How can transparency become your competitive advantage? We’ve broken it down to three areas that you can bring in transparency into your company so that you can transform it into your competitive advantage and why.
- How much your colleagues are earning: Transparency on the cost structure of your company can prove to create an incredible bond of trust within the organisation. This not only shows how much each position earns but clearly explains why. No one is left out and there are no hidden deals behind closed doors, which gives employees a sense of clear direction and certainty.
- What your colleagues are doing: This helps employees keep track of where they are personally on a project but also what areas their colleagues are tackling, how much time they’re spending on it which holds people accountable to certain tasks. “In addition to sharing daily learnings and progress, everyone on the team also shares where they struggled and how they're trying to improve.” This can be used to help people become more efficient and part of the team.
- What your business goal is: Having a clear business goal that is apparent to both your internal customers and your external customers makes a statement about your company. Not only does the world know that, Google’s company mantra is “Don’t be evil”, but it is something that they will be held accountable for. Similarly, you will have to stand by your business goal and this gives your company a great amount of transparency and therefore trust in your brand.
Read more on transparency in your business here.