Ways to promote transparency in a startup
Transparency is the most crucial model as well as mantra. To take it into practice can only bring the real impact on your business. As transparency is for improved communication, engagement, ideation and faithfulness. Real transparency every perspective salaries, company financial and take everything into consideration. Startups of today’s era are so unique in respect to transparent organizations.
Changing attitude is directly related to communication improvement and technology workflow making the environment transparent in all ways for efficient result for the beneficial of company and its stakeholders.
Disclose company financials: Only upper management in the most of the companies have the right on sacred part of the company that means financials are in transparency. But taking everyone into it will improve the performance as well as return of the company. This is the thought process is sharing financials can make the morale down of their employees but in real it’s all about giving honest view of the Organisation which makes them understand their role in the company in very clear way. After sharing the financials work for more productivity like move the needle in a tangible way. Financials can educate the employees what they were not able to see earlier.
Release employee salaries: Openness is also salary transparency. It will remove the biasness gap among the employees. This practice makes the recruitment also very easy as you make yourself clear from the very beginning. Due to the public bands of your company about the salary make the picture on the realistic platform from which job candidate can see what they can expect and current employees know where they stand based on their history which will help in making the environment more cooperative.
Flatten the hierarchy: Flat the organization is very tough task as makes the organization with no manager. Due to the smaller number of employees, it is almost expected to work on the flatten basis. Although a flat structure will break the boundaries in respect to roles and teams but it is important to share information and decisions which can be helped by the flatten structure as flat structure is too harsh over the organization. This means before assigning anyone to the responsibility takes that into consideration whether they can fits into the structure.
Host town hall-style meeting: To make themselves over the questions and comments of its stakeholders might have about how the company is doing and what the future plans are. This kind of nature and observation open discussion encourages participation and helps employees feel heard.
Be upfront about bad news: In respect to the rumours going on in the organization which will ultimately affect the company morale. Make the problem over with discussion and lay downs the pros and cons of the situation that may be to the Organisation and their employees and ensure it will not happen again. Leaving things unsaid only creates uncertainty and distrust.
Invest in socialization: Workplace culture can be progress through team forming/ building activities like trips, parties and make the social space in the office kitchen (a well-stocked kitchen) will advance in boosting the transparency and performance of the employees. A team that feels invested in one another’s success will be less likely to wall off their colleagues from significant decisions that may mark performance. It also increases overall loyalty to the organization.
You must follow the steps to increase and improve the transparency in the business which will give you immense benefits. As transparency in any business is good for the community and nation and in turn benefits with the success of the business.
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