consistent and timely transparency.
One of the most important parts of managing a successful organization requires management to provide a positive and supportive environment in which employees can flourish within their responsibilities. Create a regular medium of communication that keeps everyone on the same page and fully informed.
This is most important when your company is going through any changes within its structure or mission in business.
Employees have a yearning to be as big a part of an organization as possible and should be considered capable of accepting and understanding both good and bad news as it pertains to transparency. In fact, employees will pitch in and do more when the boss is being fully transparent about difficult things that can occur within a business. This certainly adds a bit of inspiration to management.