McQuerrey's work has garnered awards from the U. She is also the author of several nonfiction trade publications, and, in , had her first young-adult novel published by Glass Page Books. By Lisa McQuerrey. Respect Operating a transparent business demonstrates respect for employees and customers alike. Staff Involvement Staff members who don't know what's going on in your business may speculate, participate in spreading gossip, or otherwise be unsure and anxious about the state of the company and the security of their jobs.
Customer Service Customer service can improve through transparent business operations. During these meetings, all employees have the opportunity to ask questions regarding the company and receive clear and honest answers from top management. As a result, these meetings make employees at all levels feel valued and listened to.
Always admit your mistakes and take responsibility for them. Customers appreciate companies that own up to their mistakes, apologize, and try to come up with solutions.
On the other hand, customers are not fond of companies that try to hide their mistakes or, even worse, get defensive and deny them. A transparent company should make all relevant financial information readily available for investors so they can easily understand the risks and opportunities associated with their decisions. Business partnerships should be founded on mutual trust. Make sure your business partners know exactly what you expect from them and clearly explain what they can expect from you in return.
If you want to take transparency one step further and contribute to also establishing transparency in the companies you work with, you should definitely consider implementing digital signatures.
The Penneo digital signing solution ensures transparency by guaranteeing:. You can even listen to the designers tell you about their fabric choices. For instance, you can learn how they used a fabric that was made out of recycled polyester to reduce the footprint of the product. Or how they chose a material that can be brought back for us to recycle.
This company has set sustainability standards so high, and yet, they are living up to them. They even go as far as to discourage their customers from purchasing too many of their products. The way they practice transparency is by putting detailed financial and customer data on their blog. They even make their annual reports accessible and open to the public. Of course, they also try to make these reports more visually appealing by using infographics and catchy subject lines, to save you from the usual boredom of reading a report.
Hopefully, the transparency of these three companies will inspire you to offer skills you would want to teach your employees. Upskilling can help promote a culture of transparency and accountability. When 1 Hotels was looking for an internal communications platform to replace WhatsApp groups, they implemented Beekeeper to create a more transparent, inclusive company culture.
Using Beekeeper, team leaders can create one message to post in Beekeeper that is visible by all hotel teams. They hold daily morning rallies where the team reviews recent posts and updates in Beekeeper to make sure everyone is on the same page.
With this added transparency in the workplace with Beekeeper, employee engagement at 1 Hotels has increased, and turnover has decreased significantly. The growing millennial workforce is fluid, changing jobs regularly in search of a better….
This allows you to implement policy changes that move the company in the right direction. The following are general areas to cover in employee surveys to measure transparency in the workplace. The concepts and implementation of financial literacy training and open-book management came from a need to better empower and engage employees at a struggling manufacturing plant in Springfield, Missouri, in The practices that were developed worked for that company and have since gone on to help hundreds of organizations in a wide range of industries.
Creates a competitive edge in business. When employees realize they are trusted by, and can trust, management, they are more likely to step up and perform their work in an engaged and thoughtful manner. Organizations are learning what best motivates millennials in an effort to reduce turnover and retain good talent.
Consequently, trust in the workplace is becoming more of a priority. An SHRM job satisfaction and engagement report indicated that the two most important factors in job satisfaction are respectful treatment of employees and trust between employees and management.
How can a business create transparency? The number one way to be more transparent is to implement open-book management practices. The financial information provided in an open-book approach creates an ownership culture in which employees start to see the business in the same way owners and executives see it. This lifts the veil between upper management and the rest of the team, and allows for a more honest and collaborative relationship and improved communication.
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