Why Transparency is Important to Business

Transparency builds trust, and makes employees feel that they’re working for a company with higher ethical standards. According to a 2014 American Psychological Association Survey, 25% of employees do not trust their employer. Half of them believe their employer is not upfront with them and open to the overall vision of the company. When transparency is added to the corporate culture, employees will be more engaged and committed to the vision of the company. The reason is they fully understand the mission and feel vested to share ideas, display their creativity, and bring about innovation to achieve the desired objective. People are always going to be first and best choice for operating within the solution before automation since when committed will add more continuous value to the process. So how does a company being about the full value of transparency to the workplace? The answer is communication. Please note not just any communication but direct and clear communication that comes from the highest level of honesty and integrity. It is important that communication be a two way street both coming from top down and down up. Employees are most engaged and committed to the process when senior leadership continually updates and communicates company strategy, value, and the truth about their current situation. Companies that adopt the concept of transparent leadership see a stronger bond of trust and commitment from their employees to strive for efforts not achievable the other way around.

Transparency In Business: 5 Ways To Build Trust

When I was growing up, we didn’t know what restaurants and fast food joints put into their food. We didn’t know where a company’s products came from. And we certainly didn’t know the values and beliefs of a company’s CEO. And then in a flash, all of that changed. As entrepreneurs, we’re held to a higher standard now more than ever. With online platforms like social media, review sites, and discussion forums, transparency is critical to business success. Transparency in business can be a great thing. You made a commitment to your customers, investors and lenders, employees, and yourself to build the best venture you could. You might as well show everyone how you’re holding up your end of the bargain.