How To Build A Culture Of Transparency

Transparency in business

Like many business leaders out there, you might be thinking that you’re doing all you can to create transparency in your business or you may be asking yourself “what is transparency?”

Transparent communication allows every member of your team and organisation to be on the same level playing field. By sharing important information with colleagues you’ll create a transparent working relationship and build valuable trust in the workplace.

Companies both big and small across all kinds of industries excel when transparency in business is the norm. By giving your employees access to important information, you’re helping your business to make better informed decisions in the good times and the bad.

So, without further ado, here are 4 great tips to help you successfully establish a transparent communication policy in your workplace.

  • New employees have to be trustworthy

Hiring a new employee has to be seen as potentially the best move your company has ever made. However, you’ve got to ensure that any new employees are people that you instinctively feel are trustworthy.

Giving any new employee a high degree of confidential company information soon after being hired is a great way to create a culture of transparency from the start. But, for that to happen you have to be able to trust them implicitly and your professional judgement is a key factor here.

If financial success and huge profits are a priority at your company, don’t be fooled into thinking that failing to be transparent won’t catch up with you. Hire new employees that you trust and give them the information they need to excel at what they do best.

  • Don’t hide anything in your meetings

Open line communication road sign

If your company is struggling financially, looking into hiring new employees, changing strategic directions, or anything else; a meeting is the best place to let everyone in your workplace know what’s going on. Some companies have weekly or monthly AMA (ask me anything) meetings to further encourage transparent communication.

This is a great way for your workplace to develop a community in terms of transparency and give their valuable feedback or opinions. You never know what you may have overlooked and this kind of transparent communication simply can’t be established in the same way if you send out an email.

If something isn’t going to plan at your company, inviting your employees to become part of the solution will create a collective responsibility to put things right. Your team should rejoice when you’ve hit that target or completed that big project, but you should also address all problems and issues together.

The first step you need to take in this situation is to organise a meeting to talk about the issues in a transparent and open way.

  • Your customers deserve to be part of the transparent culture too

Just like you should be transparent with your employees and they should be transparent with each other, your company should be transparent with its customers. Your culture of transparency has to extend in every direction.

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If you’re trying to encourage transparency in business it makes no sense to be open with your employees while shielding your customers from the truth. This could be as simple as your customer service team giving straight answers over the phone or building a price calculator into your website so that your customers understand all the fees they will pay.

Building trust with your customers is the same as building it with your employees because you only stand to benefit. Even if a customer decides to go elsewhere, treating them honestly is the best way to get a great review and improve your company’s reputation for customer service.

  • Ask for feedback and give it the importance that it deserves

Company feedback

Nothing says transparency in business more than a company feedback system that rates the ideas put forward. As discussed earlier, building trust among your employees and management teams creates a collective responsibility to fix any bad situations that may arise for your company.

There’s no better way to help build that trust than having a feedback system that genuinely addresses the suggestions and worries of your employees. With that being said, having your employees give their valuable feedback honestly will actually help you to improve your business model in ways you never imagined.

Try sending out monthly surveys to gauge employee satisfaction with all aspects, such as leadership, strategy, working environment, and any other important or trending workplace issues.

Regardless of where you stand when it comes to transparency in business, there’s nothing wrong with pushing for more. So, next time you’re thinking “what is transparency?” just remember back to the famous motto of The Three Musketeers’ – one for all, and all for one. Start treating everyone working for your business as one and you’ll soon reap a multitude of rewards.

If you’d like to get your company together to discuss all matters of transparency, why not make use of our fully-equipped meeting rooms? Find out more information, here.