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Daily Leadership Thought #63 – Be Transparent

I’m regularly surprised by the number of business leaders who are afraid to share their financial results with their employees.  Believe it or not, if you don’t give them the information, they will make it up on their own and typically overestimate things in either direction.  They will think you are doing much better than you actually are OR they will think things are worse than is actually the case (especially over the last few years).  For some strange reason, human beings will jump to negative conclusions when they don’t have the requisite information.  Bottom line is they will think they are getting taken advantage of OR in a relatively vulnerable employment situation.  This is why you need to dispel fiction with fact when it comes to financial outcomes. 

The more people who are knowledgeable about the basic metrics of the business, the more people you have who will be able to make a connection between their work and the actual outcomes of the company.  As long as you are a reasonably fair employer, they will take pride in the organization when things are going well and pitch in when you need them to make the extra effort.   In addition, multiple studies have proven that your top performers want you to keep score and want to be part of a high performing organization that meets and ultimately exceeds its goals and/or addresses problems proactively.  You shouldn’t hide from success or failure, but instead bring your people along on the journey with you.


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