There is a lot of talk about transparency of leaders and companies, but how transparent should you be? In many cases, if your team is armed with all the facts, then they can better execute in their role and help drive the company forward. On the flip side, sharing too much information can be distracting and even detrimental to company culture and employee engagement. So where do you draw the line?
The benefits of transparency
There are many benefits to being transparent, and one of the most pertinent is that of trust. Trust cannot be cultivated if transparency is not something which flows from the top tiers of the organization. If you commit to transparency, it has to be something which everyone takes seriously; otherwise, that trust will be lost. Without trust, it can be difficult to motivate your staff to take risks and even tougher to empower them to make the best decisions for your business.