Transparency is a word that gets bounced around a lot in boardrooms these days, so it’s not surprising that many high-functioning organizations have adopted a transparent and accountable approach to managing both their workforce and their members. But why bother? What’s in it for the organization?
- Build Stronger Relationships With Your Workforce: A transparent workplace shares many traits with a functional marriage or strong friendship. Consider this: Young Entrepreneur defines the five characteristics of a transparent workplace as open communication, honesty, regular feedback, respect and admitting wrong. Sounds like the basis for any good relationship.
- Avoid Costly Mistakes: The levels of transparency that we expect from individuals and organizations are consistently increasing, especially in recent years with the rise of social media. With several corporate and nonprofit board leaders in the hot seat for a lack of accountability and transparency, creating an environment of open communication is no longer optional, it’s essential to any business.
- Foster A Stronger Corporate Culture: Share practices, policies, operating data and future plans with the workforce. This helps them develop a deep understanding of what their organization stands for and what its objectives are helping to build an environment of pride, loyalty, passion, trust and innovation. This, in turn, can lead to increased productivity and higher profit.
Transparency is a powerful thing. Everyone benefits. It’s hard to trust someone without the facts. A culture of transparency ensures that even when mistakes are made, an organization can still come out on top.