Transparency: The Key to Loyalty
Forbes contributor Jeanne Meister is an expert in preparing companies for the workplace of the future. She calls the 21st century “frenetic,” full of employees who change jobs frequently. Successful companies must have loyal employees to keep things steady and contribute to long-term success. Statistics have shown that having a loyal staff is correlated with having transparency. Transparency is becoming increasingly important to employees, and isn’t just a priority for Millenials anymore. Employees want to work for companies that have a clear vision, straightforward communication, and well-defined expectations. Here are some interesting ways to cultivate transparency in your organization.
- Hire transparent employees. A transparent workplace starts with transparent employees. Search for your prospective hires online to see what comes up. You’ll be able to see what they’re posting online, if they use social media or have a blog, and if they are honest about their own credentials.
- Make sure your leaders are using social media. 76% of executives think CEOs should use social media. With social media, CEOs can “narrate” company news and influence perception of their organization.
- Think about eliminating job titles and making finances open. Some companies today are eliminating job titles all together. At Grupo Semco in Brazil, team members make their own salary and hours and have the same job titles. The CEO title rotates between half a dozen executives every six months. They found that this system actually decreased costs and increased profits. They also open up all of their financials to employees, and offer financial literacy classes so people can learn how to read the materials properly.
For more tips on transparency, read the full article.