Transparency in companies: the key to success?
Transparency in companies was far from having a good reputation a few years ago. Information was considered far too valuable and sensitive to be shared with employees. But today, more and more companies are convinced of the value of transparency and are seeing an improvement in their internal communication.
In addition to being a real expectation of the new generations, transparency with employees is also a real performance lever for the company, on several levels. In this article we explain why transparency is good for the company, what its advantages are and above all how to implement it!
The search for meaning at work is increasingly marked and claimed. The increase in professional retraining and entrepreneurial projects is evidence of this. Understanding the company you get up for every morning is essential, and in everyone’s interest. But in order to understand, information must be accessible.
44% of 1,000 young people aged 18-35 expect transparency from their manager. This is the third most cited criterion, after autonomy and feedback.JobTeaser Study
What does perfect accessibility to information mean for the company and its employees?
Transparency allows employees to know where their company is going and to better define its scope of action. The information they receive, whether this concerns the strategy, the results or any other subject related to the company and the teams, must enable them to carry out their tasks better, but also to understand the overall project and why the actions are carried out.
As you can see, transparency offers many benefits.
In addition to meeting this stated need of employees, transparency in the company creates value. Transparency means communicating on decisive points that drive or hinder the company’s activity. By informing the employee of progress and objectives, but also of areas of concern and failures, top management will be able to involve the employee more. We all want to know what (and for whom) we are fighting for! Thus, employees who are aware of the company’s strategy are more likely to give their all. This will reduce employee turnover!
For this to work, it is not enough to “not hide things”; it is also necessary to provide access to information.
Transparency therefore has a direct impact on the well-being of employees, but also on the performance of the company itself. It helps to build bridges between teams and to solve problems more quickly. The logistics team can easily move a marketing team project forward by bringing in new ideas and raising questions.
Without transparency, no one knows who is working on what, or even why. It therefore encourages the sharing and challenging of ideas, but also creativity.
Providing access to information also helps to alert and raise awareness among teams. Informing about failures, but especially threats, can only be beneficial in anticipating a crisis!
Transparency in business is therefore one of the keys to success, provided it is implemented properly. Two or three communications per year are not enough! It must be part of the corporate culture and an action plan must be put in place.
Transparency in the company is essentially a matter of good internal communication, both top-down and bottom-up. Leaders and managers need to lead by example and communicate both positive and negative points to their teams as best they can.
It is important to promote communication between the various departments so that all employees understand the issues at stake in each part of the company, and to encourage mutual support.
Do not hesitate to create internal events and moments of experience sharing between the various departments. But above all, don’t forget oral communication! For the management and teams, it removes barriers, creates opportunities and saves time.
Transparency in the company should not stop at the positive. It is in your interest not to make a selection. By also knowing the ‘bad’ (or rather the not so good), your employees will be able to react and thus turn the tide more quickly. It can also be a source of motivation! Furthermore, unspoken words are often a source of frustration, which can infect all employees and thus tarnish the overall well-being.
A common omission in companies: the salary of each person. If you want more transparency, don’t hesitate to set up a salary scale that everyone can consult.
Good internal communication also requires good tools. With the explosion of digital technology, more and more solutions are serving the transparency that companies wish to develop internally. Trello, Google Drive and Slack, for example, promote collaborative work.
As for Steeple, it will allow you to improve your internal communication, encourage the sharing of ideas and circulate information. All that, without discriminating against your less tech-savvy employees!
Now that you have understood the value of transparency in the company and how to implement it, it’s up to you!