It has become plain to see that corporate culture is evolving. As more diverse workforces call for transparency, respect, and recognition, employers have learned that to stay ahead of the curve they need to create a positive work culture and reputation that helps to attract and retain the top industry talent. But did you know that with more transparency comes more profits? That might be less well known. It’s an added benefit that many employers are realizing. Transparency does more for the business than just put the minds of the employees at rest. Here are some things to consider.
1. The Link Between Transparency and Inclusion
A more inclusive workplace is a more productive workplace. That is where the link between transparency and profit lies. While many senior executives may prefer to focus on increased productivity to boost profits, they are clearly missing a big part of the puzzle. Transparency and inclusion improve employee engagement and encourage additional employee effort, making them the primary contributors to growth and profitability.
2. Discretionary Effort
The great employers of the ages are known for engaging their employees well beyond a simple job. Unlocking an employee’s desire to produce more than what is asked of them is what drives that shift. It’s all about discretionary effort.
But the key issue of discretionary effort is in that it is discretionary. You can’t ask or include that effort into the job description. That misses the point entirely. You earn discretionary effort from your employees by making them feel informed, consulted, and included in the decision-making process. Give them a stake in the game and you will see them rise to the challenge and put in the extra effort necessary to grow the bottom line.
Transparency may not be the default operating procedure in your business, but the way to bring it in is through the decision-making process. Ask questions like how often are important decisions made based on ideas sourced from all layers of the organization? Are these decisions genuinely collaborative? Are they made after getting the best and most valid inputs from the organization? How can you, as a business, scale an inclusive decision-making process so that everyone is included, from the very upper management all the way down to the boots on the ground?
While many leaders may want to include more employee feedback into their decision making, it can be a struggle to make that a reality. And while it isn’t always easy, it is an important part of being a good leader within the business context. Listen to ideas from all levels of command. If an idea has support, chances are that there is some weight to the concept and deserve an extra look.
The ability to communicate with transparency and inclusion helps companies access a deep wellspring of collective intelligence that can make all the difference in the long-term health and wealth of a company.
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