Why transparency in business is key

Alan Price – CEO at BrightHR

September 11 2015

The idea of information being provided on a need to know basis is now a thing of the past, as we have become privy to an abundance of information regarding businesses, mostly as a result of social media. The increasing number of platforms not only enables clients and prospective clients to gain a greater understanding of your organisation, but it provides prospective job candidates with the opportunity to determine whether your organisational values align with their personal beliefs and ambitions. Transparency should be a compulsory element in every organisation's business model regardless of their industry or size. Demonstrating honestly through clear and open communication is not just important when something goes wrong, it needs to be a consistent part of all business activity. By doing this, it will help build a sense of trust between companies and their stakeholders, adding a sense of weight to their reputation and standing in the business community. Businesses should embrace the notion of transparency, understanding that being transparent begins internally. It is important that everyone from managing directors to line managers are transparent with regards to exemplifying the organisations values, objectives and beliefs. If employees feel that their bosses do not represent the values that they are selling, then this may create a reduction in staff morale, productivity and how they communicate to others about the company. Employees should also feel like they are actively involved in the business processes. Communication across the team regarding the company’s goals and vision will help employees weighed down by projects and finer details see the bigger picture. Within the social media stratosphere, it is essential that you ensure that your content and messages are consistent across all channels. This will avoid confusion as to what your brand or business believes in and what you support. Ideally, the content would be created by the same individuals to create a consistent tone of voice, enabling followers to truly understand the personality of your organisation. This is often instrumental for job-seekers, who research and apply to companies based on whether they connect with their values and objectives, in addition to feedback they have received from current or former employees. Transparency is nothing to be intimidated by or afraid of, in fact it can be a positive step forward in establishing clarity across your organisation. From an employee’s perspective, the more information they have the more they will be invested in the company, increasing their levels of productivity and motivation. From an outside perspective, clients and customers will appreciate transparency as it will help them understand who they are engaging with and what they can expect from you as a company, thus avoiding unnecessary issues or legal backlash. For more information on this issue, please contact our Advice Service on 0844 892 2772.    

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