2018-03-20 14:54:44AdvertisingEnglishLook at the concept of radical transparency. Review how a culture of transparency can help improve business performance, and get tips for...https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/03/Company-Executives-Promoting-Transparency-Plan.jpghttps://quickbooks.intuit.com/ca/resources/advertising/radical-transparency-plan/Promote the Concept of Radical Transparency in Your Business

Promote the Concept of Radical Transparency in Your Business

1 min read

Much more than just a buzz phrase, radical transparency is the idea that everyone in a company deserves to know how they, their peers, and their managers are performing. While the concept may sound invasive or counterproductive at first, businesses that embrace radical transparency find that it improves performance across the board.

In an environment of radical transparency, all employees get to rank the performances of their colleagues and their bosses. Typically, special software amalgamates those reviews to create a snapshot of how each employee is doing. Managers can use that information to improve their approach to communication and leadership, while workers can use the information to identify weak spots and improve their performance in general. In some cases, radical transparency also includes information on pay scales and bonus structures.

Why does this work? Well, according to neuroscientists, the brain functions better when it’s not embarrassed or trying to hide something. When workers know exactly how they are doing, they don’t have to worry about what their bosses or coworkers are saying or thinking "behind their backs." As everyone from the bottom to the top of the company is treated the same, employees also have a sense of fairness, and in general, the human brain responds very positively to fair environments. In this climate, people become more engaged, more accountable, and more focused on their goals.

If you decide to experiment with radical transparency in your business, you may want to find experience management software to help. It’s also important to remember that for this approach to be successful, everyone needs to be involved. Even the boss can’t opt out. If you’re not quite at the stage of wanting to invest in software, you may want to adopt transparency in other ways, such as conducting no-holds-barred, totally honest exit interviews with employees who are leaving the company.

Transparency is becoming more and more important in the world of business. Consumers want to shop at businesses that are transparent about their practices, and employees seem to perform better in transparent environments. If you want to take your business to the next level, you may want to explore transparency and find ways to embrace it.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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