Did you know that 25% of employees don’t trust their employer? (Source: 2014 American Psychological Association survey)
Why the lack of trust in the workplace? Transparency.
Transparency is about being open and honest with everyone in your company. It’s sharing your values and goals and holding everyone (including yourself) accountable.
Transparency has become the new standard for both employees and customers or clients. They want to work with and support a company that has great values — one they can trust and believe in. Because of this, it’s critical that you be as transparent as possible about your business.
Transparency in your leadership is the key to encouraging and building a culture of trust.
Transparency in the workplace is the key to building a strong team and culture, which then translates to your customers. And when your employees truly buy into the company’s mission and goals, they’re more likely to trust you and be productive in their work. They’ll work with more passion.
Here are 5 ways to establish transparency within your company:
- Ensure everyone knows your core values. Your values are at the core of your business. Everyone should strive to live them daily. Put them up in the office as a reminder, talk about them all the time, and even consider doing awards monthly, quarterly, or yearly to celebrate an employee demonstrating these values.
- Set goals together. Make these goals about more than the money. What are you trying to accomplish as a team and how can each member of the team contribute?
- Welcome feedback and opinions. Allow and encourage your employees to voice their opinions and provide feedback. By feeling as though they can contribute, they’ll be more involved.
- Share updates and progress often. Consider holding bi-weekly or monthly meetings with your employees. Update your team on your business’ ventures, goals, and vision, and listen to any of their issues or suggestions.
- Be an open book and answer questions. You don’t necessarily have to tell employees all the numbers and behind-the-scenes info to the business, but if they ask a question, be open and willing to answer.
Part of being a transparent company means putting all the pertinent details out there for your employees and customers. If you neglect to include something, it may impact your credibility and transparency, even if you didn’t feel it was important.
Harvard Business Review’s 2013 employee engagement survey revealed that 70% of employees are most engaged when senior leadership continually updates and communicates company strategy.
While transparency may not appear important to you, it can be tough to be truly transparent. Start by asking your employees — are we a transparent company? What would make us better? And get started with that transparency right away by listening to their ideas and suggestions. Transparency is about putting yourself out there. Embrace it. Be open, honest, and accountable.